Computer Financing Loans With Bad Credit 2024

Shatakshi Sinha

A computer is essential in today’s busy online world. However, they can be expensive. Good laptops cost over $750, and top-notch desktop computers can exceed $1000. 

Gaming PCs can even double that price. Your credit score reflects your financial history, with a score below 500 considered bad or poor. Lenders may hesitate to offer loans to individuals with bad credit or charge high-interest rates. 

To simplify matters, we’ve compiled a list of the top computer financing companies for those with bad credit.

Best Lenders For Computer Financing With Bad Credit:

Before we review these brands, we took an extra step to share their names and unique traits so you can quickly decide on one. An average person needs help to afford this kind of money, so they rely on getting a loan, which gets complicated if you have bad credit mobile home loans. Once you have decided, you can quickly jump to the review section and learn more about your desired company.

Overall Best Bad Credit Personal Loans With Guaranteed Approval $5000, Editor’s Pick

4.6

Simple Requirements

600

Credit Score

$1000-$35,000

Loan Amount

Top Rated Site To Get Bad Credit Loans

4.6

Simple Requirements

600

Credit Score

$1000-$35,000

Loan Amount

Most Popular Online Platform To Get Personal Loans

4.6

Simple Requirements

600

Credit Score

$1000-$35,000

Loan Amount

Best Site To Get Instant Cash Advance

4.6

Simple Requirements

600

Credit Score

$1000-$35,000

Loan Amount

Overall Best Computer Financing With Bad Credit, Editor's Pick

MoneyMutual has been around for over a decade, offering customers quick short-term loans at reasonable terms. This company has a vast lender network and is always ready to help people looking for small loans.

Compared to traditional banks, this company and its lender can quickly provide you with a loan even if you have the worst credit score. This platform can give a quick $400 loan in less than 24 hours if you want a quick loan. In most cases, you’ll receive the funds within the same day.

While you can get a loan of up to $5000 from MoneyMutual, how you’ll repay decides how much you earn. If you have a good income above $1500, the company can offer you a loan of $5000. However, if you don’t have solid proof for repayment, the lender might not provide you with the desired loan.

You can easily filter out the lenders based on your requirement; this gives you a better chance of finding the most suitable lender. However, you must check the lender thoroughly before deciding, as the company won’t be responsible once you choose a lender. Each lender’s details and ratings are available, read them and carefully read the terms and conditions of each lender.

MoneyMutual has served over two million customers in the past decade, and its popularity has increased. People need small loans more thanks to inflation, which is why these online platforms are getting more famous than usual. Their credit application is easy to fill, the entire process is done online, and you get the money quickly.

On the other hand, the online form is free to fill out, and you can fill it out more than once to check the lender rates. Filling out the state won’t take more than a few minutes.

Highlights

Pros

  • Services provided are free of cost
  • Quick bad credit loan
  • Small and mid-size loans are available
  • A highly reputed and experienced company

Cons

  • Not available in New York or Connecticut

Prime Lender For Computer Financing

Bad Credit Loans is the oldest financing company on our list, operating since 1999. This company aims to provide a mediocre loan of up to $10000 to those needing better credit scores.

The founder of this company realized that a typical American always requires an emergency loan of $500-$1000; thus, he created a platform to help them instantly. The best part is that you can get an emergency loan in less than six hours if the amount is up to $1500.

Besides getting a loan for your computer, this company provides other loans like debt consolidation, vacation, rent, or auto repair. For best results and advice, it is better to let your lender know the reason for your loan.

Sometimes, these lenders have contacts to help their customers get premium products at lower rates. Some lenders might know a computer store from where you can grab a PC at cheaper prices.

Bad Credit Loans charge 5.99% to 35.99% APR, which varies based on the lender. You can talk to your lender about lowering the APR if you believe it is hard to repay. Since these lenders are interested in helping clients, you might find favorable terms.

But remember, small bad credit loans come with higher interest rates, so if you want to reduce APR, take a bigger loan of above $1500. That way, you can get a top-notch PC and don’t have to worry about higher rates.

The entire loan process is available on the website. You can follow the steps to fill out the form and send your request for processing. It will only take a minute to see the lender’s list right before you.

Highlights

Pros

  • The website contains helpful information
  • Good range of payments
  • Around-the-clock customer assistance
  • Offering e-consent

Cons

  • Small loan amount compared to other lenders

Most Recommended Lender For Computer Financing With Bad Credit

If you have a specific date for your loan, Fundsjoy can hold your funds and release them when needed. Notifying them about the loan at least three days before is essential. Fundsjoy started its operations in 2011 and gained recognition as a leading provider of short-term loans without credit checks in 2016. By the end of 2020, it had established itself as one of the top loan providers in the USA.

