When it comes to purchasing new furniture, it's often a significant investment that people don't want to make all at once. This is where furniture installment plans come into play, allowing you to spread the cost over several months. But where can you buy furniture in installments? Let's explore a few options.
Firstly, it's vital to understand that not all furniture stores offer installment plans. However, a growing number of them do, recognizing the need to provide flexible payment options for their customers. So, let's delve into some popular retailers that offer furniture on installments.
Furniture Stores with Installment Plans
Big-box retailers and specialized furniture stores alike generally offer installment plans, often through third-party financing companies. These plans can sometimes be confused with layaway, which is a separate concept. Layaway involves setting aside merchandise for future purchase, typically without incurring interest, while installment plans usually involve immediate purchase and repayment over time with interest.
Now, let's look at specific stores and their installment plan options.
Wayfair
Wayfair, a popular online furniture retailer, partners with several lenders to offer payment plans through their platform. You can apply for financing when checking out, and choose a plan that suits your budget, often with no down payment required. Interest rates and terms vary, so be sure to read the fine print.
Payment plans through Wayfair can range from 3 to 60 months, depending on the lender and the total order amount. They also offer a "Pay Over Time" option with no interest if paid within 6 or 12 months.
Amazon
If you're looking for a vast selection of furniture and the convenience of Amazon's platform, you're in luck. Amazon offers payment plans through their partners, providing another option for furniture shoppers. You can apply for a plan when purchasing furniture and, if approved, you'll make equal monthly payments until your balance is paid off.
Eligibility for Amazon's payment plans depends on your creditworthiness and the total purchase amount. If approved, you'll typically have 6, 12, 24, or 48 months to pay off your balance, with interest applied to the outstanding amount.
Furniture stores with their own financing options
Some furniture stores, such as Rooms To Go and Raymour & Flanigan, offer their own financing plans. These plans often have different terms and conditions than those provided through third-party financing companies, so it's worth exploring each store's website or speaking with a sales representative to understand your options.
A common feature of in-house financing plans is the ability to earn points or reward towards future purchases as you make payments. Be sure to ask about any loyalty programs tied to their financing options.
In the market for new furniture but hesitant to fork over a large sum at once? Consider exploring the many retailers that offer furniture in installments. By doing so, you can spread out the cost of your new sofa, bed, or dining room set without compromising your budget. Now, let's start navigating those store websites and browsing for that perfect piece of furniture - happy shopping!
