Laptop payment plans

Laptop Payment Plans in 2022

When shopping for a laptop for work, school, or even for leisure, it’s best not to compromise on quality. You need a reliable, durable device that will deliver the power and performance that you need. And we all know the best in electronics often comes at a high price.

Don’t let budget constraints stop you from getting the laptop you want. Fortunately, you don’t have to shell out the full amount immediately for the device of your dreams.

Many stores offer payment plans for laptops, and we’ve listed them here. Read on for all of your options:

Can I buy a Laptop in installments?

Yes, absolutely. You can buy a laptop in installments with monthly payment plans at a number of retail stores. We’ve researched the best stores to purchase your new laptop from. Read our list of retailers below.

8 Stores where you can a Laptop on a payment plan

1.    Amazon

Through Amazon, you can get attractive deals on laptops along with affordable financing options to purchase them!

Amazon offers users a 12-month special financing plan for laptops through their Amazon.com Store Card. The offer is valid on purchases worth $599 or more, and 0% interest if paid within 12 months.

Amazon also offers monthly payment plans on laptops completely interest free. We have put together a list of monthly payment laptops on Amazon. These purchases do not require a credit check because they are purchased based on your Amazon buying history. If you are a regular Amazon shopper, we definitely recommend this for your next laptop.

2.    Walmart

Installment financing plans are available from Walmart through Affirm. Installments are affordable, paid monthly, and can be paid back in 3 to 24 months.

Affirm does not charge a late fee, annual fee, prepayment fee, account opening, or closing fee. Any extra fee applied as interest is provided with your contract upfront. Some users may also have to make a down payment.

How much interest you pay and your down payment amount is determined based on your eligibility and purchase amount. Affirm offers an APR between 10% to 30% for all customers.

Want to explore the options in more detail? Read all about them here!

3.    Best Buy

Best Buy offers financing plans on purchases of $299 and above. The plans are available through their My Best Buy Credit and My Best Buy Visa Cards.

The installments can be spread between 12 to 24 months, depending on your total purchase amount. If you can complete the payment before your promotional financing term ends, you are not levied any interest.

If you are confident about making timely payments, check out their official page for more details.

Best Buy also offers lease-to-own plans, one of which gives you a 90-day purchase option that can get you a laptop for a lower cost of ownership.

4.    Apple

If you’re in the market to purchase a Macbook, then Apple has a financing plan for you.

The Apple Monthly Card Installments (ACMI) plan is an exclusive payment plan only accessible for purchasing Apple products. The installments are interest-free and can be spread over 6 to 24 months.

Apple Cash cardholders may also get 3% daily cashback upfront.

You also have the option to trade in your older devices for credit towards your new purchase. Visit their website to check out all the important details.

5.    Dell

Do you want to buy a Dell laptop?

Dell gives customers the option to purchase laptops and pay later in 6- or 12-month installments. There is no interest levied on these installments if payment is completed on time. However, if you fail to pay back within the set period, full interest is charged to your account from the transaction posting date.

Another pay later option with Dell is their Preferred Account that gives customers a revolving line of credit.

You can check out the complete range of devices available under Dell’s financing plans here.

6.    Lenovo

Are you planning to buy a Lenovo laptop worth $499 or higher? With Lenovo’s Financing Credit Card options, you can get the deal you deserve!

Lenovo partners with multiple service providers to offer customers the option to finance or lease-to-own a laptop. Their installment plans range from 6 to 12 months, and their partners include:

  • Genesis Credit
  • Synchrony
  • Katapult
  • Behalf

Learn how you can qualify for a plan here!

7.    Microsoft

Microsoft offers two financing plan options to allow customers to buy a laptop in installments.

The first partner is Citizens Pay, with whom Microsoft offers users a revolving line of credit. The installments are interest-free, down payment free, and can be spread from 12 to 18 months. But the minimum purchase amount is $900.

The other financing plan is offered in partnership with Klarna, and allows customers to get financing for products worth less than $900. Klarna offers payment plans in 4 installments free of interest over six weeks.

Check both offers from Microsoft in detail here.

8.    Newegg

Another retail provider on the list with financing options for laptops is Newegg.

Their financing plan is offered to Newegg Store Credit Card holders. The repayment period can range from 6 to 36 months based on the offer.

They charge interest if you fail to complete full payment within the set period. This can get expensive as their minimum interest rate is 2%, and any new account holders are charged an APR of 29.99%.

Visit their website if you’d like to explore their options.

Advantages and Disadvantages of Using Payment Plans

Advantages

  • No need to spend a big chunk of money at once
  • Unlike traditional loans, payment plan providers approve transactions quickly
  • Financial freedom to make other purchases
  • Some stores allow multiple installment options
  • Many stores and BNPL providers do not charge late fees, interest fees, or service fees
  • Staying on the repayment schedule can boost your credit score
  • Some stores may add device upgrades in their financing plans

Disadvantages

  • Hard credit inquiries may hurt your credit score temporarily
  • Missing payments can lead to a high penalty in the form of late fees
  • Missed payments or defaulting accounts might get reported to credit bureaus and bring down your credit score
  • Store credit cards may use up your credit limit and ramp up your credit utilization ratio

Electronic gadgets and devices make life simpler. They are very expensive but mandatory purchases that get a lot of use each day.

Fortunately, they are also common products offered by pay later apps.

Here are some pay later apps that you can use to buy a laptop:

Conclusion

You definitely have the option to pay later for your laptop purchase. But how should you know you’re getting the best deal?

By comparing the offers from each store!

Remember that buying from an official laptop store may get you a better service, but not always a better deal. Don’t be afraid to buy from official retailers instead if their payment plans suit your financial situation better.

It’s all about knowledge—go through our list, and soon you’ll be able to buy your dream laptop using the perfect pay-later option for your wallet!

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