Computer Financing Versus Leasing Computers

Posted by Credit Financing Guru on 26th March 2010

The difference between Computer Financing and Leasing Computer, is in a nutshell, with one you own the computer and the other one you don’t.

Computer Financing

This option is the one where you own the computer. Companies can help customize a financing plan where you can pay an affordable amount. At a predetermined point the computer is shipped directly from the factory to you. You own the computer upon receipt, not the company, AND in some cases no one has owned or touched the computer prior to you.

Leasing Computers

Computer leasing is where you are shipped the computer after applying for credit. You must have good credit and be able to prove that you have the ability to make monthly payments until the computer is paid in full. During the time that you are making the payments, you DO NOT own the computer. The leasing company owns the computer.

Computer Credit Benefits

The benefits of computer financing is that not only do you own the computer, but that the computer you receive is one of the best computers on the market at the time the computer is shipped. Meaning, if the company goes to order the computer and the quoted hard drive is obsolete then you get the newer (most likely bigger) hard drive with no extra fees or hidden costs.

Companies usually offer several different flexible payment plans, but should there be a disruption in your income, you can usually contact the company and they can make arrangements to help you through the rough times. Most companies are there to make this a win-win situation for everyone. After all, if you’re not happy you won’t recommend them.

Credit repair

This is a big thing to a lot of people. Some computer credit companies have created a credit repair program that works hand-in-hand with their financing plans. They all work slightly differently. A couple scenarios are:

(1) the company will report you payments (on time or not) to the credit bureaus or

(2) upon successful completion of the agreement, you will receive a letter that states that you met the payment agreement for X amount of months which you send to all the credit bureaus.

In either case, as long as you make your payments on time your score should improve.

Be Aware

Computer Financing Companies strive to make it affordable for you so that you have more than one option. Remember to ask questions like “Is this a used computer?” “Does it come with software?” “What happens if I can’t make a payment?”

One size does not fit all. If the company does not offer several computer financing options are they really flexible enough to help you? Choose a company that may work “outside the box” and will create a financing plan that fits you.

Computer Financing Today is a computer credit company that wants to help you purchase your next computer on your terms. CFT customizes a finance program that you can afford. We have been in the financing industry for over 10 years and have partnered with an IT company in order to offer you the best products on the market that will fit your budget.

We have even created a credit repair program that will help you establish or fix your credit. We offer a flat interest rate of 5.99% for ALL our clients.. All computers are NEW (not used or refurbished). We can offer several different brands so that you not only get the hardware and software you need, but at a price you can afford. Visit our site for products, deals, and program information. We are currently running a special for this month: purchase a computer with us and receive a FREE color printer.

Computer Leasing FAQ:

Question: Are lease payments for computer equipment tax deductible?

Answer: If it is an operating lease, then the full amount of each payment is deductible. If it is a capital lease, then only the amount related to interest would be deductible and the equipment would be depreciated.

Question: Can I walk away from the lease on my computer?
I’m a student and I’m currently leasing a computer from Dell. Its a 4 year thing where I pay like $30 a month. If I don’t need the computer any more, do I still have to pay the 30$ a month? Or can you pay a lump sum or whatever?

Answer: You could walk away, but your credit history will be screwed. You need to pay for it; that’s the deal you made. A nice machine for a low monthly payment. Consider it a learning experience – if you learn from it, it will save you much money down the road.

If you truly don’t need it any more, I suggest trying to see if you can get someone else to take over the payments; they’ll get a machine, you might lose some money invested, but you won’t be on the hook for a lot more. Perhaps you can call Dell to see if you can pay out the rest of what you owe in one lump sum.

Question: Alternatives to leasing computers?
The value of computer equipment deprecates rapidly. A solution to this is leasing the computers. Are there any other options apart from buying the computers?

Answer: What about renting a computer? Some may consider it leasing but it can be different.

Question: What is a lease? Why would you choose to lease instead of buy a capital item? What steps would you follow to decide whether to lease or buy a computer system?

Answer: Leasing is to reduce out of pocket costs, especially for those permitted to write off the costs of the lease.

Question: A leased computer broke down and needed to be replaced at no cost to the business. The man who brought the replacement said that the new machine was a $2500 model. Why is this considered a transaction? I thought it was “replaced at no cost to the business”.

Answer: It is not a transaction. Either it was under warranty or a service agreement. Since the company paid nothing, there is no entry to record.

