If you are looking for a computer with practical features to cover the maximum of your task, that too in the most budget-friendly way, we will walk you through some of the best computer financing no credit check options available.
Computer Financing No Credit Check – In a Nutshell
Modern life requires one to have modern solutions through upgraded technology. While everything today has been replaced with faster and innovative alternatives, the same is the case with computers and laptops. Everything can be done on computers these days. However, it can get hard to get such convenience in terms of finances.
Not everyone can afford to make such purchases. That is why several companies offer rental options or buy now pay later financing plans for the customers who even have a bad or poor credit score. To make your lives easy and affordable, we have come up with top financing options to cater to your problem.
Personal Loan
Personal loans can help you finance your computer even if you have a bad credit score. However, the loan amounts that you will be getting here are relatively lesser but do help in building the credit if you make on-time payments. Several companies that offer personal loans for computer financing no credit check include:
1. CashUSA.com
CashUSA offers fast and convenient personal loans for people who wish to purchase laptops to carry out their tasks hassle-free. All you need to do is fill out the brief loan request. As soon as you are accepted the lender presents exact fees and interest rates before you officially accept their offer.
You get the loan decision in minutes and the loan amount typically ranges between $500 to $1000 and the funds are directly deposited into your bank account. The APR of the CashUSA ranges between 5.99% to 5.99% depending upon the customer’s creditworthiness and the lender.
The personal loan term of the CashUSA starts from 3 months and goes up to 72 months. Just make sure you are 18 years old, have a checking account, and are a US citizen.
2. MoneyMutual
Another online marketplace for lenders who help you finance your needs is MoneyMutual. It provides a quick and simple form with fast lender decisions and is a trusted choice of millions. All you need to do is provide your information, wait for the lender to review your information, and get your money.
The application process takes no more than a couple of minutes. The funds are available in your account within 24 hours. Talking of the loan amount, it allows you to get short-term loans up to $5000 with variable interest rates depending upon your amount.
The loan terms of the MoneyMutual also vary. Unfortunately, it is not yet available in NY and CT. Moreover, the application process does not cost you a penny.
3. CreditLoan.com
People having poor credit generally hesitate when applying for a loan which is quite fair in a way. Several lenders perform a hard credit check of your history to make sure whether you are eligible enough to pay back or that you don’t hold any negative balance in your account.
To get a personal loan for computer financing, just prepare your documents, get a consigner, ask for the amount you need, and pay off the debt on time. The loan amount that CreditLoans offers typically ranges from $250 to $5000 with variable interest rates and loan terms.
The funds are readily available in your account within 24 hours. Not only this, but CreditLoans also assists you in improving your credit score if you successfully make on-time payments.
Rent-to-Own Financing
Before we dive into potential rent-to-own computer financing options, it is important to understand the basic working principle of this financing. It is an agreement between the borrower and the lender where the lenders lease an item for a specific time period.
The rent-to-own financing option does not charge the customers with any interest but does charge leasing fees. The payment is spread over the lease time. Buyers can pay in several installments and even buy or return the product at the end of the lease period.
1. Aaron’s
Aaron’s offers affordable monthly payments to rent a computer and to avoid large upfront payments. To top it all, it does not require any credit to finance computers, desktops, tablets, and laptops. It might perform a soft credit check before approving but does not have any set credit requirement to be eligible.
Get the budget friendly-low payments and brand name quality products at Aaron’s as they provide a free delivery right at your doorstep, in addition to the service and repair if needed. The payment schedule that the company offers is weekly, bi-weekly, semi-monthly, and monthly.
To apply for Aaron’s financing, you need to provide your name, contact information, SSN, government issued-ID, verifiable income, and at least three references.
2. Rent-2-Own
Rent-2-Own rents you high-quality laptops, desktops, and several other gadgets without asking for a credit score and charging high-interest rates. They have the best technology brands and offer fast, free delivery and service if you experience any problem with the rental computer.
The payment schedules offered by Rent-to-Own are weekly, bi-weekly, or monthly payments with a 120-day Same as cash option. You can even earn Gold, Platinum and Diamond level status with your active rental agreement by joining The Club feature on their platform that helps you redeem points to get additional benefits.
To apply for Rent-to-Own financing, you need to confirm from your local store while applying and make the first installment at the time of checkout.
3. Rent-A-Center
Find powerful laptops and flexible payment plans at Rent-A-Center at their computer financing option available. It offers a wide selection of top-of-the-line computers to help you carry out your tasks without having to worry about paying huge amounts all at once. The company performs a credit check before approving you but does not require any credit history.
