If you’re living with small children, you’ll be well aware of how important it is to make your monthly shopping budget stretch; especially during these crucial back-to-school months when there are school uniforms to buy and countless minor expenses building up. But there are always times when a major purchase is essential – and the need for a new washing machine, cooker or refrigerator is one of the most common ways in which a thinly-stretched household budget can come under serious strain. Whether it’s due to a house move or an old appliance breaking down, sometimes these purchases just can’t be put off.
However, there are alternatives to being forced to fork out a lump sum that leaves you struggling to make ends meet for months to come. One option that many families find useful is using buy now pay later companies. These allow you to make an instant purchase on a product and pay for it in affordable weekly instalments, making it much easier to work a large overall sum into your budget.
Buy now pay later electricals are available from a number of retailers, including specialist rent-to-own companies. Their specific terms and conditions vary, but in general they allow you to buy new and used appliances and spread the cost over an agreed time period. You can often get top-of-the-line products for very affordable rates, sometimes with no deposit required. Some companies also allow you to choose between weekly, fortnightly or monthly payments to best suit your budget.
Photo credit: Marco Papale.com
If you’re going to go into a pay weekly agreement, it’s important to be aware of the terms of your agreement. If you’re worried about missing a payment, there will usually be options available to you – such as temporarily returning your appliance to freeze your agreement – but it is vital to discuss this with the company in advance, as you could otherwise face missed payment charges. Like any agreement, if you choose a reputable company and stick to your side of the terms and conditions, you shouldn’t have any problems. Make sure you use a properly registered and accredited retailer with an established brand name.
Another option is to buy second hand from specialist retailers or online marketplaces. There are a great many bargains to be found if you have the time and inclination to shop around, and sometimes you can even get free items if you agree to collect them yourself. On the other hand, the quality can be variable, so tread carefully. Remember, buying a used appliance from an independent seller means you probably won’t have any kind of warranty or after-care agreement, so be sure to inspect the appliance carefully before purchasing, and make sure you know which warning signs you need to be looking out for to avoid handing over your cash for a broken or faulty product.
However you choose to buy your appliances, remember that the best way to save money is to avoid having to spend again in the future. A dirt-cheap new washing machine may look appealing on paper, but if you need to replace it again six months down the line, have you really had the value of it? Keep a keen eye and don’t be afraid to take your time to find the right deal. Good bargain-hunting instincts always pay off in the long run.
Guest post from Bright House