Question: Can you be charged with ‘theft’ if you do not give someone back a gift (even if money is owed on it)?
My ex-fiance gave me a laptop as my Christmas present. He recently broke up with me and is now demanding to have it back to get out of making payments on it. He is apparently leasing the computer and still owes $500 on it. To get out of the payments he quit paying on the computer and told the company that I took it and to call the police!! Someone from the company came by my house today to take the computer back. My mom talked to them and told them it was a Christmas gift and that we have photos to prove that, but the guy said it didn’t matter and that it was considered “stolen”.

Is there any way my ex or the company can charge me with anything when I had nothing to do with it? It is my ex that signed the papers and has an agreement with them.

Answer: Because it was a gift, you would have rights to it.

However, because he failed to make payments, the company has rights to it also.

Under those circumstances, it would not be considered stolen and there would be no criminal charge of theft. The matter would be handled through small claims court. My guess is the judge will rule in favor of the company, unless you agreed to pay the balance.

Question: What Information Can A Rental Company Disclose, In Regards To One’s Account?
I rented a computer from Aaron’s Sales & Lease. I owe them $250.00 on an item that is almost paid off. However, they continuously come to my house at night causing a scene in the neighborhood. The General Manager went as far as kicking my door, scaring my little brother.

Now, the company is calling my house, and has spoken to my roommate. They disclosed information such as the Date of Purchase, Amount in which the computer was, how much my payments are, and how many payments I’ve made. Is this legal? or does it fall under the Privacy Protection Act of 1970?

I understand that I owe them – and I will pay them – however, I am upset that they are disclosing my account information to people in which I would NOT like to know my spending or financial habits/history.

Answer: You clearly are avoiding them if they are at the point of kicking your door and coming to the house, and sorry but $250.00 at the rates they charge is still a fairly big amount to owe, so how about you pay them or give the computer back and the matter will be over with.

As for them telling others about your personal details that is wrong BUT had you been up to date then this again would be a moot point.

Question: How can I break a imac lease? It turns off ALL the time!?
My Imac leased through Rentsmart has been back to the shop and had its guts – at least three things replaced. But the crumby thing turns itself off all the time in applications, in games, using the computer drive. The only thing that works is the internet. So I am paying megabucks for three years for a big net book.

Answer: Unfortunately for you, I know that they have actually taken some of their customers to Court for breaching their contracts. Not every company does because of the legal fees entailed – but Rentsmart is not one of the one’s who will let it slide.

Categories: Computer Financing
3Mar

Laptops and Desktops With Bad Credit

Posted by Credit Financing Guru on 31st January 2010

Are you seeking a way to get your computer financed without having a credit check? Are you interested in finding a loan for your laptop that requires no down payments and features 0% financing? If you’ve been looking all over for an answer to these questions, read this article.

Computers are an integral part of the everyday lives of people across the world. They are used for just about everything–from shopping and ordering pizza, to reading the morning news and finding out about the latest technology. Once you’ve bought a computer, its almost impossible to live without one. If your old desktop or laptop is running too slow or has finally “given up the ghost”, it may be time to get yourself a new computer. But how can get you get a new, good computer without getting into big debt? Well, you have some easy options available.

One way to safely get a new computer without risk to your personal finances, is through layaway. Many retail stores features layaway programs where you can get a computer through easy, affordable weekly or monthly payments that require no credit check and also don’t require you to pay interest. The only problem with layaway is you have to wait until you’ve paid the computer completely off before you can take it home to play.

Another option for people interested in getting a new PC is through a credit card. Credit cards enable you to make purchases on credit without running to the bank for cash. While credit cards do have interest, they can offer you a solution if you’re looking for low monthly payments. With credit card payments, you can choose to pay the amount that you’re most comfortable with. If you would prefer to make only minimum payments, you can do that, if you want to pay the computer off with 2 or 3 payments of $200 or more, you can do that too. Credit cards are completely flexible and work into your life.

You can also get financing from the computer manufacturers themselves. Sony, HP, and Dell all feature financing programs for customers. While these programs are typically reserved for people with above average credit, anyone can apply for them. Once you’ve filled out the application for their credit line on their website, you can find out if you’re approved or not within a couple minutes. Once approved, you can buy whatever you want from their website (within your approved limits). If you do choose to get financed through the laptop or desktop manufacturer, make sure you’re careful to not get yourself into debt or monthly payments you can’t afford.

