Tuesday, January 15, 2008

How to Get a Loan for a Computer


Owning a personal computer is almost as important as owning a telephone or a vehicle. In order to effectively communicate and have access to all of the information on the web, it is becoming imperative that most families and individuals possess one. Getting a loan for a computer is a fairly easy task since nowadays the prices are better, thus the loan rates are as well. Follow these steps to get a computer loan.


Difficulty: Moderate



Step One

Call around to local banks and find out who is offering the lowest interest rate on personal loans. This is the best place to start if you have decent credit.

Step Two

Get a secured loan. This means that you put up some form of collateral, such as a certificate of deposit (CD), as guarantee of repayment on the loan. Usually, you will be required to pay the loan back within one or two years at a rate of around 10%.

Step Three

Opt for a loan from the company you buy your computer from. Most big name computer companies, Dell, Hewlett Packard and others, offer loan packages to purchasers, even with less than stellar credit.

Step Four

Obtain a loan through your college or university. Nowadays, most schools have special loan plans for students to help them with their computer needs. Check online to find out about loan options through your school.

Step Five

Choose to go through your credit union to get a personal computer loan. If you belong to a credit union through your job or college, this is a fantastic place to get a competitive rate.

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