One of the standout features of Fundsjoy is its dedication to helping you find a suitable lender. After your application is processed, you’ll receive an updated list of lenders until you find one that suits your needs. They even provide precise filters to help you find the best lenders. This saves you time from filling out multiple forms to check different lender options. The top-rated lenders appear first, and if they don’t meet your requirements, you can refresh the page to see the next set.

Another advantage of Fundsjoy is the transparency offered by their lenders. When you view a lender’s page, you’ll see the maximum and minimum loan amounts they offer and the associated charges. If any lender tries to charge more than what was stated or adds hidden fees, you can report it to Fundsjoy, and appropriate action will be taken. Customer reviews of Fundsjoy indicate that there have been no complaints of lenders scamming borrowers.

While Fundsjoy strives to ensure loan availability, there may be times when a suitable loan cannot be found. This is more likely during holidays like Christmas or Thanksgiving. It is advisable to schedule your loan in advance or apply several weeks before such holidays. You can also discuss the payment schedule with the lender and inform your bank to prevent the funds from being held.

Highlights

Pros

  • Has competitive interest rates
  • The loan application process is simple and convenient
  • It eliminates the extra hassle of getting a conventional loan
  • Multipurpose loan available

Cons

  • It is not easy to grab a bigger loan

Highly Rated Personal Loans For Bad Credit Computer Financing

Personal Loans started its business almost a decade ago, intending to provide easy personal loans to all its customers. This platform has the best lenders if you want a substantial personal loan within 36 hours. These lenders won’t ask why you want such a huge amount, won’t put complicated terms for the loan, and will provide it.

This platform works like all other platforms where you connect with potential lenders, and they provide you with a loan. However, the APR system works differently here since the company is more interested in offering easy loans to ordinary people.

Instead of keeping the APR fixed on each installment, this company reduces the APR with each on-time installment. Thus, paying on time not only helps you get a boost in your credit score but also helps you pay lower interest. Though you need to check with the lender first, some lenders have complications following this rule, so they might make up for good by adding extra charges.

While getting a loan from this platform is easy, you should inform your bank if you take more than $10000. Otherwise, they might hold up the money until you visit your bank. This company has a team of experienced advisors ready to offer advice on how you can manage and repay your loan. There are no charges for taking the direction, and you can contact their customer support anytime. However, you need to create an account on their website and engage with a lender at least once to get their advisors.

On the other hand, lenders are also engaged in helping customers to return their loans quickly. They offer reasonable terms and extend the repayment period, so you don’t worry about your credit score.

Highlights

Pros

  • Obligation-free rates offered
  • Straightforward and flexible repayment terms
  • No early payoff fees
  • Make it easy to consolidate debt

Cons

  • Some lenders require bi-monthly repayments

Most Popular Company For Computer Financing

CashUSA is the best computer financing platform for all USA residents. They made policies to facilitate average Americans to get a quick loan without facing complications. Their APR is lower than other brands offering bad credit loans, but they have high charges for late payments.

You can get a loan without mentioning its reason, and you can get a loan for any purpose, whether to finance a PC or to build a gaming room. However, this brand has the longest processing time as it has the highest number of active users daily.

This company charges average APR ranging from 5.99% to 35.99%. This seems like a lot, but this amount is expected since we discuss bad credit loans here. Some other companies charge up to 400% while offering a short-term bad credit loan.

Moreover, CashUSA APR is not fixed; you can bargain with the lender to reduce it, and if you pay your first installment on time, they might listen to you.

Unlike other companies, CashUSA has a simple yet bit lengthy online form. They want to know you better, so they ask for more information. Since they offer services for free, they might share your data with marketing agencies for product promotion services.

The minimum loan you can take is $100, and the maximum you can get is $10000. However, if you want a more significant amount, talk to a lender, and they might gather more money but under different terms and conditions.

What is different about this platform is that most lenders want to know about your financial position. They wanted to ensure you’ll repay the loan, so they asked for your income and provided a loan accordingly. However, only a handful of lenders follow this practice.

Highlights

Pros

  • Loan repayments are easy and flexible
  • No Bad credit restrictions
  • Variety of options
  • Easy-to-use services

Cons

  • A lot of information is asked in the application process

How We Made This List Of The Best Lending Companies For Computer Financing?

Since we are discussing bad credit loans, finding sites with lower interest rates was our priority. Some lenders charge hefty APR to borrowers because of their low credit scores. The borrowers need a loan to improve it, and some lenders take advantage of this. Apart from low APR, we also looked for platforms that won’t charge any fees for the loan. APR alone is relatively high; any additional cost will increase the loan amount significantly.

Since people can’t wait to purchase a new gadget, we chose companies that provide funds for computers within 24 hours. Repaying is also a headache; a flexible repayment period would suit the borrower’s needs more. So, all the brands we chose will offer different payback periods to facilitate the borrower.

