You can get a bad credit Gateway computer from a number of different sources. In fact, you will find many companies out there that specialize in PC financing for those with poor scores. Some of the companies are pretty reputable, while others have raised quite a few eyebrows over the years. Some are even using slogans stating you can improve your score by using their laptop financing. This is somewhat true, since a keeping up on a bad credit Gateway computer loan will actually improve your score, but most of the programs have such strict guidelines and charge such high rates of interest, that many fall behind. Bad credit Gateway computers are out there, but you must use caution.
Companies that offer bad credit Gateway computers charge very high rates of interest. Companies like Blue Hippo PC and others charge rates of interest that far exceed what you would expect to pay at a local bank or lender. This is not to say they are a scam. Companies like Blue Hippo PC that offer bad credit Gateway computers are in fact offering a service to those that have few options. Since they are going to those with poor scores, it is safe to assume they are taking greater risks than that of traditional lenders. After several years of problems and negative publicity, Blue Hippo filed bankruptcy. It seems they weren't sending out the PC's as promised. To avoid this, you may want to apply for free laptops for low income people.
Interest rates will be high when you are looking at bad credit Gateway computers, or those from other companies like Dell or HP. You can expect to pay for the PC several times over during the course of a three year loan. Still, if you have no other option it may be worth the investment. It really depends on how poor your score really is and how much you need a new PC now. You may want to check out scratch and dent laptops and desktops, which you can buy cheap.
One of the tricky things you must consider when you are looking at bad credit Gateway computers is the initial cost of the PC and not just the PC financing. Some companies offer guaranteed laptop financing for students. Many PC financing companies offer a convenience since you buy the unit directly from them. There is a catch here that you must be aware of. Since they are the ones selling the PC, they are the ones setting the prices. Desktop and laptop financing companies that offer bad credit Gateway computer loans can get away with charging a much higher initial price for the unit since those with a poor score have fewer options. This can mean that you will not only pay incredibly high rates of interest, but also have much higher upfront costs. In fact, you may end up paying 50% more than you would at a local retailer. This could make getting a bad credit Gateway computer quite expensive. You will not only pay for the laptop several times over from interest, but you will pay a much higher initial cost to get it.
Who are these companies?
Blue Hippo PC is the most known provider. If you are looking at a bad credit Gateway computer, there is a good chance you will be dealing with this company, or another very similar company. Some have raised quite a few eyebrows with their business practices, while others are considered to be very reputable. You will really need to dig in and find out what the company you are dealing with is all about. Use caution when you look to get your bad credit Gateway computer from one of these PC financing companies. This should apply to all brands, including Dell or HP. Be sure you buy with confidence.
Of course, you all know there are some alternative to buying bad credit Gateway computers through financing companies. I'm not going to bore you or insult you with talks about saving your pennies in an old mayo jar. This isn't always a reality for many looking to get a new laptop when they cannot secure a loan to get one. Let's stick with some more realistic methods and alternatives to bad credit Gateway computer financing.
Refurbished: You can get a bad credit Gateway computer if you look for a factory refurbished laptop . Most are sold with full warrant, and often include simple customer returns. You can reduce the cost so much, that you may be able to secure financing though a more traditional lender. This could help you save money on interest. In fact, if you are looking for a bad credit Gateway computer, you may want to check out the companies own site to see what types of deals they have on refurbished laptops. Dell, for example, has a great scratch and dent section as well.
Used: Rather than search for a bad credit Gateway computer, you may wish to simply look at a used model. There are many repair shops that sell used PC's at greatly reduced prices. Some are actually not too old and quite relevant for what you will likely need. You can cut the cost by up to 70% this way, so you may not need bad credit Gateway computer financing.
Low income families: You may be able to get bad credit Gateway computers without a loan. Charitable companies like Freecycle, WCE, and CRC may actually allow you get a laptop free of charge. There are income restrictions, but many of these programs actually do give out free PC's to those in need, especially when children are in the home. This may be a much better option than a loan for a bad credit Gateway computer.
Local lenders: You may want to give a local lender a shot. Even if you have a poor score, you may come out much better than you would with a company offering a bad credit Gateway computer financing plan. If you can, try to find out how much you need to improve your score to secure the loan and try to make changes. If you need a new PC immediately, consider asking a loved one to cosign the PC financing loan for you. Be sure you pay off the loan on time to avoid problems with your cosigner. This may be a great alternative to a bad credit Gateway computer financing company.