Though the prices have lowered considerably, notebooks are still expensive items. Nevertheless, they are becoming increasingly essential for many jobs and especially for those who travel a lot. In order to purchase a new notebook most people need some sort of finance and though the usual method of financing these purchases is credit cards, truth is that personal loans are an excellent choice too and they also might be less expensive.
Timing For Computer Purchases
When purchasing computers whether it is a personal desktop computer or a notebook, timing is of the essence. Whenever a new operating system is about to come to the market it is best to wait till it is on sale and all new computers come with it. Otherwise, upgrading is usually costly in terms of money, time and hassles.
Moreover, whenever a new hardware product of significant importance (mainly microchips) are about to come to the market, you should also wait as the presentation of such a product will immediately push previous products’ prices down and you will be able to get a much better deal on them.
Different Finance Options
When it comes to financing there are many options available. For starters, the stores generally offer different options whether they have agreements with credit cards or not. You may get a line of credit from the store or some stores even have closed credit cards of their own. In any case you should always compare what the different finance products really cost as it will add up to the product price in the long run.
Credit cards, if no promotion is available, generally charge high interest rates. But store cards usually have even higher rates. An alternative to both are personal loans. Some stores offer personal loans too but you should focus on traditional lenders or lenders specialized in personal loans as stores usually overcharge for financing.
Personal Loan Is the Best Choice
A personal loan for purchasing a notebook is definitely the best choice. This is mainly due to the fact that given that these products are expensive, you can not do with only one or two installments and thus, paying with credit card and financing will turn out really expensive. You may end up paying over 50% more.
Personal loans on the other side, have a fixed interest rate, you will be able to repay it in 12 months, 24 months or even more and the monthly payments are definitely affordable enough for you not to worry about how it might affect your budget. The interest rate charged by personal loans is usually half the rate of credit cards and sometimes even lower.
As a final note, do not forget to look around for online lenders that are currently offering special promotions on personal loans that are available even for people with bad credit and are specially tailored for those who want to purchase new computer equipment. Some lenders even have agreements with some stores or hardware brands and offer special promotions to their customers. You can search online and consult with local banks and other lending institutions.