Tag Archives: financing
What Happened To Online Computer Financing? (Page 1 of 2)
You may have noticed that there are fewer online companies that offer guaranteed or bad credit computer financing programs.
About 3 years ago there were a number of lenders that were trying to make money by offering individuals with less than good credit, computer loans.
As time when on, the lenders started to see that most of there clients wasn’t paying off their loans.
A lot of online marketing companies believed that they could make a good income by finding the right lenders that would approve computer loans for people with poor credit.
This idea of offering computer loans to individuals that had poor credit worked for a few years.
Over time, more and more computer clients had stopped making payments on their computer systems.
Finally the computer financing companies decided to end all 100% financing programs for individuals that had no credit, poor credit or have filed for bankruptcy.
Over 90% of the companies that claim to offer bad credit computer financing are lying to the public. They cannot finance an individual with bad credit because there financing company will not approved that type of loan.
The reason why online computer financing websites are still taking applications is because they know that there is a chance that some of the individuals that are applying could have good credit.
They know that they can get the good credit individuals approved by there financing company.
YOU CAN STILL GET APPROVED TO FINANCE A COMPUTER WITH BAD CREDIT!
There are programs that still offer computer loans to individuals that have no credit, bad credit or have filed for bankruptcy.
These types of programs would normally require there client to have a checking or savings account and they may require the client to send in a down payment before they would deliver the computer system.
This type of program is one of the best methods for a person with bad credit to receive a new desktop or laptop computer system.
There are other programs that require the client to make a down payment and make a few weekly or monthly payments before they would deliver their computer system.
These programs are a little like the lay-a-way programs that were used by retail stores years ago. Many stores still use this type of financing options.
BAD CREDIT GUARANTEED COMPUTER FINANCING PROGRAMS
If you have any source of income, you can get approved to finance a new up-to-date desktop or laptop computer system.
You must have a checking or savings account and be willing to make a reasonable down payment.
This works for the lender because they are able to offset there lost a little if you decide to keep the computer without making your payments.
These types of computer financing programs will allow you to receive most of the new high speed desktop or laptop computer systems, even if you have no credit, bad credit, unemployed or have filed for bankruptcy.
Why Apply for a Loan?
There are many reasons why consumers take out loans. Two of the most common types of loans used by most consumers at some point during their lives are homeowner loans and motor loans. Mortgages are required by most home buyers who need financing to help cover the costs of purchasing property. Some existing homeowners also rely on their property to secure second charges for various purposes. Most car buyers also obtain lender financing to help cover the costs of the vehicle purchase.
While property purchases are among the more common loans types, borrowers rely on financing or credit various reasons. Some borrowers use personal loans, or the second charges mentioned, to consolidate debt created by other loans, renovate or upgrade property, go on a vacation, make a large purchase, or other important needs. Loans that are secured by property usually come with more favorable rates and terms because they pose less risk to the creditor. This is why secured loans are popular for consolidating debt from higher rate loan and credit balances.
Another type of loan used by some budget-oriented consumers is pay day loans. These are loans that are awarded in advance of a pay period. They are used by consumers who rely on paycheck income to cover basic expense requirements. Some borrowers use these loans to cover financial needs in advance of a pay period. These loans are often secured by personal property, such as a vehicle. They are generally short term loans.
Along with the aforementioned loans, many consumers regularly shop with credit cards. Credit cards are commonly used to cover basic purchases using a ‘Buy now, pay later’ mentality. They are useful at times to cover important purchases, by consumers are often irresponsible with credit cards.
The key with any type of loan is to only take out an amount that is needed and no more. Some consumers do not fully understand the risk posed by taking on debt. Taking on too much in loan debt can create significant financial burdens for consumers. Not meeting monthly debt obligations can lead to a poor credit score, which ultimately makes it more difficult to acquire a loan when it is needed for an important home or auto purchase, or even insolvency and foreclosure in extreme cases. Consumers need to take out loans responsibly, when it makes financial sense to do so. Taking out a loan for discretionary spending or non-essential purchases is generally not advised.