Furniture can get very expensive, which is why many people are tempted to buy it on finance. This guide will look at whether buying furniture on credit is a good idea. It will also look at some of the popular stores where you can buy furniture on credit in the UK. Many of these stores offer very attractive interest free buy now pay later plans.
Stores you Can buy Furniture from on Credit
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Advantages of Buying Furniture on Credit
– Get furniture faster than saving up
– Most retailers offer interest free finance deals
– Get furniture for low monthly or weekly payments
– Can improve your credit score as long as you keep up with payments
Disadvantages of Buying Furniture on Credit
There are very few disadvantages of buying furniture on credit, as long as you are sensible and don’t borrow more than you can afford to.
– Easy to get carried away
– Can damage credit score if you miss payments
DFS is probably the best known furniture retailer which offers credit to customers. They are particularly well known for their range of sofas. The designs are generally quite modern, but there are also some traditional models available. The advantage of buying from DFS is that you can sit on the furniture and actually try it out. You can compare different pieces of furniture easily and see how they will fit in your room. DFS finance is interest free and very flexible. It’s possible to pay a deposit to reduce the monthly payments.
Argos is a well known retailer which sells many different types of products. Many people forget that they also sell a range of high quality furniture. The furniture is good value for money and typically built as well as other retailers. Argos also offer a no quibble guarantee. This means if you are unhappy then you can return the furniture for a refund or replacement. The only problem buying from Argos is that you normally can’t try the furniture out.
Some stores have a limited selection of furniture for you to look at, but most is only available in the catalogue. When buying furniture from Argos you can apply for an Argos store card. This offers buy now pay later options where you can spread the cost interest free for up to a year. Be warned though that if the balance isn’t cleared before the end of the interest free period, then interest will be backdated on the original amount borrowed.
Ikea is one of the most popular furniture stores in the UK, but few people realise they also offer credit deals. They offer interest free credit on their kitchen furniture. Anything in store can be spread over up to 60 months using an Ikea personal loan. You will need to spend a minimum of £150 to qualify for the personal loan. The interest rates are low and competitive.