It offers a payment schedule where you can make weekly, bi-weekly, semi-monthly, or monthly payments as per your own feasibility and flexibility. You can get all the powerful gadgets with excellent graphics and even portable devices enhancing your productivity.
To apply for Rent-A-Center financing, you need to provide your name, have verified income source and contact information, and provide two to four references.
Buy Now Pay Later Financing
The Buy Now Pay Later financing plan is designed to be a point-of-sale installment loan through which customers can make a purchase but pay for them over time. In this, the buyers typically have to make an upfront payment first and the remaining can be paid off as per the designated time.
Every company offering BNPL has its own terms and conditions in relevance to the amount and payment terms. Generally, what you do is make a purchase from a retailer offering BNPL, make a 25% payment initially, and pay off the remaining amount in interest-free installments.
1. Fingerhut Logo
Fingerhut Logo allows the customers to buy laptops or computers being an online retailer and helps them build new credit history and shop with low monthly payments. It has a Fingerhut FreshStart Account for the newbies and Revolving Fingerhut Credit with a higher credit line.
Increase your credit line here with only 3 on-time payments. The company also reports to the three credit bureaus and does not even charge any hidden fees on the purchases. If you are an official Fingerhut credit account customer, you get low monthly payments, no application, or over-limit fee.
For $99 purchase, pay $8/month, for $199 purchase, pay $14/month, for $399 purchase, pay $29/month and for $799 purchase, pay $46/month.
2. Seventh Avenue
Get Buy Now Pay Later financing option with Seventh Avenue Credit and get hold of your favorite laptops, computers, or tablets. With affordable low payments, Seventh Avenue offers in-house credit plans and offers fast and easy approvals.
You can even earn higher limits and improve your credit score by making on-time payments. Pay just $5 more per month and buy up to $200 more merchandise. Seventh Avenue brushes off your worries of having a poor credit score as you may still qualify for their flexible down payment options.
Pay up to $200 and pay only $20/month, for a $400 purchase, pay only $25/month, and on a purchase of $600, pay only $30 per month.
Direct Financing
Direct Financing is yet another type of special financing that you can consider for computer financing no credit check. Here you can directly get the products from the company, in our case the computer brands. Only a few of them facilitate direct financing such as:
1. Apple
At Apple, you can pay for the products you love through monthly payments which are interest-free. To do so, you have to make use of the Apple Card Monthly Installments at the time of check out.
To be eligible for financing through Apple, it is essential that you have good credit. Whenever you shop for the products at Apple using your Apple Card, you can pay monthly at a 0% APR and also earn a 3% daily Cashback.
To apply for Apple’s direct financing, you need to have an Apple ID, iCloud account, valid email address, two-factor authentication, and also submit a credit check.
2. Dell
Dell has its own credit line referred to as the Dell Preferred Account supporting your purchases and helping you acquire world-class technology via flexible payment plans. The financing helps you to buy a variety of products, low monthly payments, and early access to sales.
All you need to do is submit your application and wait for approval. On opening a Dell Preferred Account, you can earn $50 in Dell Rewards. It also does not charge any interest if the amount is paid in full within six months on purchases over $299, and $12 months on purchases over $799.
To apply for Dell Preferred Account financing, you must be the US resident, and allow WebBank or Dell Financial Services to verify your income and credit references.
Does Financing a Computer Affect Credit?
Whether financing a computer affects your credit or not is quite a subjective question. The truth is that it varies from one company to the other. Most of these loan providers, rent-to-own and buy now pay later companies do report to credit bureaus i.e., Experian, Equifax, and TransUnion about your payment record.
If you are responsible enough to make the payment on time, you get a positive impact on your credit score. On the contrary, it might hit rock bottom if company takes a stance on your late payments and reports it to these bureaus.
Before You Go!
Computer financing no credit check platforms offer affordable payment terms. These are fast and secure application processes protecting your information in the best possible ways. Whether you are looking for gaming PCs, tablets, desktops, notebooks and do not have the cash on hand to buy one outright, all of these are one-stop solutions for you.
To conclude, the idea of the impact on credit score depends upon the financing option you choose and the company. Computer financing even with bad credit can make owning a computer possible with low payments if you pay on time.
Miriam Caldwell is a dedicated & expert freelance writer to educate people about personal finance management and budgeting. She shared her knowledge and published the articles at TheBalance.com, GOBankingRates, and BlissfullyDomestic.com. Many financial institutes pick Caldwell as the brilliant source for educational personal finance content.