Do you want to learn more about laptop financing? Find out more about similar topics from the author’s website that has all the information you need to know about getting a bad credit notebook.

Computer Financing FAQ:

Question: I financed a computer for my aunt. She made my credit go from excellent to fair. What can I do to fix it?
I have an aunt with an inability to handle money. My credit was excellent (score around 760). My aunt’s husband had a business he ran out of their home and their computer died, so they needed a new one. They asked me to finance one for them and they would make the payments. Against my better judgment, I did it. Earlier this year I got a call asking why my payment was late. I called my aunt and she insisted it wouldn’t happen again. Then just recently, I found out they were FOUR payments behind, the balance was 3 dollars and some change less than the original balance was two years earlier, her last check of $25 bounced, and the account was closed and sent to collections. My credit has dropped over 100 points and gone from excellent to fair. I have transferred the balance to one of my own credit cards and am handling it myself, and hopefully my aunt will pay me. Is there anything I can do to get my excellent credit back?

Answer: Mistake #1. Co-signing for someone and not keeping track to make sure they were keeping up payments.

Mistake #2. Paying off the debt by transferring it to another card. Now that they have their money, you are going to find it extremely difficult to get them to help fix your credit.

The only way to remove the negative item from your credit report is for the creditor to do it. The only option you now have is call them up and explain what happened, and ask if they will remove the negative item from you history. Very little chance of that happening, but it’s your only hope.

The only other thing to do is keep up your good credit habits. Eventually it will improve, but it will be a few years.

Question: Financing a computer…I don’t have great credit but fair credit and need suggestions on where to go to finance a laptop.

Answer: I would suggest applying for a Best Buy card. You can use it for any kind of laptop and anything else, and it’s supposed to be fairly easy to get. Plus, you can get 0% financing for 18 months a lot of times.

But, if it’s your credit that’s messing you up, try cleaning your credit first. It takes 30 days and you would have a much better chance of getting a card anywhere.

Question: Is there a place or way to finance a computer with poor credit? Pcsforall.com?
I’ve been looking all over the internet to find a way to finance a computer but have been rejected by a few companies due to my student loans on my credit. Then I ran across pcsforall.com and read how they can give you a computer for just 3 months of payment before shipping out your product. I may try it, but I’m skeptical. Does this truly work or are there alternatives?

Answer: You could try bluehippo.com. They finance without a credit check. All you need is a checking account!

Question: Financing with a computer?
I’m considering buying/financing a new computer. Now I’m more interested in how the financing works more than getting the computer itself. The computer would cost 1175.93$ now it says interest does not occur for 18 months. The payments are 10$ or 1%, now I know at that rate I would be paying off forever. Over the 18 months paying at a rate of instead 2% would leave me with 744$ to pay off. Now interest occurs. I need to know how it works.

Answer: If you save up and pay cash for it, you don’t have to worry about the financing rates. You will also get it at cheaper. People spend between 12 – 18% more when financing studies show. Forget the financing. Pay cash. You’ll be much better off in life if you avoid debt and use money you already have. However the math indicates that if you want to pay it before 18 months you have to pay 65.33/month for 18 months. If you wait until interest starts you will be hit with every penny of interest from the date of purchase and end up paying a lot more than $1175.

Question: Where can I finance a computer with no credit?
I have no credit and want to buy a computer that I can make payments on. Anyone know of a site I can get one at?

Answer: Dell Computers offers a credit line. Low minimum payments – high interest. Easy to quality if you go on-line to the dell site and click “apply for dell preferred account’ (DPA).

Question: How often does Best Buy offer zero percent financing on computers?
I’m looking to get a mac laptop from bestbuy, but want to wait until one of their zero percent interest deals. Let me know what you know on this matter.

Answer: Everytime I have bought something over $200 they ask if I want the zero% interest for so many months, so I’m pretty sure it happens very often. Just call your local Best Buy and ask them. Go to bestbuy.com and at the top of the page there will be a store locator button, press it, punch in your zip code and they’ll give you the stores near you and the number.

Question: I want to buy a computer. What is the best route?
My credit pretty much bites. I am trying to make it better. I want to buy a computer and make payments but no one will finance me. Has anyone used Bluehippo, pc direct or computer financing? Whats my best route to go, and no I can’t pay cash.

Answer: Save up your money and buy from Costco (most brands are available) which have a 6 month return policy for any reason.

