TV on Credit: Spread the Cost or Pay Later

Are you looking to buy a new TV? Can’t quite afford to buy one outright? In that case, buying a TV on finance might be a good option for you. Many online retailers now offer a credit option to their customers, including deals such as spread the cost, buy now pay later, rent-to-own and interest free. If these sound like something you’re interested in then keep on reading.

Payment Plans

As already stated, numerous online stores now provide their customers with the option to buy on finance, either by spreading the cost over a set period or buying now and paying later. Some even allow you to do a combination of the two; buy now and pay nothing for 12 months and then spread the cost for another 12 months.

These types of deals are ideal if you’ve just moved home or are struggling financially at the moment but with a good chance of turning things around within a few months. Borrowing when you can’t afford it now, or in the future, is never going to end well.

Spreading the cost of products is perhaps the most common credit option as it allows you to break down large expensive items into small affordable sums, which is great for those that struggle to save as a result of over-spending. Paying monthly, weekly or fortnightly are the most common schedules offered by UK retailers.

Buy now pay later finance options tend to vary in period depending upon the price of the item. A more expensive product such as a large TV or sofa will usually qualify for the longest BNPL period, i.e. 2-4 years, whilst something smaller like a laptop or game console usually only qualifies for 6-18 months.

Bad Credit & No Credit Checks

There are a large number of people in the UK with a less than average credit score, usually as a result of irresponsible lending companies allowing young adults to borrow as much as they want. As a result, many older adults now have to struggle to get approved for a finance plan even if they are now financially sound.

For those who have a bad or low credit history you may have already found yourself getting refused credit plans or credit cards. However, there are solutions. Firstly, as you’d expect, it’s always best to try to rectify a problem rather than hoping it will go away. Taking out your credit report can help you to discern what could be causing your poor credit score.

Even with a low credit rating, many customers do get accepted for tv’s on credit. This is because there are a number of stores that are more lenient with their credit checks, whilst others compensate by offering rent-to-own payment plans. It’s important to remember though that if you do have bad credit, chances are you will be charged higher interest rates, so weigh up all of your options before signing up to an agreement.

As for no credit checks, there are very few retailers that are willing to lend without credit checking. Those that do usually still ask for recent bank statements and tend to charge extortionate interest rates.