If you have bad credit and are looking to finance a computer, you have probably seen the many advertisements and signs claiming things like ‘Buy Computer Bad Credit‘ or ‘Computer Financing for People With Bad Credit’. There are many such companies offering this financing nowdays, and for good reason–there is a very high demand. Due to the recent market conditions, many people have been left with little cash and bad credit, but they still need to purchase a computer or desktop.
Here are some tips that you can follow if you are wondering how to buy a computer with bad credit:
1 – Save up your money. Of course this is your cheapest option. However, it doesn’t do too much for you in the short term, especially if you need the computer now for school and/or business.
2 – Purchase the computer through Blue Hippo, or another company similar. These companies specialize in financing computers for people with bad credit – that’s really the only people they lend to. Usually, they will offer some type of basic system (sometimes this system is very basic) and then break down how much you owe into monthly payments. Their goal is to be able to offer a computer to people that they can afford on that monthly basis. However, with this option you will pay very high interest rates – sometimes as much as 20% or more, so be very careful. If this is your only option then you may want to consider this type of financing….otherwise its best to pass and find another way.
3 – Get a small loan from your local bank. If you have a good relationship with a local bank and a job, that bank would be the first place you should look to in order to get a loan for a computer. Even a small $500 loan can go a far way when it comes to computers and laptops now days, and the rate on this loan will be very competitive and fair.
Obviously, option number three is by far the best option, but it is also the most difficult to get. But don’t let that get in your way of at least trying to get a small computer loan from the bank.
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