27 answers

Where Can I Finance Furniture with Bad Credit

I need a new bedroom set, but my student loans have demolished my credit. I don't want to rent to own. I just want to buy nice, good quality furniture and make payments. I have good income and a long time on my job, so, do you know any stores that will work with me? Craigslist is kind of out because I don't have a truck. When I buy something big on Craigslist I have to rent a uhaul for $30 with a $250 deposit, then pay 99c a mile. I have to talk my honey into doing it and trying to pay someone to help. It seems like I always find what I want in Plano or some other really far place. SO, I end up getting, someone elses rejects, not what I really wanted, and having a pain in the butt and a lot of expense getting it home and put up. Wouldn't it be lovely, just once, to buy something new, under warranty, and have it delivered and set up.

What can I do next?

So What Happened?™

I'm paying back my student loans. But I will be paying them back for the rest of my life. I do pay my bills on time. But my student loan debt is hgiher than my available credit - therefore it has a very negative impact on my credit. There is no quick and easy fix for my credit problem. I NEED a new bedroom set because the mattress was given to us years ago and it was in terrible shape then. It is supported by stacks of books. It has gotten to the point that my husband and I are in pain. He works really hard, back breaking physical labor and deserves a good nights sleep. We need dressers because we have clothes all over the place! It's a source of contention in our relationship. I work hard and I want a nice, calming, clean bedroom. We work hard, we tithe, we deserve a decent bed. I will more than likely do Craigslist, as usual. But saving $ for a few months doesn't really work out because I am a giver to the core. I will save for something I want and then my daughters car will break down, or the kids will get a great opportunity to go do something fun, or somthing else will come up. So, sometimes, I just have to stop in my tracks and do something for myself. If I Iet not having good credit stop me, we wouldn't have a decent car right now. If I waited until my credit improved - well, I'll be dead by then.

Featured Answers

Try craigslist or bookoo.com ..........people are getting rid of very nice stuff these days for very cheap. Cash is King

1 mom found this helpful

More Answers

I know this is not a direct answer to your question, but it is a direct answer to your problem. Bad credit is a PC way of saying you didn't pay your bills on time. You say you "need" a new bedroom set. Unless your old set is partially destroyed by fire or flood or something similar your real "need" is to repair your credit and to learn the difference between a "need" and a "want".

If you can learn to tell the difference between "need" and "want" and only buy the "needs" and save and invest the rest, you can become rich and live well. One of the few smart things congress ever did was to exempt student loans from bankruptsy.

Mamapedia has had numerous questions about saving money and spending less for what you "need". Read them and learn. Salvation Army, Craigslist, and a site for giveaway items are there to help you with the "need" furniture at inexpensive prices.

If you have any other questions or want more suggestions for saving money, e-mail me. But, I'm taking my wife on a cruise for her birthday, so I won't be back for 10 days to answer your questions. (I bought my needs and saved my wants so I could show my love and honor my wife with this cruise.)

Good luck to you and yours.

6 moms found this helpful

If you can afford to make payments, then don't make payments. Save your "monthly payment" for a few months and then just pay cash for whatever you buy. Sure, you will have to wait a little longer to purchase and get the benefit of using it, but you will also be in a better bargaining position when you go to buy, will not have any payments to worry about, and will be more likely to buy what you can actually afford rather than what you can "afford to make payments on"... which are usually not the same thing.

Also, consider visiting some estate sales or going on Craigslist.

I JUST went on Craigslist (local listings) and the first thing there was a 5 piece hardwood Bassett Queen bedroom set (dresser/mirror, tall dresser and head/footboards, including mattress & boxspring) for $400. There are photos too. Most furniture listings will show photos. The one I saw probably cost about $1500 new, or more if you included the mattress/boxspring. So definitely check it out where you are.

I would also recommend reading Dave Ramsey's book or enrolling in a Financial Peace University class somewhere near you. After reading your additional information, it sounds like you might need to adjust your perspective regarding giving. Teaching your kids money management skills and how to save for things (including emergencies) is a valuable skill to teach (GIVE) to them. Perhaps you could teach them those skills through example rather than giving monetary gifts, while you save up for a bed/dresser.

5 moms found this helpful

8kidsdad just said exactly what I was thinking!!!

If you have student loans and a good income, pay those babies off yesterday, then save the money and pay cash for a bedroom set.

I have been married 20 years. We have a "bedroom set" consisting of my old dresser and 2 old tables, my husband's bed frame and dresser from his first apt, and a nightstand from my aunt---and none of it matches. I would love a new bedroom set. But I don't need a bedroom set.

We have 3 teen age boys who are on track to go to college. Four years ago, one child got hurt and needed over a year of phys. therapy and doctor's visits, and my in laws needed help with a major home repair recently. We might get a new bedroom set someday....might not. I personally believe in the big scheme of things, it doesn't matter.

If you finance anything with your credit...car, furniture,... you are going to pay thru the nose until your debts are gone. Some might work with you, but you are going to hate the rates and the terms. A huge red flag goes up to any potential lender when they see your current status. So change it and go with furniture later on.

Best of luck.

5 moms found this helpful

You sound like a generous person, and I'm sure you deserve something nice for yourself. But do you really need a matched set of furniture? I sure don't mind the look of hodgepodge furniture in my bedroom--no two pieces are alike; they were purchased at different places and times. We lived without a headboard/footboard for a long time--we just had our mattress and box springs on a frame. It sounds like you mainly need clothing storage and a new mattress. Check Big Lots, Sam's Club, or even online for a mattress. Find some dressers at a yard sale, thrift store, or whatever. One of my most treasured possessions is my huge, solid Heywood Wakefield clothing armoire, purchased at a yard sale for $120.

3 moms found this helpful

If you have a good income, then make payments to yourself a few months and then go pay CASH.

Try Craigslist, garage sales. Don't go into more debt.

3 moms found this helpful

Save up til you have enough ca$h. Dave Ramsay, Dave Ramsey, DAVE RAMSEY!!!!

3 moms found this helpful

A rent to own place might be your only option w/ bad credit. With this economy stores have really tightened down on who they give credit to. I did a rent to own before and the place I went to did 6 months same as cash so in the end I didn't end up paying interest but will still able to make monthly payments.

I know how frustrating it is to make good money but bad credit. I messed mine up when I was younger and it took me several years to get it back up (still working on it).
Good luck!

3 moms found this helpful

Hi T.,
My husband makes good money and works really hard too! He and I have also have great credit. I tell you the truth when I say we never have bought a new bedroom set! We got our dressers, mirrors, night stand from a second hand store and the mattress was a hand me down from my mother. The bed frame was the only thing we bought new and we got it cheap from IKEA. I also splurged on a new bed set, sheets, comforter, pillows. So in total we only spent about $500.00 on our entire bedroom. You don't have to go buy new to make something nice or feel new to you. I don't know of any credit company that would allow you to finance with bad credit that wouldn't rip you off in the long run. If you have bad credit they make you pay are really really high interest rate. So all that to say that in the long run it's just not worth financing new furniture. There is no shame in buying second hand!

3 moms found this helpful

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