How Can I Get a Laptop on Payments?

Laptop computers can be as powerful as desktop computers, but they are portable and convenient. Because of this, laptops are more expensive than desktop computers. However, there are a large variety of low-cost laptops available. If you can't afford these low-cost laptops or you want something more high-end but can't pay it all upfront, you can get a laptop on payments. However, you will basically have to buy it on credit.

Establish Your Credit

To get anything on payments, you need to have decent credit. You can run a credit check on yourself for free by going to AnnualCreditReport.com. Look for late payments and other problems on your report; if you have a lot of these, it lessens the likelihood you will be offered credit. If you are offered credit, it will likely not be at the best rate.

To get a better idea of your credit, find out your FICO credit score. You can get a FICO credit score by going to websites such as MyFICO.com. A FICO score is an industry standard that uses the data from your credit report to give a number score on your credit worthiness. Anything 700 or over is pretty good. If you credit score is near 500, that's very bad. Scores of 600 to 700 are average.

Credit Card Purchase

You can make a laptop purchase on payments in several ways, depending on the type of credit you have and desire to use. You can buy a laptop with a credit card, and that will effectively make the purchase on payments. You will pay the interest rate that your credit card charges.

Seller Payment Plans

You can buy a laptop from Dell and choose monthly payments. The company will run your credit report to decide whether or not to offer you the ability to buy on credit.

One website that specializes in selling computers on payments to people with poor credit is Blue Hippo. You establish credit with Blue Hippo by making several layaway payments. After you have successfully made 6 to 13 weeks of on-time payments, the company will negotiate a financing deal for the remainder of the balance of your laptop computer.

Anywhere you go to purchase a laptop on payments will require a credit application, and you will be charged interest with your payments. You can't buy a laptop in three simple payments with no interest or something similar unless you can work it out with a small computer store. Even then, the store will want some proof or security that you will make the rest of the payments. You can suggest a layaway plan where the store holds onto the laptop until you finish paying.

Some major department stores are also beginning to offer layaway programs again, and you can buy a laptop on payments in this way. Kmart is one store that offers an 8-week payment plan.

References

• Henry Amon; Information Systems Specialist; Salisbury, Maryland

Resources

• Annual Credit Report
• Blue Hippo
• Dell Financing