Laptop Layaway Plans
Laptop computers are increasingly becoming the only type of computer in a typical household. They have always been relatively inexpensive as well as light and portable, but now they have the added advantage of having computing power that approaches that of the bigger desktop style. Other households are keeping the big desktop computers but adding one or more portable ones for school use or traveling. The bad news for new buyers is that while laptop prices have decreased in relative terms, these computers are still not cheap. But there are several ways you can still manage to purchase one if cash is scarce, such as by paying with a credit card, getting a loan, or using laptop layaway plans. In this article, I will discuss some of the pros and cons of each method.
By far the most popular solution is to break out the credit card. The
upsides of this method are the protection you get in case your computer
has problems, and the fact that monthly payments can be as low as $20
or even less. But the downsides are that you are going into debt, you
pay more in the long run, and you pay even more if you are late with
payments. Only those who are not carrying a large balance on their card
and who are confident that they will not have a problem making payments
should use this method. If you do, try to make a few large payments
rather than many little ones to keep the final cost reasonably low.
Those who want to buy laptops with bad credit or no credit history will need to get a loan or use some type of payment plan. With either of these methods you typically need to demonstrate you have money coming in reliably, such as from a job, and you have a credit card. The downsides for both are that you have no protection. With a loan there is the additional downside that interest rates and penalties are likely to be very steep. With most payment plans the interest rate will not be as high, but make sure you can get your computer right away rather than after making a few payments. But handled correctly, laptop financing can work quite handsomely.
The least expensive way to get a laptop if you cannot pay cash is to take advantage of laptop layaway plans. With these, you pay monthly installments first and get your computer later. Normally you pay much less in interest than with the other methods, and these plans are the easiest to qualify for. However, you do have to wait to get your computer, and there are some unsavory businesses that will take your money but never deliver you your computer.
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