How to finance plasma TVs with bad credit

Written by ellie norton | 13/05/2017
How to finance plasma TVs with bad credit
Plasma TV (Ryan McVay/Photodisc/Getty Images)

Plasma TVs are popular because they enhance your viewing pleasure. Depending on the size of the TV and the audio set-up, many people have an experience similar to that of a cinema because the screen is clear, crisp and bright. If you are interested in purchasing a plasma TV but don't want to pay for it upfront, there are various ways to finance the purchase.

Check your credit report and score to see exactly where you stand. It may not be as bad as you think, and you may be able to qualify for a low-interest credit card or store card from a retailer such as Best Buy or Target. If your credit is bad and you are fairly certain you will not be approved for a credit card or store card, do not give up.

Look in the yellow pages for local stores that sell electronics. Call and ask if they offer in-house financing and if so, what the requirements are. Be prepared to disclose your weekly or monthly income. This may sway them into working with you if your income is high enough. Contact rent-to-own stores, if there are no local family-run electronics stores willing to work with you. These are stores such as Rent-a-Center and Aaron's, and they preapprove customers for financing in their stores. Be prepared to make weekly or monthly payments for the TV. Expect the total cost to be more through a rent-to-own store than if you bought the TV outright.

Put down a deposit when you purchase the plasma TV. The exact amount will depend on the financing at the store. Budget your income. If payments are not made on time, the plasma TV could be repossessed.

Ask the store financing the plasma TV if it will be reporting your payments to the credit bureaus, as this will be a good way to start rebuilding your credit.

Things you need

  • Phone book
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