Mattress purchases require a good amount of deliberation as good mattresses do not come cheap. When moving into a new house you may feel the need to make a purchase for a mattress however you need to think of your long term financial situation if you are going to do so. This is where mattress finance comes into play. Mattress financing refers to entering into an agreement with a third party that pays for the mattress or lends you the money to make the purchase of the mattress. When you approach a normal financial institution looking for someone to finance the purchase, they will lend a certain amount to make a purchase and set a repayment plan with interest based on your credit score or financial situation. Whereas if you approach a lease to your own finance provider, they will pay the whole amount for your purchase right away and devise a plan of repayment that would include taxes, fees , rentals etc and you will make such payments until you own the mattress completely. Its use
The process of mattress financing is quite common as many of the people looking to purchase mattresses either don’t have the full amount to pay or they do simply prefer to pay in installments to avoid a large sum getting deducted from their savings all at once. One has the opinion of making a purchase of a mattress even with a bad credit score with a lease-to-own financing which he/she may not get from a traditional financer. These methods of repayments help those in need of instant loans to make a mattress purchase. One need not take the load of a heavy payment taking place all at once. The lease finance provider helps the customer create a customized repayment plan based on their financial situation. The interest and taxes however have to remain the same but the time period for the loan may get extended and the installment amount may decrease in order to make this process easier on the customer.
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Allison Janney is a Sales & Marketing Manager at ChargeAfter. She would like to share content on Finance Industry like Point of Sale financing, Buy now Pay later, consumer financing & Ecommerce financing for valuable reader. |