Pay Weekly TV – Finance or Hire?
What’s your best option for getting a cheap TV?
If you’re looking for a pay weekly TV that won’t cost the Earth, there are a few options out there.
You could go down the smart TV on finance route – also known as buying on credit, or ‘rent to own’, or ‘rent to buy a TV’, amongst others. This means you essentially get a loan to buy your TV outright, then repay that loan on a weekly basis – plus interest.
Alternatively, you could choose the television rental option. This means you’d rent a TV like you’d rent a car – you pay a flat weekly fee for the time you’re using it, then you give it back when you’re done. Simple!
So, which is better – rent or finance?
With rent to own, you own your TV – that’s good, right?
Not necessarily! The interest that comes with your rent to own loan means you’ll end up paying more for your TV than if you’d bought it outright – and by the time you’ve paid it off, it’ll be an outdated model!
When you rent, you never own your TV – which isn’t for everyone. But it means you don’t have to pay out of pocket if it breaks, you don’t get hit with interest, and you can return it for a newer model when it’s time to upgrade.
TV hire is becoming more and more popular for these reasons – it’s much more flexible, accessible and affordable!
What about credit scores?
When you buy on finance, because it’s a loan, you’ll need a full credit check before you can buy – which might be a barrier for some people with a poor credit score.
When you rent, it’s a bit different. Because it’s just a rental agreement rather than a loan, you can get a pay weekly TV with bad credit – TV rental places will look at your credit report, but not your score.
It’s only your recent payment history that matters – not your credit history from years ago.
