Let’s face it: furnishing a house can be expensive. Even if you try to be cheap, you could still be spending thousands of dollars on furnishing your home.
Some people can afford to drop thousands of dollars to decorate a home. However, most people either do not have that kind of money or have to empty their entire bank account to cover the cost of furnishing their home.
If you’re in the “no money” camp, you may be wondering how to buy furniture with no budget. You could try finding furniture on the side of the road or at garage sales, but you can not always guarantee the quality or cleanliness of those items. And while sleeping on the floor and having nowhere for guests to sit is feasible, there is another option.
The easy answer to the furniture question is a personal loan. But what loans are available, and what are the qualifications?
Below we answer those questions so you can start turning your house or apartment into a proper home.
The first loan option is a same-day loan. These can be a perfect answer for how to buy furniture quickly and cheaply.
Do you need a small sofa for a friend to sleep on, or a dining room table to impress your parents? A same-day loan can help you get those and more.
Companies can even process your payday loan online and put the money in your bank account within 24 hours (hence the name “same day” loan). These loans typically range from $100 and $1000, making them easy to pay off in a short amount of time.
Once you have your money, you can go straight to the furniture store. Unlike car or home loans, you do not have to worry about the money being tied to one specific thing.
As long as it meets your budget, you can grab the piece of furniture that works best for you.
These bad credit loans also can be received with little or no credit. Because these loans are rarely very big, most companies don’t require strong credit.
These can also be perfect for those people who aren’t able to borrow money from friends and family or who can’t afford to put more money on credit cards.
What to Watch for with Same-Day Loans
However, same day payday loans no credit check aren’t that easy, as there are some requirements for receiving them. Loan companies require you to be at least 18 years old, have an active bank account, and have a steady, verifiable source of income.
They can also cause issues for people who aren’t careful.
If you do not take the time to understand the terms of your furniture loan, you can quickly find yourself behind on payments. With smart planning, that will not happen.
By looking over the terms of the online loan, you can figure out how you’ll pay for it.
Many companies require a basic income that is a certain percentage greater than your loan. Since you know what your income is and what your expenses are, you can plan out how long it will take you to pay off your furniture loan.
If you can show good control over your expenses by not buying anything you don’t absolutely need, then you can put a decent amount of money towards paying off your same day loan and avoiding paying more interest than necessary.
Long-Term Installment Loan
For larger furniture purchases that require more money, you should look at long-term installment loans. These loans allow you to borrow more – up to $5000, and sometimes more – than a same-day loan at a lower interest rate.
Many long-term loans can be received from institutions like banks. However, they will require a higher level of credit.
For those with poor credit, long-term loans are still an option. There are companies that offer these loans to people with little to no credit.
The one caveat is that your income will need to be high enough to assure the lender that you can pay off the loan.
These loans offer more benefits besides just giving you a well-furnished home.
By paying off your furniture loan, you can actually improve your credit.
Now, this does require you to make your payments on time and pay off your loan as quickly as possible. If you miss payments, your credit will not only get worse, but you can also find yourself in debt as interest builds up.
However, if you stay on top of payments, you’ll be able to show future lenders that they can trust you to pay off your loans.
How to Buy Furniture With No Money
The answer is simple: loans can be how to buy furniture. They are quick and easy ways to get the money you need, even if you have poor or no credit.
However, finding the right lender can be difficult. You want to get your furniture loan from a trustworthy lender who won’t charge interest rates that are too high.
You’ll also want a lender who will refinance your loan fairly if the worst case scenario happens and you need more time to pay your loan.
We can help you get a cash loan from a reputable lender online quickly and easily. We also have more resources available so you can learn more about lending and feel confident about getting a loan for furniture, or anything else.