any online retailers offering "instant" credit?

jsabaresejsabarese
edited December 2003 in Trading Post
hello. i am in need of a new computer system. i would like to build it myself by selecting the parts that i want.

does anyone here know of a place to shop for computers online that will offer me some type of instant credit?

thanks!

Comments

  • primesuspectprimesuspect Beepin n' Boopin Detroit, MI Icrontian
    edited December 2003
    I think the only places you can get online "instant credit" would be PC Manufacturers. I don't know of any parts shops that offer instant credit.

    Perhaps you could go to your local best buy or office depot to get instant credit and then get _some_ of the parts from a retailer. But I really think you're going to be out of luck with good online parts shops such as NewEgg or SVC. They take credit cards, and that's it.
  • ketoketo Occupied. Or is it preoccupied? Icrontian
    edited December 2003
    Typically, any place that offers instant credit is going to be going thru a finance company (Avco, Household, Beneficial) and charge insane interest rates (20-32%). Or, they use a leasing company (like Dell does), which also charge insane rates and is a terrible deal unless your a company that can write off 100% of the lease payments for tax purposes.

    You're better off finding a MasterCard or Visa that offers a reasonable rate (12-15%)and using that if you're going to finance a computer purchase. They will usually do instant or 24hr online approvals, tho you'll wait a week or so to get the card itself. If you'll qualify for a finance co., you'll almost certainly also qualify for a credit card. Conversely, if you can't get a credit card, no finance co. is likely to touch you either.

    Best interest rates overall will be if you can qualify for a personal line of credit at a local bank or credit union, tho they may ask for additional security (typically car or 2nd mortgage) - sometimes unsecured, I have one unsecured, you won't know until you ask/apply. Interest rate will be half that of a credit card, greatly reducing your financing costs over time and usually offering more flexible repayment options.

    I've worked in the personal finance industry for 20 years, you've hit my area of expertise almost right on the button :)
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