What We Look For?

Factors To Consider When Choosing a Computer Financing With Bad Credit: Buyer's Guide

Since many companies are available to offer a short-term loan, finding the right one takes time and effort. Here are some factors that can help you find the right platform to get a loan for your PC.

Having excessive money is better, but paying interest is not convenient. There is no need to get a bigger loan than your desired amount simply because the lender offers better terms.

Stick to the amount you need and find a lender that offers the best term on that particular amount. It is not easy to repay the loan, sudden expenses can arrive anytime, and you might regret taking a bigger loan.

Every lender will offer you terms that are in their favor so they can earn more. Some people don’t know that they can bargain the terms and accept them as it is. When choosing a lender or a company, it is better to check their terms and conditions and compare them with many other lenders.

Once you are satisfied that your chosen brand has the best terms, pursue that brand. If you need clarification on many brands, we share the best ones, read their reviews, and choose the most suitable ones.

This is an essential factor you must check in every brand as it can save a lot of charges. Prepayment allows you to pay the remaining loan in one installment, so you don’t have to pay more interest. Most lenders are not a massive fan of this as they can’t earn more, but this is a very convenient option for a borrower.

You can ask the lender if they have prepayment charges and how much they charge. If they are reasonable, feel free to pursue that lender. Among the brands we chose, only CashUSA offers this, making it one of the top financing brands in the USA.

If you have a stable income and can quickly repay the loan, you are better off with a single loan. There is no need to burden yourself with another loan to repay the first one. On the other hand, if you believe you cannot pay the loan on time, it is better to grab another loan and repay the previous one. Doing this might increase your debt, but your credit score will increase, helping you get a bigger loan at a much lower interest rate.

No one wants to wait days to get a loan, so it is better to choose the platforms offering loans quickly. Moreover, the application form must be simple and won’t ask for extra information so you can quickly fill it up. The processing time should be less than five minutes to connect you to the best lenders. The companies we mentioned above offer quick processing time and have a straightforward loan application you can fill in minutes.

FAQs: Regarding Computer Financing With Bad Credit

Banks usually don’t deal in bad credit loans as they are more prone toward people with more money and better financial conditions. So, the chances of getting a bad credit loan from a bank are zero.

This is why online platforms are more famous for offering such loans. In the past couple of years, short-term loans have become quite renowned, and one reason for this is their easy access. You can easily apply for a loan online, even if you have the worst credit score, without any need to visit the bank.

You’ll need a good credit score if you want a bank loan. However, if you want a loan from online platforms like the ones mentioned above, you do not need to worry about your credit score.

These platforms have been operating for decades to help people grab a bad credit loan at reasonable terms. Yes, they might charge a bit higher APR, but this is a disadvantage of keeping a bad credit score. On the other hand, if you want a credit card with a poor credit score, we recommend Ward’s credit card since it comes with the best perks.

The best computer you can get will cost around $1500 unless you want to add unnecessary gimmicks to make it look great. On the other hand, a laptop with excellent battery timing, even a Macbook, will cost you around $1200. So, on average, you might need a loan for $800 at a minimum and won’t need a loan bigger than $1200 for a good PC. The rest is up to you on the high specs you want; using all the latest parts might cost around $2000.

Yes, you’ll need an active bank account where you receive the money to repay the loan. Moreover, the lender will deposit the funds in that account unless you have other plans.

When giving the lender your information, they’ll ask for a bank account, and some companies might ask you to provide a bank account while filling out the form. Some lenders want automatic payment from your account, so they also want an active bank account. Whether you eat or not, you need an account to get a loan.

We shared the best companies on our list and a buying guide to facilitate your search. Their financing process is easy, and they can quickly help you with laptop financing despite a good laptop being pricier than a good desktop. You can purchase the computer yourself or let the lender pay.

Some lenders ask for a down payment of nearly 20% of the original price. We recommend you get the loan from the lender and purchase the PC. That’ll allow you to roam the market and check other PCs at a lower price. That’ll save cash for quality peripherals.

Some online platforms provide the loan, while the rest connect you to lenders. The platforms we share will only connect you to potential lenders; they won’t deal directly with borrowing and lending. Once you are connected to a lender, they’ll leave the scene, allowing you and the lender to make deals. That aside, let’s go ahead and see our criteria to find these platforms.

Conclusion: How can I get a new computer with bad credit?

In today’s world, owning a high-performance computer for gaming and work is a common aspiration, yet many individuals need more funds. This is particularly true for those burdened with poor credit scores, making securing a traditional bank loan challenging.

To assist those in need, we have compiled a list of the top companies specializing in computer financing for individuals with bad credit. Take the time to carefully review the details of each lender and consider which one best suits your needs.

Remember to thoroughly read and understand the terms and conditions provided by each lender.

About the author

Shatakshi Sinha

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