appliance financing

Is It Time to Consider Appliance Financing?

In modern society, we rely on a number of home appliances on a daily basis. But if your fridge is on the fritz or you’ve been without other kitchen basics for months, you might be worried about how much replacement will cost.

 

Fortunately, financing for appliances may be available to you. By exploring your finance options, you can obtain the appliances you need in a way that’s financially feasible. Let’s take a closer look at why you might want to consider appliance lease to own programs.

 

You Should Consider Appliance Financing If…

 

    • You need to replace an appliance immediately: If a major household appliance has reached the end of its lifespan (or you’re afraid that it might break down at the worst possible time), it makes sense to be proactive. When you have to unexpectedly replace an appliance, it may be smart to consider financing so you don’t have to put off your purchase.

 

    • You’re interested in rebuilding credit: Although 20.4% of Americans have FICO scores that range from 800 to 850, most people don’t have such impressive credit. If you’ve had financial issues in the past that took a toll on your credit (or if you have virtually no credit established), one way to build it up is through appliance financing. Although this certainly isn’t the only way to rebuild credit, it can be a convenient way to do so that will give you the products you need while keeping payments manageable.

 

    • You feel loan terms are favorable: In some cases, it may actually make more sense to opt for financing, even if you could technically afford to buy an item outright. If the interest rate is relatively low and you want to devote more of your savings to another large purchase that you’re unable to finance (or that would require a more substantial loan), this may be a better choice for your financial health.

 

    • You’re unable to pay the full amount upfront: One of the most compelling reasons to consider appliance financing is that this option makes a variety of products more accessible. Rather than having to drain your savings or go into debt in order to pay for the full cost of an appliance upfront, you can opt for more manageable payments over time. Eventually, you’ll pay off the cost of the appliance and own it outright. But until then, you can determine loan terms that will work for you without an undue financial burden.

 

    • You don’t want or qualify for in-store credit cards: Many large retailers will offer their own in-store financing options for appliances. But the catch is that you may have to open a credit card for their store, which may not be appealing to many people. Some consumers may not qualify for certain cards, while others simply don’t want another credit card. With appliance financing from Okinus, you won’t be required to open a new line of credit in order to bring home products you need for a price you can afford.

 

    • You want options for flexibility: Ordinarily, when you buy a new appliance, you’ll have to make a commitment to a certain product. Once you bring that appliance home with you, it’s yours to keep. But appliance financing is unique in that it allows you to stop making payments if you no longer like or want the product. If you’ve discovered another brand or model that makes more sense for you, you can simply return the appliance you chose rather than being stuck with it (and losing the full upfront cost in the process).

 

Clearly, there are a number of situations in which it pays to opt for financing. To learn more about financing an appliance from an authorized Okinus retailer, please contact us today.

Leave a Reply