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How to Buy a TV on Finance with Bad Credit

By Jonathan Shannahan
March 11, 2020

Are you looking to buy a new TV but have bad credit? Buying a new TV on finance is not hard, however it will take a few steps for you to get your new TV.  If you are unsure about what kind of TV you want to buy or you don't know the better brands to choose from, we can help.  RTBShopper.com offers the best known brands in the industry and can help get you a brand new TV on finance with no credit check.  

You can get a Samsung TV on finance or choose from other top brands like LG, Insignia, SONY, Sharp, Toshiba and more!  

Samsung TV on Finance

Before deciding on the TV you want to finance, let's evaluate the different financing options and television choices.  The problem with new televisions is the continuous innovations that lead to high prices that you might not be able to afford.  Financing a new TV or buying a TV with credit is often relied upon, but not always the best choice.  That will damage your credit score which can affect your financial health in many ways.  

How Your Credit Score Can Affect Your Ability to Shop

Before we dive into how your credit score might affect your life, let's review what a credit score is and how it will have an impact on your financial profile.  Although there are many different myths and opinions about credit, we will evaluate everything for you to make things simple.  You credit score is essentially a three-digital number that ranges as low as 300 and as high as 850.  The higher your number, the better health your credit score is in.  People with good credit scores are able to qualify for better loans and interest rates.

If you do not have a high credit score and your score falls below 600-650, you are considered to have poor or bad credit.  If you have poor or bad credit, you are at risk and might not qualify for the same types of loans that good credit can get you.  Although you may qualify for some loans, you will be hit with insane interest rates. 

The three big credit bureaus that report credit scores are Experian, TransUnion, and Equifax. While each bureau calculates credit score with their own algorithms and metrics, they all look at the same basic information: debt-to-income ratio, amount of revolving debt, repayment history, and more.  Usually, each credit bureau has a similar evaluation and credit score for you. 

Avoiding a Credit Check

The problem with having bad credit is that you cannot afford to get your credit hit with hard inquiries often. Most lenders run a credit check that is considered a hard inquiry on your credit report.  What this does is affect your score even more. If you have a bad credit score and want a lender to perform a hard inquiry to check if you qualify for a loan, you might be denied and further lower your credit score. Getting multiple hard inquiries can damage your credit score, dragging it down a few points each time.  If you keep having these bumps in the road, you will continue to dig yourself in a bad credit situation.  If you currently have a bad credit score, it's recommended to avoid damaging your score even further with hard inquiries.  

It is smart to avoid getting your credit hit and instead, you can find alternative options.  

TV on Finance Bad Credit

How to Finance a New TV with Bad Credit

If you have bad credit but need to buy a new TV, there are a few different financing options you can choose from.  It is difficult to get a reasonable financing rate when you are trying to buy a new TV with bad credit.  With all things considered, you still have options.  We will evaluate different options to find the best fit for you.

1. Buy the TV in Cash

The first way to purchase a new TV with bad credit involves buying in cash.

This is tricky, but it is the easiest route to a new TV without getting a credit check.  If you purchase your TV in cash, the store won’t do a credit check at all. You will be able to buy your TV with hard money and walk out of the store with no problem.  The problem with this scenerio is the cost of a new TV.  New 4K televisions are expensive and you might not have enough cash in your pocket to pay for it up front.  If you cannot buy the TV in full, you can still take advantage of your cold hard cash and put down a deposit on your TV.  If you can come up with about half of your total purchase price, you are more likely to get offered a financing plan.  The problem with that is, you will still have to get a credit check for the remaining half of the payments you will owe on the TV.  

2. Enroll in Layaway Plans

Another way to purchase a TV with bad credit involves layaway payment plans.  Layaway financing is heavily relied on by many Americans, however there are many problems people face when trying to do layaway financing.  Layaway financing is when you put a down payment towards your device and continue paying for your new purchase until it is entirely paid for.  If you need a new TV and use layaway financing, you will not be able to get your device for several weeks if not months.  

Problems with Buying a TV on Layaway

If you already have bad credit and enroll in layaway plans, you will no longer have money on hand to pay for your basic needs.  Layaway financing has traditionally been a good option for consumers, but it is recommended to think twice about enrolling.  Some people have had bad experiences with layaway financing.  In one case, a die hard football fan wanted to entoll into a layaway plan to finance a new Samgsung 4K HDTV in light that his team was undefeated and clearly destined for the championship.  Week after week, he continued to make payments towards his new TV and his team continued winning every game! As the championship game approached, so did the time for his new TV pick up.  As he drove to the store to pick up his new Samsung TV, he found found out that the layaway department was closed on that Sunday.  His team was playing in just a couple hours and he did not have the TV of his dreams to watch his team hoist the trophy.  To make matters worse, the customer service department tried to make things better with special coupons and offers on other products which dragged on for hours with apologies.  He ended up missing the championship football game altogether because of the retailers foolishness and poor service! 

There are so many other bad stories and experiences with layaway plans that people have started avoiding it altogether.  Instead, people opt for easier financing plans.  

Lease to Own TV on Finance Bad Credit

3. Lease a TV on Finance

Lease financing plans offered on RTBShopper.com are helpful for people with bad credit.  When you get TV financing from us, you are not required to put down a ton of cash or run a hard inquiry on your credit score.  Instead, you will be able to get pre-approved for up to $5,000 and shop for your favorite technology brands.  Depending on your needs, you can get a new TV and include a new surroud sound system for your entertainment as well. 

If you're still unsure about lease plans, here is a bit more information about how it works. 

The first step is to pick out the product you want including the type of product, the brand name and the model you want. If you want to buy a new Samsung TV - 55" LED, you will find a few similar models that you might want to compare.  We offer lease financing plans on LG televisions and Sony televisions as well.  There are so many different options with superior technology, you will be surprised at their capabilities and usecases.  

Sony TV on Finance

Once you decide on the type of product you want, add it to your cart so you can keep track of each product you want.

Before you can checkout, you will need to figure out how to pay for your TV.  If you do not want to buy your new TV in cash and you don't want to enter a layaway program, we have the right TV financing plan for you.   

The next step is to fill out our easy application with your name, email, phone number, a valid ID and you must be above 18 years old.  

You will not have to run a credit check.  

If you are approved, you will get a confirmation message and you will be able to pick up your TV the same day! That's right, we work with BestBuy retailers across the nation and offer same day in-store pick up at the nearest BestBuy stores in your local area.  

You will start making low monthly payments and start enjoying your new TV immediately!  The best part about lease payment plans is that you do not have to run a credit check! This protects your credit health while you also have the ability to use your new TV!

Rent to Buy TV on Finance Bad Credit

Lease Smart TV Financing Plans 

Although we all want the newest technology, it is not that easy.  Innovative products are expensive.  If you have bad credit, buying a new TV is not always the easiest thing to do.  You might have to deal with getting approved by creditors and that can furthur hurt your credit score. If you have bad credit, the best thing you can do is avoid running a credit check.  This will further drag down your score.  If you want to lease anew TV, visit RTBShopper.com and find the right plan for your lifestyle.  

Excited to get your new TV? Get pre-approved for up to $5,000 and get a new surround sound speaker system to amplify your entertainment exprience! 

LG TV on Finance Bad Credit