Buying household items on credit can often feel a bit uncomfortable- especially when you’re short on cash. It can lead you to consider whether you really need these items right now or if you should just wait until you can buy them outright.
Beds, bed frames, and other bedroom furniture often fall into the category of things that don’t seem urgent even though they are. Often, people consider upgrading their bed frames or mattresses because they are affecting their quality of sleep or causing back problems. That means, if you’re thinking of getting new bedroom furniture, the time to wait has probably already passed.
But what can you do if you have bad credit? What is the best place to finance furniture?
If you are considering buying beds on finance, bad credit can feel like a major roadblack. For one, lots of merchants can deny you the option of a lease or credit if they do a credit check and see that your credit score is below a certain threshold. To make matters worse, many sellers will also perform a hard inquiry on your credit report which can further drop your credit score.
All this tends to dissuade many people from upgrading their beds and furniture even though they really need to. So, what’s the solution?
If you’re looking for beds on finance, bad credit can make things more difficult, but it doesn’t mean getting a bed is impossible. Here are three main options to consider:
- Pay more upfront
Naturally, the easiest way to avoid getting a credit check in the first place is to pay it off upfront. However, beds and furniture can be expensive, and not everyone can afford to pay that much at once.
There might be a middle ground between paying 100% up front and getting full financing, however. If you can pay 40%-50% of the sum and finance the remaining 50%, the company will be much more likely to forego a credit check.
- Get a friend or family member to cosign
Another easy way to get a financing regardless of your credit score is to find someone with good credit to cosign your lease. Companies love cosigners as they guarantee that the lease or credit will be paid on time even if you are facing difficulties with the payment.
- Find a good Lease-to-Own program
Another great option is to find a Lease-to-Own program that offers good lease conditions with no need for a cosigner or even a credit score. If you have bad credit, companies that offer these programs are likely the best place to finance furniture. Of course, such programs usually come with some basic requirements. Most of these are usually very simple, for example, you have to be at least 18 years old and you have to prove a certain level of monthly income. As long as that’s the case, most good lease-to-own programs will easily offer you quick and fair lease conditions.
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