Question: Is it unwise to finance a computer?
I am looking into buying a Macbook Pro, but at $2500, its quite a bit of money to save for when there are financing options.

Answer: Other than a house you should never finance anything. Easy said but life will be very easy also if you do this. Get what you can afford, if you can not afford what you want then work harder, spend less and buy one with cash.

If not, then you can be all your friends with car loans, furniture loans, computer loans, vacation loans, school loans, and live the american dream with somebody elses money and your promise to pay it back.

Categories: Computer Financing
1Jan

Computer Financing – Information For Beginners

Posted by Credit Financing Guru on 30th January 2010

Computers are now a part of everyday life, and with computer financing they can be an affordable and useful part of your life as well.

Thanks to increasing demand, as well as competition from wholesalers, which allow consumers to purchase separate components and build customized computers themselves, retail prices for computers have come down significantly over the years, making a computer an affordable investment for virtually anyone who wants one. What was exclusively a tool for businesses or governments only a generation ago can now have a place in every home. However, even the relatively low prices of today’s electronics market are beyond the reach of some. That is where computer financing comes in.

Think of the way we buy our cars, our homes, anything we need which carries a high price tag. With computer financing, you can buy your desktop or laptop computer the same way. A wide variety of programs are available, placing the power of computers – word processing, email, the world wide web, streaming video, and more – within the reach of almost anyone.

Computer or laptop financing works the same as car or home financing: You, the consumer, promise to pay the full price in monthly installments over a period of time agreed upon by both you and the seller. This way, you need not worry about finding money to pay the full price of your computer right away; you need only concern yourself with making the monthly payment, which, depending on how your financing deal is structured, can be as much or a little as you could reasonably afford to pay per month.

In addition, like financing for a home or a car, computer financing can even be secured for those of you with bad credit, or no credit. Many organizations exist which specialize in providing financing for buyers with bad or no credit, though the interest you are asked to pay in addition to the initial cost of the computer may be higher than for someone with better credit, due to the higher risk on the part of the lender.

The internet is filled with websites offering computer financing, and most retailers will also allow you to take home the computer of your choice in exchange for regular monthly payments. Thanks to computer financing, the world of computers, with its opportunities for commerce, communication and creativity, is now open and accessible to virtually anyone!

Shawn loves all things technology. It has a site that helps people learn about computer financing. Check out his website and learn everything you need to know about financing and even buy now pay later programs.

Computer Financing FAQ:

Question: Financing a computer or rent to owning it (in Canada)?
I am looking into getting a new computer but cannot afford the cost all at once. Just wondering if anyone knows what you need, like a credit card or drivers license or what?

Answer: It’s the same as anywhere else. Buying a PC can be only $600 which is great and not too expensive, just save up. Most financers (MDG is a Canadian PC financer) are like “pay 99c a day” but end up costing more than it was worth. Just save up.

Question: I would like to know the easiest place to get financing on a computer?
I live on a fixed income and really have no credit rating.

Answer: It would probably be easier to save up and buy one from a store. I doubt if you could get good financing with no credit.

Question: I have bad credit and need a new computer?
I have terrible credit and I need a new computer. I know I’ll take a beating if I go through a computer finance company but I need a new system NOW! Does anyone have any experience dealing with these type of companies and if so what is the best and most honest one?

Answer: Since your credit is really bad my opinion is for you to find a used hardware shop and pick yourself up a machine cheap ($100 – $200) that will WORK to cover your needs for right now. Then get your credit straightened out and don’t be a bad steward of your finances. Then get a computer that you’ve either saved for or pay low interest for. You NEED to have good credit as having bad credit not only effects you paying more for a computer but more for insurance, cellphones, credit cards, etc.

Question: Where can I get approved no matter what my credit is for a computer?
I heard you can get a dell or gateway computer financed no matter what your credit is. If so where or how do I get one?

Answer: You might be better off saving a few hundred bucks to $500 and buying a very good used one, instead of buying a new one that will only we worth that much in a few years. If that is not an option you might try one of those places like Rent A Center. You can rent to own.

Question: Our family just filed bankruptcy. Would we still be able to get a computer financed through best buy?
It’s a very long story. But we’re not bad off. Its just our credit card bills were taking up a good half of our income. I always see ads in best buy’s paper about 0% interest for 18 months, low payments blah blah blah. Would we still be eligible for that?

