You should feel most comfortable in your own home. Furniture and other furnishings are also crucial for this. If you no longer like the old furniture or if you need new furniture due to a move, you are facing a major financial challenge. Fortunately, furniture is easy to finance these days. We’ll tell you what options there are and what you should pay attention to.
How much is new furniture?
This question cannot be answered universally. After all, it all depends on whether you need a completely new facility or just want to replace an old cabinet. The choice of furniture is also decisive for the costs involved. For example, there are sofas in the furniture discounter for around 250 USD, while designer pieces of high quality can cost several thousand USD. Furniture for the kitchen is also usually relatively expensive. Only you can determine the total amount required for your new furniture. Compare the offers of different furniture stores and find the pieces of furniture that will give you lasting pleasure in your own four walls.
What financing options are there?
If you are looking for new furniture, you also have to ask yourself how it should be paid for. If your own budget is not sufficient for an immediate purchase, there are two more options:
- A purchase in installments directly from the furniture store.
- Borrowing to finance new furniture.
Both variants have their own advantages and disadvantages, which we will look at below.
Installment purchase in the furniture store
You can find them in almost every furniture store: Offers for payment in installments for the desired furniture. As a buyer, you do not pay the furniture directly from the seller, but actually only take out a loan. The furniture store acts as an intermediary between you and the loan provider. This is also the case with the often offered zero percent financing. In addition, when choosing a financing partner, you are bound to the retailer’s cooperation partner and its offers.
Every loan has costs, including zero percent financing. You actually do not pay any interest on the financing, but the costs are usually already included in the price. So you hardly have any opportunities to negotiate any discounts.
|Funding can be requested directly from the furniture store. The seller takes care of all the necessary formalities.||Discounts can rarely be negotiated with financing.|
|Zero percent financing can often be used.||Even with zero percent financing, the associated costs are already factored into the prices.|
|Additional processing fees are not infrequent for financing.|
|With zero percent financing, the statutory 14-day right of withdrawal for consumer loans does not apply.|
Borrowing for the new furniture
Once you have found your new furniture, you can also finance it with a loan. Although you have to apply for the loan yourself in advance of the purchase, this also makes you much more flexible in the choice of the loan provider. With the loan comparison from Capital Lender you will find the best offer for financing your new furniture. With the money raised, you can pay for the goods in cash directly in the furniture store and thus have a better chance of any discounts. At this point: negotiation is worthwhile!
|Flexibility in the selection of furniture dealers, since you can also buy in furniture stores that do not offer financing themselves.||The application for the loan and the submission of all documents must be done in advance.|
|Thanks to a comparison of different providers, you will find the best offer.||The payment of the loan amount can take a few days.|
|You may be able to get better discounts by buying cash in the furniture store.|
You should take this into account when financing new furniture
Taking out a loan for new furniture is a great way to set up a new home despite a small budget. In order to enjoy the furniture and the associated financing for a long time, you should consider three important things in advance:
- The monthly rate must fit into your budget.
Taking out an installment loan is very easy these days. However, you also have to be able to afford the current monthly installment in order to repay the money borrowed from the bank. In order to avoid financial difficulties, you should calculate in advance how much money is left of your income after deducting all running costs. The entire amount available for the repayment of the loan should never be spent. A certain financial buffer for unforeseen expenses should therefore always be taken into account.
- The amount of the loan must meet your requirements.
When you have found your new dream furniture, research where it is available at the cheapest price. The same applies to a new kitchen. You can also buy these with cheap online kitchen finance, after which you know how much money you need to buy. Any savings can be counted against it and you know how much the loan amount has to be. Only take up as much money as you really need. The temptation to take up a higher amount is certainly great, but it can also quickly lead to a debt trap.
- The term should be reasonable.
With a long term, you can reduce the monthly charge with the same loan amount. However, you should keep in mind that the term of a loan should only be as long as you use the object you have acquired with it. So if you are planning to purchase furniture that you know you will use for a maximum of four to five years, the term of the loan should also be a maximum of this period. Otherwise, at some point you will pay a monthly installment for furniture that is no longer in use. With the option of a special repayment, you can also shorten the loan term.
Conclusion on the furniture loan
Attractive and comfortable furniture is one of the basic requirements for well-being in your own four walls. Buying new furniture is often an expensive affair. With a loan you will find the perfect opportunity to fulfill your personal living dreams anyway. If you follow our instructions from this article, you will not only enjoy the furniture for a long time, but also its financing.