Getting the mattress of your dreams doesn't have to be out of reach if you have bad credit. With various financing options available, you can get the mattress of your choice without straining your wallet. Learn how to finance a mattress with bad credit here.
Research furniture store financing options
Many furniture stores offer financing options specifically for customers with low credit scores. Look into store-specific financing programs, such as rent to own plans or no-credit check financing options. These can ease the burden of a large purchase and minimize the impact on your wallet in the short term without stressing your credit rating.
Consider alternative payment solutions
If you can’t secure a financing option through your preferred store, don’t hesitate to look into other payment solutions. Apps like Afterpay and Klarna offer “buy now, pay later” options for purchases over certain amounts. Also consider putting the mattress purchase on a credit card with a 0% introductory APR, or finding an alternative lender that is willing to work with people who have lower FICO scores.
Pursue lease-to-own programs for mattresses
Lease-to-own programs are another option for people with bad credit who need a mattress. Through lease-to-own programs, customers don’t pay interest but instead make payments for a specific period until the item is paid in full. These programs allow people to upsize or replace their current mattress sooner than if they waited to save up in cash. Plus, some of these companies report rental activity on your credit file, so you may receive some benefit from making timely payments and successfully completing the term. According to an article by Korner Stone Credit: "Rent to own or lease to own finance options are purchase-item based, unlike credit-based or collateral-based loans. Lease options are typically available on durable, life-essential goods such as appliances, mattresses, furniture, and tires. With this type of financing (or leasing), items are rented or leased to a customer where at the end of the term, ownership is transferred in full as a lease-purchase to the renter."
Look into store financing
Mattress stores often offer their own financing for customers with bad credit. In order to take advantage of store financing, you’ll need to apply in person and accept the interest rates and terms offered by the store. This is a good option if you want a mattress sooner rather than later and don’t want to wait to save up enough money. Be sure to do your research before committing to a store financing plan as some may have exorbitant interest rates or hidden fees.
Choose a secured credit card
Another great option for getting mattress financing with bad credit is to get a secured credit card. Secured credit cards are backed by money that you deposit into an account specifically for the purpose of using it as credit backing. The idea behind this type of card is that you can earn better rates and terms than you would with standard unsecured cards, despite having bad credit. Be sure to read up on what secured cards are available so you can find the best one for your needs.
Discover Hassle-Free Mattress Financing with Doms Mattress Store
In conclusion, when it comes to finding mattress financing options, it's crucial to navigate the market with care, especially if you have bad credit. As discussed in this article, various alternatives are available, but one standout choice for those seeking both convenience and reliability is Doms Mattress Store. With a commitment to customer satisfaction, Doms Mattress Store stands out as a premier choice for mattress financing. They collaborate with some of the top financing companies, ensuring that customers have access to competitive rates and flexible terms. Moreover, their online platform simplifies the entire process, allowing you to secure financing from the comfort of your own home. So, if you're in the market for a new mattress and need financing, consider Doms Mattress Store as your go-to option to make your purchase hassle-free and budget-friendly.