Plasma TVs on Payment Plans
As we move towards the second decade of the new millennium, most households are switching from the old boxy CRT TV sets to wide-screen, high definition flat panel televisions. There are a variety of reasons for this. Among the most important ones: TV shows are now mostly broadcast in high definition, many if not most households now have high definition consumer camcorders, the cost of going to see a film at theaters is high enough now that many are choosing to watch movies on DVDs or cable at home, and Blu-ray DVD players are becoming more affordable. All of this TV content looks far better on a good, large HD set. Especially on plasma TVs, which tend to have richer blacks and more vibrant colors than the other main HD option, LCD. But most consumers will opt to buy plasma TVs on payment plans, since a good large plasma set costs at least a thousand dollars.
One payment plan option is the old standby of using a credit card. There is the advantage that you don’t have to make any kind of down payment, and you have leverage if there is a problem with your TV. However, you can end up paying quite a lot more in the long run, because of the interest charged. This option is best if you can afford to pay off your TV in a few months rather than making the minimum payment each month.
Most stores will sell you plasma TVs on payment plans if you make a down payment. Be sure that your financing agreement allows you to pick up your TV right away. You have leverage as with credit cards, but the downsides are the down payment you have to come up with, and that your TV can be repossessed if you miss payments.
If you have poor credit or no credit history, most stores will not offer you financing. In this case, you can try a rent-to-own store where they are more willing to finance, and there is the advantage that a big down payment isn’t required. But you end up paying more and the selection is limited. Or, you can get a bad-credit loan, but the interest rate will be very high. For both of these poor credit options, you usually need to show you have a regular income and you possess a bank account.
Do you have poor credit and lack a steady income? Then there is the option of searching on line for a “no credit check” credit card. There are a lot of negatives with this alternative, chief among which are the sky-high interest rates and low credit limit. If this is your only viable way to purchase plasma TVs on payment plans, don’t buy one now. Be patient and save up.
Bad Credit Television Financing
These days having a large flat-panel high definition TV set is becoming almost a necessity, even for those with a very tight budget. For one thing, the cost to go to a movie theater, when you factor in the price of the snacks, parking, and gas, is getting so high that many people are choosing to subscribe to a high definition cable TV service and rent DVDs to watch their movies. Also, high definition easy-to-use consumer camcorders are becoming much more affordable and widespread, as are Blu-ray DVD players. For watching all of this content designed to be seen on a big wide screen, a regular square TV set, or even a small rectangular one that is not HD, just doesn’t cut it. However, while the price for the bigger high definition models has come down over the past few years, you can still expect to spend around a thousand dollars or more. So what do you do if you need to finance a TV, but you have bad credit or no credit? Here is a guide to bad credit television financing.
First of all, you need to get the best deal you can. You should always comparison shop online thoroughly before you decide which model to buy. You are losing most of the advantages of high definition if you get a TV whose screen is less than around 40 inches wide, but you should certainly consider getting a 42 or 44 incher instead of one that is 50 inches or more.
If you have poor credit or are without a credit history a good place to try buying from is a rent-to-own shop. You start off renting but as long as you keep up with your monthly payments you get to keep the TV. If you don’t keep up with your payments though, your TV will be repossessed. Another option is to get a bad credit loan, but remember that the interest rate is likely to be high, and penalties for missing payments severe. In order to use both of these options you do need to have a documented steady source of income, a bank account and probably some references.
Absent a steady source of income, the other option for bad credit television financing is to search online for a credit card that requires no credit check. Again, the interest rate will be high, and the credit limit will be low, so you may have to make part of your purchase with cash.
