PERSONAL FINANCE BLOG

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engagement ring financing
21 May 2019

Ready to Pop the Question? Engagement Ring Financing at It’s Finest

When you’re ready to pop the question, you’ll let very little stand in the way of love. A detail like how you’re going to afford the ring your future wife deserves is one that deserves some careful consideration.

Engagement ring financing doesn’t have to be difficult. There are a handful of ways to get the most bling for your buck. Check out a few of your options below.

In-House Financing

Some jewelry stores offer options like buy now pay later programs. In-house financing can be convenient for a lot of consumers. It allows shoppers to get the engagement ring financing they need in order to get the ring their woman deserves.

In-house financing is convenient because it allows you to buy the ring you want and split the payments up over several months instead of having to pay all at once. While it used to be customary to spend three months salary on a ring, that number is fluctuating a lot more these days. That said, it’s necessary for most consumers to spend that over a few months versus all at once.

Store Credit Cards

Another option that may be available to you is store credit cards. A lot of jewelry stores offer credit cards (different than in-house financing because these are revolving accounts) for their shoppers to make large purchases with. This is ideal if you are ring shopping.

A drawback to a store card is that credit checks are completed for your credit card application. If you don’t have good enough credit, you won’t qualify for a credit card.

Personal Loans

If a store card isn’t the best option for you due to high interest rates or any other reason, you may look into a personal loan from your financial institution or other sources. Personal loans are given to consumers with great credit to spend however the recipient wishes.

Like a credit card, you have to have good credit in order to get a personal bank loan. Personal loans are huge risks for financial institutions, therefore, qualifying members will need to have great credit if they’re applying for a personal loan from the bank.

Not all personal loans come from banks, and you don’t have the have perfect credit to get them. There are personal loans available for people with bad credit.

Bad Credit Loans for Engagement Ring Financing

Having poor credit, bad credit, or no credit shouldn’t disqualify you from buying your woman the ring she’s always dreamed of. There are financing options for people with bad credit.

The bank or jewelry store aren’t the only places to consider when ring shopping. Outside financing is available for all types of consumers. Plenty of resources exist to give people a second chance with credit with options like online loans, payday loans, cash loans, and much more.

Happily Ever After

First comes love, then comes marriage — and wanting the perfect ring for that next big step is only natural. An engagement ring is a symbol of the promise you’re making to your future wife.

Getting a bad credit personal loan can help move you forward to giving your future wife the perfect ring. Find out more about online installment loans for engagement ring financing, and get ready for your happily ever after. Here are some other articles you might find helpful:

What is no credit check financing?
More than personal – the top 9 reasons for personal loan financing
Your guide to the best personal loans
Real talk – the pros and cons of personal loans