The average American has a FICO credit rating of 700, which is not too bad. Such a person can get a loan quickly from many traditional institutions, but there are instances when flexible lease-purchase programs are a better deal. When you meet the love of your life, this financial option is perfect for buying an engagement ring.
Relying on engagement ring financing through flexible lease-purchase programs is a great way to ensure you don’t break the budget while buying the perfect ring. To ensure that your significant other is happy, however, you need to know how to choose the right ring. The following are some tips on how you can do just that.
Choose Your Budget
You want to do something extra-ordinary: that’s why you are looking at financing options in the first place. Although engagement ring financing is a savvy financial investment, it is still prudent to have a budget. After all, a more expensive item will have higher monthly payments. Look at your finances and decide the amount you can comfortably pay in monthly installments. To help determine your budget, consider all the other bills you have to pay at the same time, including student loans and insurance payments.
Learn About Different Jewelry
There are certain things you need to know about the various jewelry options available to you. Some of these facts pertain to the cost of purchasing and maintaining the jewelry. For example, you will quickly find out that your engagement ring’s diamond needs to be taken back to the jeweler every once in a while to ensure the stones remain in place. Sterling silver, on the other hand, needs to be polished to maintain its luster. Each jewelry option has specific care tips designed to keep the ring looking beautiful for as long as possible.
As you learn about the jewelry and the jewelry financing options available to you, you might also want to debunk some myths about some gems. Some stones are said to cause bad luck. Be subtle when you inquire about your future spouse’s preference so you can guarantee the proposal will be a surprise.
Know Her Ring Size
You have arranged for financing, gone undercover, and chosen the perfect ring: the last step is discovering her ring size. Do not assume the ring size; find out her exact size before you bring the ring home. There are many ways you can find out the size without ruining the surprise. One of the most common ways to find out the ring size is by taking a ring she is already wearing and tracing its size on a piece of paper. Just be sure to choose a ring that goes on the right finger! You could also wait for her to sleep and put a string around the finger for a measurement. Keep in mind that you can always get the ring resized later.
Balancing the Jeweler and the Financier
You need a good jeweler when you want to propose to your future spouse. Since you are going for a lease-purchase arrangement, the jeweler needs to approve this financing arrangement for you to do business. Remember, the ability to select a jeweler is one of the hallmarks of a genuinely flexible lease-purchase program. For more information on engagement ring financing, rely on Okinus.