About expensive purchases in simple terms
It's no secret that engagement and subsequent marriage are always quite expensive. And even having a certain budget, you often have to go beyond it, because we all want to make the upcoming event special and not save on the most important thing. The costliest part of a marriage proposal is, of course, the ring. But it must be unique and wonderful! So how to be? The FJewellery store team has some worthy ideas that will help you solve this problem and buy the best jewel on the most favorable terms!
How to buy an engagement ring on finance
First, it's worth saying that paying in cash is the best option. Thus, you won't spend more than your budget, and subsequently avoid additional expenses. However, if this isn't possible or the chosen ring costs more than expected, there are other options to get the desired accessory.
- Store financing. In most jewellery boutiques, there are very favorable purchase conditions. The store may offer you financing at very low or no interest. Buying at 0% is great, but you need to be careful here! As a rule, such conditions are valid for a certain period, after which the interest rate increases greatly and if the loan hasn't been repaid by this time, the overpayment will be very high. Before signing such an agreement, carefully study it (especially the text printed in small print). If necessary, take a break and consult with a specialist how these conditions will be beneficial for you. Don't rush into things like this!
- Get it now and pay later. Another option is third-party services through which you can get financing. There are many similar services that most jewellery shops and online stores cooperate with. Their conditions are such that you make a purchase for a certain amount, from which the loan and its repayment period are calculated. Here you can also count on interest-free lending, but you should not forget about possible pitfalls!
- Layaway service. A great option if you've found a stunning gold or silver ring but can't pay for it right away, and it might be out of stock later. In this case, you pay part of the cost (20-30% of the price) and the goods are reserved for you. Within a few months, you must pay the balance and a precious gift in your pocket!
- Credit card. This method is used by many people and makes it easy to make a large purchase. But don't forget that these cards have very high interest on the loan! In addition, it's possible to make minimum payments, and at first glance it's convenient, but as a result, the maturity of the debt will increase significantly, and, consequently, its amount. When choosing this method, try to cover the loan monthly and not delay payments. If you are just about to get your first credit card, look for profitable and interesting offers. It's really possible to find cards even with a 0% rate for the first time and other pleasant and loyal conditions for new users. However, keep in mind that it will take some time to issue and receive a card, so making an urgent and quick purchase will not work.
- Personal loan. A method that is suitable if the above options don’t suit you or there is no way to use them. Getting a consumer loan for the required amount is quite easy, and you have 2 to 5 years to repay it. With a good credit history, it's possible to get the most favorable conditions under which the loan can be minimal, less than 10%. It'll be really more profitable than other financing options, where promotions expire, and the interest will skyrocket.
If you still have questions about financing your purchase, or you have already looked for a delightful engagement ring for your beloved, and now you want to clarify all the details, you can always contact the FJewellery website specialists for advice online. Buy smart and enjoy shopping with us!