Engagement Ring Financing

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Engagement ring financing.

If your eyes glaze over when it s time to talk wedding budget you re not alone. Ideally you ll want to secure a 0 financing deal with the jewelry store or put the ring on a low or 0 apr credit card. Financing an engagement ring allows you to purchase a ring that costs more than the cash you have on hand. When financing an engagement ring taking out a personal loan should be your last resort.

When you finance you agree to a payment plan or contract with the loaning entity. Even for the mathematically inclined it s difficult to know what kind of budget to set for an engagement ring. The good news is it s easier than you think. Your other payment options.

This means you can finance a ring and pay no interest if you pay off the balance before the promotional period ends. Quick easy credit approvals with simple transparent terms. Four main options are available when it comes to financing an engagement. Special terms apply to qualifying purchases charged with approved credit.

Enjoy 0 interest financing for up to 24 months on designer engagement rings wedding rings certified diamonds fine jewelry. Special rate of 9 99 apr with 48 equal monthly payments 2 2 the diamonds direct credit card is issued by wells fargo bank n a. However jewelers financing options may not have the best terms or interest rates and you generally won t get any cash back or rewards on the engagement ring purchase. Some jewelry stores offer 0 deferred financing for up to 12 months.

But if a 0 percent financing offer isn t available to you a personal loan could be a better option for financing an engagement ring than putting the ring on a credit card at the double digit regular apr. Engagement rings can be a significant investment but most jewelry stores offer some sort of financing program and many even have programs for those with less than perfect credit. With those methods you should pay the ring off before the promotional period expires. Promotional periods interest rates and monthly payments are agreed upon upfront.

Obviously using a personal loan to finance an engagement ring will tack on a considerable amount of interest to the total cost of your ring. The special terms apr of 9 99 will apply to the qualifying purchase and 48 monthly payments equal to 2 5567 of the original special terms balance are required.