Answer: For the time being, do not even apply for any kind of credit. You won’t get it, and your credit application will further keep you from getting credit in the future.
1. Pay cash for everything. If you can’t afford it, then do without it.
2. Open a savings account. Savings accounts can be opened by anybody. Use the savings account to deposit pay checks, etc. Withdraw the money you need for living expenses. Always keep a balance in the account.
3. Stay away from credit card offers you receive in the mail. They charge very high interest which will land you in hot water again.
4. Rebuild your credit by taking out very very small CO-SIGNED loans. Ask a relative or understanding friend to co-sign. Pay back these loans as soon as possible.

Question: Where can I finance an apple computer with out a credit card?
I want to finance an apple computer to boost my credit score but I don’t want to open a credit card.

Answer: Best Buy sells Apple products now, and getting financing from a department store is usually easy for someone who is building credit.

Question: Can I finance a computer at 17 years old if I have an adult co-sign it?

Answer: Probably not. You need to be 18 in order to be legally liable or enter into a contract. Rather than go into debt perhaps you should consider finding a job and save the money so that you can pay cash. It will save a lot of money in interest and you will not need to worry about missing payments. If you work hard and save your money it won’t take long to pay cash.

Question: Financing a computer?
I got a job making on average 2000 a month. I went to HP’s website and custom built a computer and then applied for e-financing. I was denied for having no credit or how they put it: limited account activity or debt. Any ideas how can go about doing this? I cant buy this computer outright.

Answer: There is no way to go about getting financing for this computer. You would be declined anywhere you apply because you have no credit for them to base their decision on. You probably built a pretty expensive computer (that really doesn’t matter though, they would have denied you for a $500 computer)

Only thing you can do is see if someone will cosign for you. And, that would actually not be smart for someone to do for a piece of machinery that depreciates and you aren’t in dire need of.

I would take as much of that $2000 you make a month and put it aside to buy this computer by a certain date.

Don’t go to a rent a center type place for a computer, you will pay through the nose, and they don’t report to the credit bureaus to increase your score, they only report if you don’t pay or take off with the merchandise.

Categories: Computer Financing
1Jan

No Credit Check Computer Financing – Computer Financing at the Click of a Button

Posted by Credit Financing Guru on 30th January 2010

With the advancement of technology, the world has become a small village whereby you can interact with anybody at the click of a button. There is a catch in all this, you must own a computer for you to be able to interact successfully with other people. Now, to own a computer calls for money and you may be lacking it. To resolve this particular issue, the financial market and the sellers, and the manufacturers of computers came up with an option in which everybody in the UK can be able to own their own desktop computer. This option caters for those people who lack the finances required in the purchase of computers. It also takes care of the population who bears the bad credit tag on their shoulders. This option is known as no credit check computer financing and is available for everybody in the United Kingdom.

The no check computer financing is especially helpful to those people who find themselves with the bad credit score and they want to own their own computer. All they are required to do is provide proof of some regular employment and salary for them to get the financing being done. The lenders do not mind as long as they can be able to repay the advanced amount. The catch here lies with the interest changed on their loan amount, it is slightly higher than what is charged for a normal loan. The good thing with these loans is that, if the holder of a poor or credit record repays their loan installments regularly, their bad credit image is mended. The computer financing company’s go by many names in the UK for instance, computer financing option, computer finance UK, easy computer finance, no credit check and guaranteed computer, laptop finance. The bottom line is that they all do the same thing, and that is advancing loans for the purchase of new or re-conditioned computers.

The loan advanced for no credit check computer financing is in two forms. There is unsecured form and secured form. For unsecured financing, the borrower is not asked to pledge any type of a security. While in the secured form, the borrower pledges an asset in order for the lender to avail the loan to them while the opposite is true. In the unsecured form, the borrower’s salary is the collateral. All in all, no credits check computer financing is the best option for every Briton who feels the need to own a computer. But before you settle on any financing agent do a thorough research so that you get yourselves the best deal.

Peter Thomsan is Financial Advisor of No Credit Check Computers laptop.For more information on Laptops financing [http://www.nocreditcheckcomputerslaptop.com/laptop_financing_no_credit_check.html] No Credit Check Computer Financing visit [http://www.nocreditcheckcomputerslaptop.com]

Computer Financing FAQ:

Question: Do any Computer manufacturers do their own financing for personal computers?
I want to get a new desktop computer for my home. Do you know of any manufacturers that actually offer financing through their own company?

