Buying a new television can be exciting, but it can also be costly. On top of the cost of the TV itself, you’ll have to pay for delivery and installation, which can add hundreds of dollars onto your bill and push you into debt if you don’t budget carefully before making your purchase. Fortunately, there are ways to pay for a new television without putting yourself in debt or giving up your entire savings account. From managing your personal spending to opting to apply for online loans with instant approval and no paperwork, here are some proven tips that will help you buy a new TV without going broke.
1) Set Financing Goals
Start by researching what options you have for financing your new television. Most major retailers offer to set up payment plans, including layaway plans and financing options. This can allow you to spread out payments over time, helping you stay on track with your budget and pay off your TV in small increments rather than one large sum. This is especially important if you’re working with a limited budget or don’t want to put all of your savings toward paying for something big like a television. You can also set up financing through private companies like PayPal or Square, which will allow you to make monthly payments instead of paying everything upfront.
2) Make Sure You Have Good Credit Score
Before making any big purchases, be sure to check your credit score. If you have bad credit or even just mediocre credit, it can make it more difficult to get good financing terms or have payment plans set up by retailers. This means that you’ll end up paying higher interest rates on your purchase and may have trouble finding financing options at all. Checking your credit is important before applying for any sort of loan or financial aid, and it will also help you understand how much money you need to pay for your TV in advance so that you can avoid putting yourself into debt with poor planning.
3) Take Advantage of Retailers’ Interest Rebates
Most retailers will offer interest rebates to customers who choose to finance overpaying in full. These rebates are usually worth 5-10% of your total purchase price and can significantly lower your overall cost for big purchases like televisions. It’s important to note that not all retailers offer interest rebates, but most major chains do, including Sears, Kmart, Walmart, and Target. Just make sure you take advantage of these options if they’re available; they can really help reduce your expenses as you pay off your TV over time.
4) Establish Payment Plan
Most major retailers also offer monthly payment plans. They will often spread out your payments over 12 or 24 months and allow you to pay off your TV in small increments. These programs can be a great way to get financing on big purchases that you can’t pay for upfront, and they let you make installments of $100 or less so that it won’t take up much of your time or money each month. Just be sure to look at all of your options before committing to a plan so that you can ensure you’re paying as little as possible for your TV; if financing is available, try applying for it first before setting up monthly payments with retailers.
5) Never Get Carried Away with Fancy Features & Be Within Your Budget
It’s easy to get carried away when you see all of your options and your salesperson starts talking about fancy features and extra picture quality. You should, however, always make sure that you’re staying within your budget and that you know exactly how much money you need to pay for your TV before making any purchases. It’s better to purchase something simpler than go into debt with extra features that won’t improve how you watch TV at home. Most major brands offer similar picture quality between their high-end and low-end models, so there really isn’t much reason to pay hundreds of dollars more unless they come with special features that actually matter to you personally.
There you have it – five steps to help you get started on your new television. This is by no means an exhaustive list, but it does include most of the major tips for saving money when making big purchases. From financing options to interest rebates and smart shopping strategies, it’s possible to buy high-quality televisions for a fraction of their original cost if you know what to look for and make smart decisions throughout your shopping process.
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