Computer financing vs leasing computers
The difference between financing a computer and leasing a computer, in short, is that one owns the computer and the other one that you don’t.
computer finance
This option is the one where you own the computer. Companies can help customize a financing plan where you can pay an appropriate amount. At a predetermined point, the computer is shipped to you directly from the factory. You own the computer upon receipt, not the company, and in some cases no one has owned or touched the computer before you.
Computer rental
Computer rental is where the computer is shipped after you apply for credit. You must have good credit and be able to prove that you have the ability to make monthly payments until the computer is paid in full. During the time you make the payment, you no Own the computer. The rental company owns the computer.
Computer credit benefits
The benefits of computer financing is that not only do you own the computer but the computer you receive is one of the best on the market at the time the computer ships. Meaning, if the company goes to order the computer and said hard drive is old, they will get the newer (most likely the largest) hard drive with no extra fees or hidden costs.
Companies usually offer several different flexible payment plans, but if your income is disrupted, you can usually contact the company and they can make arrangements to help you through the bad times. Most companies are there to make this a win-win situation. After all, if you weren’t happy, you wouldn’t recommend them.
credit repair
This is something important to many people. Some computer credit companies have created a credit repair program that works in conjunction with their financing plans. They all work a little differently. There are two scenarios:
(1) The Company will report payments to you (on time or not) to credit bureaus or
(2) Upon successful completion of the agreement, you will receive a letter stating that you have fulfilled the payment agreement for X months which you submit to all credit bureaus.
Either way, as long as you make your payments on time, your score should improve.
be cerfull
Computer finance companies strive to make it affordable for you so that you have more than one option. Remember to ask questions like “Is this a used computer?” “Does it come with software?” “What happens if I can’t pay?”
One size does not fit all. If a company doesn’t offer many computer financing options, is it really flexible enough to help you? Choose a company that may work “outside the box” and they will create a financing plan that works for you.