Answer: Dell does. In addition to Dell, normally best buy runs 6 months same as cash.

Question: Financing a Computer with a Low Credit Score?
I’m currently 19 almost 20. I have a Credit score of about 540-560. I have one credit card and another one I just got approved for 2 days ago on its way. I want to buy a computer from Bestbuy or Frys electronics because I need it and want to raise my credit score. I’m not worried about the interest rate or anything but will I need a cosign or will I manage to get it financed on my own. I’m looking at about a $700-$1100 PC. Will it be a hit or miss for me most likely if I try by myself.

Answer: Rather than financing a computer for $700, you should buy a computer for closer to $400 (yes, basic computers do exist for that amount, and still let you do basic necessary computer functions), and wait until you have saved this money up rather than financing it.

If you want to improve your credit score, taking out a loan to pay for a computer is not the way to do it.

Question: Is this computer, which I intend to finance, a good gaming machine?
Specifications: HP Compaq 6005 Pro – SFF – 1 x Phenom II X4 B95 / 3 GHz – RAM 4 GB – HDD 1 x 320 GB , 1 x 64 GB – DVD±RW (±R DL) / DVD-RAM – Radeon HD 4200 – Gigabit Ethernet

Answer: The HD4200 is integrated graphics on the AMD 785G chipset, so you’re not getting great gaming graphics. You’ll want to buy a newer add on graphics card. In my opinion financing a computer is a waste of money. You’ll end up paying much more than the pc is worth in interest, and it’ll be obsolete by the time you pay it off.

Question: Computer Financing?
I have a friend who needs to get a computer but has terrible credit. Is there a website that finances computers for bad credit individuals?

Answer: You can get a decent used one fairly cheap. No need to take on more credit especially when your friends is already bad. If you could get financed you would have to pay a very high interest rate.

Question: Does anyone know anything about coast2coastpc? This a computer financing company I am looking for information.
This is a computer financing company and not a show or video.

Answer: Go to the Better Business Bureau. On this site you can find out about any company, if it is a legitimate company. Contact BBB for a BBB Reliability Report. A summary of activity reflected in a company’s BBB file. Includes basic business background, BBB Accreditation information, and BBB complaint activity over the previous three years. Also reports may include any known government actions, advertising issues or other information that results from activity conducted by the BBB.

Question: What is a good website for ordering a computer online with financing?
I want to buy a bigger, better and faster computer with LCD screen. But I am needing online financing but not with DELL.

Answer: Newegg.com is by far the best place to buy computers and components and they now offer financing. They deliver real fast and have an absolute over-the-top customer service.

Question: I ordered a computer from Financing Alternatives,INC. I haven’t been able to get through to them.
It has been six months sense I ordered a computer from Financing Alternatives, INC. I have not been able to get through to them by email or phone. They have been getting payments from me and I don’t have a computer yet. Is there anything that you can help me find out how I can get my money back or the computer I ordered.

Answer: Its possible you have been scammed. I would cancel the recurring payments and talk to your bank about contact information.

Question: Stores or EStores that allow computer financing?
Are there any reputable stores or estores that allow you to purchase a laptop/computer and make payments on it – instead of paying in full at the time of purchase?

Answer: Yes, Dell and Apple both allow you to purchase and make payments. Dell allows you to do this via their web site or by phone and you can order what you want. Apple allows you to purchase via their web site or at their store. I am not sure if you can order over the phone. And both will open an account for you.

Categories: Computer Financing
1Jan

Computer Financing With Bad Credit

Posted by Credit Financing Guru on 22nd October 2009

You’ve got a good job, steady income, pay your bills on time, yet can’t even get financing for a candy bar. Many people find themselves in this very situation after unexpected unemployment, divorce, or bankruptcy. Maybe you haven’t been able to establish a line of credit at all, good or bad. So how can you finance a new computer with bad credit?

One way to finance a computer would be to get a small personal loan from a bank or credit union. Personal loans are probably the easiest to secure, especially if you have some form of collateral. This of course is not going to be an option for everyone, but it’s worth a shot and will be the cheapest way to get your computer financed with bad credit.

Financing a computer with bad credit through a rent to own store is something just about anyone with an income can do. Though you’ll likely be able to get a computer this way, it isn’t highly recommended since you could end up paying up to three times the retail value of a most likely used computer. Rent to own should be a last resort.

