{"id":752,"date":"2022-10-31T18:11:07","date_gmt":"2022-10-31T07:11:07","guid":{"rendered":"https:\/\/blog.fundo.com.au\/?p=752"},"modified":"2024-11-07T14:46:42","modified_gmt":"2024-11-07T03:46:42","slug":"your-guide-financing-for-furniture-with-bad-credit","status":"publish","type":"post","link":"https:\/\/fundo.com.au\/blog\/your-guide-financing-for-furniture-with-bad-credit\/","title":{"rendered":"Your guide: Financing for Furniture with Bad Credit"},"content":{"rendered":"

When you have \u2018Bad credit\u2019 – nothing feels easy.<\/strong><\/p>\n

The already hard task of moving into a new home can seem harder still when faced with the task of needing to furnish it on top of all the other related expenses, moving trucks and boxes, utility connection fees, and end-of-lease cleans – it\u2019s never-ending!<\/p>\n

So where do we begin?<\/strong><\/p>\n

You\u2019ve found the place, you know your move-in date, let\u2019s talk budgets.<\/p>\n

If you have savings set aside for this purpose, you might have already set a strict budget for yourself that you\u2019ll need to stick to. To make it easier to stay within the confines of your budget, consider where you will purchase your furniture, and how you\u2019ll get it to your new place – online furniture retailers can often have huge sales and great discount codes available, but they don\u2019t always offer fast delivery, and if they do it can come with a hefty fee, so make sure you\u2019re factoring this in when you consider how a piece fits into your budget and circumstances.<\/p>\n

If you\u2019re surprised to be moving, you might not be prepared with the whole amount in savings to back you up – so what now?<\/p>\n

Plan and research. Get started by noting the key factors and things to consider for your unique situation, such as your move in date, things you\u2019ll need, your budget and where the funds will come from.<\/p>\n

Once you know what you need, make a rough estimate of the costs.<\/p>\n

Knowing how much you need can be a deciding factor in how you\u2019ll go about obtaining the funds. If you only need a small amount a friend or family member might be able to loan it to you, or you might have time to save it up, however if you need a considerable amount more, or a longer term to repay the funds you might be considering in a furniture loan<\/a>.<\/p>\n

What are my options for furniture loans if I need to finance my purchases?<\/strong><\/h3>\n

Many lenders offer credit cards or furniture loans<\/a>, including FUNDO.<\/p>\n

If you\u2019re in good standing with your bank or credit union, they may have a credit card or personal loan that suits your furniture budget, and future repayment budget, or you could look into non-traditional financing options such as furniture rental or store credit cards. If these options don\u2019t really work for you, such as in cases where the minimum amount to be loaned or advanced on a credit card is more than you need, or the repayment term is too long, you could consider a short term loan with FUNDO. We\u2019ll never lend you more than you can afford to repay and can give you your application outcome within 60 minutes!<\/p>\n

Do lenders run your credit report for furniture loans?<\/strong><\/h3>\n

Yes. Most lenders will run a credit check prior to approving an application for a credit card or loan, it\u2019s a standard part of the procedure for most lenders in Australia and not specific to furniture. If you\u2019re in need of a loan but you\u2019re concerned about your credit history<\/a>, FUNDO offers No Check Loans<\/a> up to $2000. The information on your credit file is important, however we have the opportunity to make our assessment based on your overall financial situation, without getting stuck on black marks from the past, FUNDO considers your overall circumstances, how the blemish may have occurred and how your financial situation is looking now.<\/p>\n

What credit score do you need to finance furniture?<\/strong><\/h3>\n

When you are looking into finance for furniture, there really is no set credit score which you must have in order to secure a loan. If you\u2019re concerned about your credit history consider a loan with a lender that looks at more than just your credit score, can provide your outcome in 60 minutes, and let\u2019s you spend anywhere you choose. Don\u2019t worry about your credit score at all with a FUNDO no check loan!<\/p>\n

Do furniture loan credit checks count on your credit report?<\/strong><\/h3>\n

Yes. All inquiries made about you with credit reporting bodies are recorded on your credit report and are factored into your overall credit score. If you have never made an inquiry, and don\u2019t have any utility or phone bills yet, your score might be quite low because the credit reporting bodies don\u2019t have much information on how you handle your finances.<\/p>\n

If you make a lot of inquiries, it can also leave you with a lower-than-average credit score due to excessive enquiries.<\/p>\n

Can I still get finance for furniture with bad credit?<\/strong><\/h3>\n

If you have bad credit, some lenders may not be able to offer you finance. Usually, these lenders have strict criteria that they must adhere to around the credit score, and even if it was just one small mistake or you don\u2019t have any financial troubles now, each lender has their own criteria that they must stick to. If bad credit is a concern for you, consider a No Check Loan for furniture with FUNDO!<\/p>\n

What are the benefits of a furniture loan with FUNDO?<\/strong><\/h3>\n

Here\u2019s a snapshot:<\/p>\n