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.
