Get a Computer with Bad Credit

Why should you get a computer?

Getting a computer is important if you want to survive in the 21st century. As the world becomes more interconnected and information oriented, it is key to have the technology available to harness that information. Whether you're a business person, a student, or a single mother, having a computer makes life a whole lot easier. Having bad credit can make buying a computer a difficult thing. Whether you finance your computer through a credit card, a layaway, or a personal loan, bad credit can make doings things a whole lot harder.

When choosing whether getting a computer or not, you need to first decide if you can afford one. While they do make things much easier to do and learn about, if you can barely pay your bills or keep food on the table, you should reconsider buying one. But, on the other hand, if you have steady income and a very low risk to losing your job, buying a computer may be the right choice. Even if you can't afford a computer now, you can start saving your money for buying one in the future and instead, use public computers which available for free at your local library. Never, when buying anything considered a luxury, should you sacrifice necessities like food, clothes, and shelter to purchase said luxuries.

Woman using computer
Woman using computer

Financing a Computer With Bad Credit

When you're getting a computer financed, you need to be careful with who you deal with. Some companies will make promises about their computer finance programs and secretly add fees and large amounts of interest to your purchase. Before financing a computer from anyone (especially if you have bad credit), you should read all the fine print in the contract.

Hidden in the contracts that you sign for any loan could be clauses that could devastate you financially. If you think your credit is bad now, imagine it after missing payments for a loan on a computer that are too high for your to afford. Often, when getting a loan or credit card, especially if they have 0 down, 0% financing plan, you can end up getting screwed royally after the terms of the agreement. For example, if you get a credit card with a retail store with a 0% interest and 0 down for 12 months special, while you don't have to pay for purchase now, you can end up paying 300% more later. While you don't have to pay for the interest during the first 12 months, the interest still accrues secretly in the background. If you fail to pay off the credit card before the 12 months is up, you can end up paying over $200 dollars extra on a purchase that was originally $400. Imagine your suprise when your minimum payment jumps from 20 dollars to over 50!

Creditors also look for many ways to take advantage of people with bad credit. To lenders with money, people with bad credit are the best market to give loans to because they make a killing on the interest! Did you know if you have bad credit you can be paying 20 to 30% more on your products because of your interest rates compared to people with good credit? So, when making any purchase, especially when buying a computer, don't get suckered into payment plan or personal loan you can't afford. If someone makes an offer to lend you money, never take it right away, think about it over night instead. High pressure situations where the salesperson is trying to make you buy right away can make you make a terrible purchase decision.

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