Put a computer on layaway at a retail outlet like Wall Mart. If you have a sizeable income, but just don’t have good credit, this may be a viable option for you. The only draw back with putting a computer on layaway through a retail outlet is that it will be a shelf computer meaning “as is” and you’ll need to pay in full in about 90 days.

In recent years there have been computer financing companies willing to take payments via check by phone provided you have a valid checking account. If you have poor credit and want to get guaranteed computer financing, and need to break up the payments, plus pay what the computer is worth, this is going to be a very good option for you.

Computer financing with bad credit isn’t always easy, but it is possible. Ironically, you are likely going to pay slightly more for financing with bad credit than you would have if your credit was good. On the bright side, you may be able to boost your credit rating a little bit if you keep up on your computer payments.

Daymon Hoag is the founder of Cheapest Service where you can shop for Bad Credit Computers – Laptop – Desktop – Computer Financing


Computer Financing FAQ:

Question: Is it legal for a company to charge you $3000 for a $1000 computer?
My son is a marine, he is only 18 and got suckerd into buying this laptop from a kiosk that is only worth $1000. They “financed” it for $4000. Is this legal?

Answer: In general, yes they can. There are special protections available to servicemen, he needs to ask if they can help. This is why a credit card is so important, he would have had ten days to change his mind under any circumstances.

Question: Why the heck do you need to get financed just to buy a computer?
I hate those dumb commercials. They have people on there saying, “I couldn’t get financed, so I couldn’t get a computer.” I’m thinking, “You don’t need good credit to get a computer. I got my laptop and I don’t even HAVE credit.” Man! People are so naive.

Answer: When you buy a mac you need credit..unless you have $2500 cash to just throw into a laptop..which actually you probably would have money to throw away if you had good enough credit to get the Juniper card needed to purchase a mac…those cards are like impossible to get.

Question: Does anyone know any good bad credit financing websites for Computers and laptops?

Answer: The only company that I know finances for computers and laptops is Blue Rhino. I’m not sure if they’re still in business. You can also try the Home Shopping Network. They do their own kind of financing. But since laptops are so cheap nowadays, people just pay with a credit card or cash.

Question: Dell computer loan help?
A really good friend of mine asked me to finance a dell computer in my name last year and i did it for him. At the time he said he would have it payed off in no time. Well a year later almost the full balance remains. What can I do? Can I get the loan transfered to his name?

Answer: Nope and don’t do things like this anymore. It’s just bad practice.

Question: Is it possible to finance a laptop at bestbuy?
I’m looking for a computer and I don’t have that kind of money to spend at once and best buy seems like the best store.

Answer: Depends. Financing plans are available but you have to have a BB Credit Card first. If you are under 18 this might be a problem.

Alternatively, work out something with your parents where they purchase/finance the laptop and you pay them back.

Question: How come I can’t get approved for credit?
Ok, my computer that I’ve had for the past 3 years is about to go belly up on me, and it’s vital that I have a computer because I do most all my bill paying and banking on-line. My credit score is 720 and I’ve tried using bill me later with tigerdirect.com and getting an alienware credit line, but I can’t get approved for a few hundred dollars in credit to buy a decent computer. Can someone tell me why even with a score of 720 I can’t get financing for a computer? I know this is a stupid question but it irritates me how the system works.

Answer: Your score really is not much of a factor in getting credit approved. It’s what shows on your actual credit report. You probably have a limited credit history — too few accounts and/or too new. Or your debt to income ratio may be too high.

Question: This is about HP computer financing?
Is it worth getting HP computer financing where you pay 20 dollars every month? I want to get a new computer because my dell laptop sucks and does not work right but i don’t have 400 dollars to just blow on a computer. If it is worth it how much more to the normal price of the computer do you pay and how long does it take to pay off?

Answer: It depends on how many months you have to pay 20 bucks! Just make sure you calculate the total payable, and then minus the 400 to see how much of a premium you are paying. If you think it’s reasonable then go ahead and get it.

Question: Financing on apple computers Canada?
Last year I broke my MacBook and it’ll take me a few years to have enough money to buy a new one. I was wondering if there were financing options for apple products in Canada.

Answer: I’m pretty sure they will finance it for you, if you qualify. Why don’t you go to apple.com/ca, and try to buy one. When you go to check out there should be a link right under the total price for financing.

Categories: Computer Financing
10Oct