If you don’t have credit, but need to purchase a computer, then there are a few options that you can look into. However, remember that with each option it’s important to 1) know what you are getting into, 2) understand the total cost of the deal, and 3) make sure that you feel comfortable with the terms of the agreement. Many times people see signs that proclaim things like: buy a computer no credit and they get so excited that they forget about these three simple things, and end up getting a pretty rotten deal.
Your first option if you are looking to buy a computer with no credit is the old-fashioned way–save up and use cash. While this may not be the most popular choices, it is probably the very best choice if it is at all possible. The reason? Well, all the other choices will have much higher costs, making it so you end up paying much more for the computer than had you simply just saved up a couple hundred dollars and purchased the computer with cash in the first place.
The second option is to find someone who will lend you money without you having good credit. There are specialized lenders who specialize in bad credit loans for small amounts of money. However, remember one very important thing–nothing in life is free, and that is especially and always true when it comes to finances and loans. If the lender is willing to loan you money with bad credit, then they will charge you more for that loan. Make sure you know the rates on this financing option and that you know all the terms (even the fine print ones) so you can avoid any problems in the future.
The third option is to go the rent to own route. This is a process where the store leases you the computer, you make monthly payments, and then have the option to own the computer after a certain amount of time/amount due at the end of the loan.
Again, remember that cash is king – is is your best option. But, if you do need further options then they are there, just be careful.