Computer Financing With Bad Credit

Posted by Credit Financing Guru

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 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, and try to buy one. When you go to check out there should be a link right under the total price for financing.

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