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Get a Computer with No Credit Check
Computers are part of our lives. That seems like a broad-spectrum statement, but it is also very true. Today we use computers every day for a wide array of activities, including learning, paying bills, banking, shopping, and working.
Today many people work from home. Having a computer at their fingertips means the difference between working and paying the bills and not being able to work at all. In an instance such as this, if you're one of those whose credit has taken a hit lately you're having problems finding a company to permit you to buy a computer over time.
What Are Your Options?
If you've had a setback financially, your credit rating isn't the best, and you want, or even need a computer, what are your options for getting one? Are there companies who will permit you to buy a computer even if you have bad credit or no credit?
Given the economic climate there are companies out there who are realizing that not everyone who's credit isn't perfect is a deadbeat. Many of us are using our computer to either make a living or make extra money. Financing does exist for those who want a new computer and just don't have the money for it, or the credit to get a loan.
Of course the interest will be a little higher, and the price may be forty or fifty dollars more than you might pay in a store, but the reality of it is that if you're in need of the machine, you're not going to mind paying a little more for the privilege of being able to buy it over time.
What's the Catch?
Companies who sell these computers very often want a few months payment in advance as a "good faith" payment. They may ask you for three months payment before your computer is shipped. They will tell you that there is nothing down, but the fact is that the three months "good faith" payments are essentially the down payment.
Some of these computers are shelf models that are not quite as fast as you might like them to be. Others are custom built computers which the company charges a little more for than you might pay somewhere else. Along with the interest rates you may pay as much as 300 dollars more for the computer over time.
Most companies want a bank account number which they use to process your payments. Your payments are automatically withdrawn from your checking account so you will need to assure that your checking account stays in good standing and that the funds are in there on the day they are to be withdrawn.
The companies who offer you "no interest" on your payment plan tend to charge an exorbitant amount for the computer. You are probably better off finding one who charges an interest rate of a fixed percentage.
Most payments start out at about 30-40 dollars per month so they are easily affordable, but they do last for 18-24 months so you are paying more for your computer in nearly every case than a comparable model should cost.
What Is the Best Company to Deal With?
The answer to that question tends to depend on what you're looking for. If you don't have the money for a down payment today and you don't mind waiting for three months to ship your computer, then probably the companies using the good faith payments will be your best bet. You are realistically just paying a down payment in three increments and waiting until its paid to get your machine.
One such no-credit-check company who is selling computers does not ask for the good faith payment, but instead asks for a down payment, which amounts to about 99 dollars. The reality of it is that the three months payment of 25 dollars prior to shipping your computer is just about the same thing as a down payment, spread out over time.
What's the Up Side?
First, the up side is that you need a computer and they are going to let you buy one. The bottom line is that normal financing companies probably aren't going to give you the loan that you need. While it sounds like these companies are taking advantage of others, the reality of it is that they are offering a service to people who can't get a loan for a computer any other way. You will pay for that privilege in some way or another, no matter how you slice it.
A few other up sides to the entire process do exist however.
As listed on several company websites, the up side to buying from one of the no-credit-check computer companies is that:
If you need a computer and you don't have the credit that will permit you to buy one outright, companies such as these can be a lifesaver to you.
As with any other no-credit-check type of service, companies exist who will take advantage of even those who have very little. Make it a point to check out any company with the Better Business Bureau as well as consumer fraud agencies prior to sending any money.
Always shop around to get your best deal and always check out any company that you are going to work with to assure that they are legitimate before you give them any details about your bank account or social security number. Being in bad shape financially does not mean that you should not shop smart and safely.
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