How to Finance a Laptop With Poor Credit
Poor credit does not have to get in the way of you obtaining a laptop. There has been an increase of financing companies that allow those with poor credit to finance laptops. There are, however, certain financial resources you must have in place to increase your chances of being financed. Some companies do not even require a credit check when financing a laptop. Understanding and being able to provide proof that you can adequately pay for your new laptop is the first step toward approval.
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Instructions
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Open a checking account through your local bank or an online bank. You can go on bankrate.com to find banks that have the best interest rates for your checking account. Having a checking account will increase your chances of approval because the financier may take the payments directly out of your checking account.
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Consider direct deposit of your paycheck. Financiers like to see direct deposits into your checking account because they know that funds from your employer will be deposited no matter what. This also increases your chances of being approved. Speak with your bank and your employer to determine what paperwork is necessary to establish direct deposit.
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Obtain a copy of your credit report. Increased inquiries of your credit report can cause a decrease in your credit score. Therefore, obtain a copy of your credit report with your score from Equifax.com, Experian.com and TransUnion.com. Knowing your credit score and having your report will allow you to furnish this information to the sales representative, which will allow him or her to give you the likelihood of approval or denial.
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Contact a local rent-to-own company. Companies like Rent-A-Center (RAC) allow you to pay for your laptop on a weekly, biweekly or monthly basis until it is paid off. Many of these companies do not require a credit check, but they may require proof of employment and either your mortgage or lease to prove your residence.
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Obtain a small loan from a community of lenders. Prosper.com is a website of individuals that pool their money together to offer loans to those with various forms of credit. With poor credit, you can apply to the site and request financing for the laptop. Be sure to know your salary, debt and expenses, as the better the picture you can paint that you can repay the loan, the better are the chances that you will be approved.
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Find home shopping television channels. The Home Shopping Network, Shop NBC and QVC are examples of networks that allow you to purchase products. Sometimes they have laptops that you can split into five or more payments. They also sometimes randomly check your credit.
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