SLR (single lens reflex) cameras are high-end cameras that professional photographers use. People who do not consider themselves "professional" but are serious about photography also purchase these cameras. The images they produce are of higher quality than what a regular point-and-shoot camera produces. Because they produce a higher-quality image, SLR cameras often cost at least twice as much as most point-and-shoot cameras, with some SLR cameras selling for thousands of dollars. If you would like to purchase an SLR camera but do not have the funds readily available, financing may be an option.
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Things you need
- Down payment
- Good credit (to secure financing)
- Computer with Internet connection (if purchasing online)
Find a retailer or online site that allows finance purchases. If you wish to buy directly from a store, give your local camera retailer(s) a call to see if financing is available, and what the terms are. Or visit an online camera site, such as the Camera Warehouse, to view finance terms and begin your purchase. You can search for additional sites and use the sites listed in the References section.
Ask the salesperson for financing information if you're purchasing in a store and fill out the application. If purchasing online, use the site to apply for financing. Be sure to review the terms carefully; there will likely be interest charges and other penalties for late or missed payments. Not all finance applications will be accepted in most cases. If your application is denied, you likely do not have a sufficient credit score to qualify.
Complete the purchase with help from the store salesperson if your application is accepted or by following the checkout steps on the website. You will need to make a down payment, which varies depending on your credit score and the store or site you are purchasing from. In general, expect to pay about 10 per cent as your down payment.
Tips and warnings
- If you can afford it, make more than you minimum payments each month. The faster you pay off the camera, the less you will pay in interest charges.
- If you are in the military, securing financing may be easier for you.
- Avoid missing payments or making payments late; otherwise, you might end up with additional charges and poor credit reports on your financed camera account.
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