Payment Options for Buying New Furniture

Shopping for something new is all fun and games until it’s time to look at the price tag. Once you realize how much money something costs, especially something as important as new furniture, the fun suddenly stops. Thankfully, there are payment options for buying new furniture that you can consider based on your financial situation and budget.

Cash or Checks

Most financial experts will stress that paying cash or using checks if you don’t want to carry cash is the best way to pay for new furniture. You save up, pay for everything at once, and then take your furniture home with nothing hanging over your head.

The problem with the cash-first mentality is that it’s not practical for most people. Saving hundreds or thousands of dollars to make one large purchase often isn’t feasible, especially for something as necessary as furniture.

If you want to balance this idea with a practical approach, consider saving cash or bringing checks to make a down payment. Providing a big down payment in cash can save you money while financing and help you feel like you have less hanging over your head in terms of future payments.

Personal Credit Card or Loan

When you don’t have the time or opportunity to save for a big purchase or down payment, you may consider using a personal credit card or taking out a personal loan. This way, you’re making payments to a credit card company or a bank instead of to a furniture store or third-party lender. Some people prefer this if they already have a credit card open or have paid-off personal loans successfully.

However, adding furniture purchases to a credit card you’re already trying to pay off or taking an additional loan when you already have outstanding ones isn’t a good idea. This creates more financial stress on your current credit situation. If you already have bad credit or are trying to build credit, this payment option will hold you back from those goals.

In-Store Financing

In-store financing offers the ease of credit cards or a personal loan while working outside of those large lenders. You can make a large cash down payment or choose a financing option with no or low down payments. There are also interest-free financing options. Regardless of which in-store financing option you choose, you can make regular payments that go straight to your furniture while already using the furniture you love.

However, make sure to read the fine print of in-store financing deals to ensure that you choose an option that works for your financial situation. This is often the best payment option for buying new furniture, but everyone budgets and spends differently, so you should choose the best option for you.

If you’re ready to bring home new furniture through a good payment option that you can afford, Grand Furniture is ready to help you find that furniture. You can buy furniture on credit through us and build your credit through the repayment process. We’re excited to help your home and finances succeed!