By: Marc
Computer financing in general and Computer financing for bad credit are both on the rise. Seems EVERYONE has a computer these days.
Afterall, it is the 21st century and computers have become a vital part of our daily lives.
They're used on the job and for job hunting - for recreation & entertainment purposes - checking emails & surfing the web -- and many people are even launching profitable home businesses with their PC!
We can go on & on about the various uses for computers in this day & age. They've practically become connected with EVERYTHING we do.
Whatever your desire is for wanting your own PC – you definitely need to get one real soon…because quite frankly, those who don't have one by now are falling further & further behind in the society by-the-minute!
But if you have bad credit (or even no credit at all) saving up enough money to purchase a computer of any real quality can pose a real challenge.
It may be that every time you turn around some other financial obligation PoPs Up demanding your attention, further delaying your quest toward computer ownership. Before you know it Months have passed and maybe another year has slipped away…but yet & still you're without a computer.
Well Instead of waiting & waiting there are lending companies like OraclePath.com that specialize in this area. Their job is to help people with bad credit to secure computer financing. However you must know what to look for - as well as what to watch out for when searching these computer deals, so read on...
Preparation
Computer financing for bad credit will most likely include higher interest or payments, and some form of down payment upfront (or spread out over several months). Stricter terms are to be expected when you have bad credit so that should be no surprise there.
The key here is to pinpoint where you can get the best Computer Financing for Bad Credit deal. Shop around and compare, you might be surprised at what you can find. Competition in the industry means more attractive and flexible offers for you.
So although you want to get your hands on that computer quick, fast & in a hurry!…slow down for a moment and do some research so that you can land the best opportunity for Bad Credit Computer Financing.
Popular Scenario
Typically "Computer Financing for Bad Credit" companies will provide a form of "lay-a-way" financing. In this situation you would be required to make a string of payments spread out over two to three months before your computer is shipped. What you are doing in this process is making "good faith" payments and building up credit with that particular financing company.
Then once you have proven yourself by making that initial string of payments consistently, they will agree to go ahead and "finance" your computer package. After you receive it you are expected to continue to pay on your package until you have it paid off. Plans are usually set for 5-6 months worth of payment until you own all equipment.
You may be able to prepay or double-up on payments to speed-up the process. However, make sure in advance that there is no early payment penalties for doing this.
Here's the Deal...
These computer financing arrangements oftentimes come in the form of 'package deals'. This means that not only will you get a computer, but it might also include extras like a printer, softer bundle, internet service, digital camera, etc... This could make for a great deal, because if you tried to purchase the same equipment from a retail store piece by piece, you just might wind up paying much more.
However be advised that these Computer Financing for Bad Credit companies will more than likely NOT release all of these goodies upfront. Extras are generally released gradually over the course of your agreement which is usually spread out over a 6 month period.
So if you don't mind the wait, this method of "lay-a-way financing" may be a good option for you. Again if you want to speed up the process – these types of computer financing companies may allow you to prepay/double-up on payments so that you can get all of your items quicker, just be sure that there is no early payment penalty.
5 Key Things to Look For
1) Company Website – If the company that you're considering doesn't have at least a basic website in this day & time (especially being that they're in the computer business) we'd highly recommend that you NOT do business with them. This is an indication that they're probably a start-up/non-established company or a potential scam operation.
2) Credit Reporting – It's not just about getting a computer but you want to improve your credit too right? It's important to choose a company specializing in computer financing for bad credit that reports to at least one of the Major consumer Credit Reporting Agencies i.e. Experian, Equifax and TransUnion.
3) Contact Info. / Customer Service – Make sure to check to see if the Computer Financing for Bad credit company has valid contact information -- and also a dedicated customer service department to contact. Although not always the case, but usually so, if a company has a sales number for ordering but doesn't have a separate customer service line -- then usually this is a recipe for frustration.
4) Negative Reports – You can check with the BBB (Better Business Bureau), FTC (Federal Trade Commission) or other consumer protection agency to find out about any excessive negative reports. We say "excessive" because even the best companies may have a complaint or two.
But if you find the same complaints over & over again from different people, then most likely it's a valid warning to take heed to! You can also ask around or search for any customer reviews via the search engines or other public sources.
---------------------------------Note-------------------------------
Just because a company is Not a member or Not listed with the BBB, doesn't make them a scam. Becoming an accredited member is a great 'optional' paid membership that some companies have chosen to partake in. And no doubt it speaks Volumes about their good intentions of upholding quality customer service. However, you'll find both 'Member' as well as 'Non-Member' reports with the Better Business Bureau -IF- a consumer has filed any negative reports about a company. Take into strong consideration what the Better Business Bureau has reported about them. However, the BBB is not a be-all-end-all. It's best to view them as one Major Avenue to check-up on a company – combine this with reports from other consumer protection organizations, read customer reviews, ask good questions, etc… so that you can make a good 'overall' educated decision.
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5) Computer Specs & Condition – Be sure to get clear detail about your potential computer purchase. Is it used/refurbished or new? What are the specs and will they meet your needs? Is the computer upgradeable? These are some key questions that you need to consider when shopping for Computer Financing for Bad Credit.
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Article Source: http://www.articlesbase.com/ - Computer and Plasma TV Financing for Bad Credit, The Real Deal!
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