How to Buy a Computer With Bad Credit

It is often difficult for a borrower with bad credit to secure financing for a computer purchase. If the borrower is working on repairing bad credit, a lender may offer to finance a smaller amount than the borrower requires. Once the borrower obtains financing it is important to keep the payments current so future credit will be easier to obtain.

• Ask a relative to help you buy a computer by co-signing on the financing. Explain to your relative why you need a co-signer and how you intend to avoid bad credit problems going forward. If you are in the process of repairing your past credit, give your relative the details on how you are progressing.


• Choose the computer you want to buy and review the financing options. If you are shopping at a store, ask the salesperson for a credit application. If you are shopping online, find the section of the website where you apply for financing.


• Complete the application and have your co-signer complete the joint section of the application. Give the paperwork to the salesperson if you are at a store. Submit the electronic application if you are buying a computer online.


• If your application does not receive an approval, use a search engine to find bad credit lenders. The interest rate is usually higher at these financing sources, but you can offset the extra interest by accelerating your monthly payments. Apply for financing without the co-signer to see if you receive an approval. Add the co-signer if you receive a denial.


• If you receive a conditional approval from a lender, find out what the conditions are and see if the terms are acceptable. Many lenders offer financing for a smaller amount than the computer purchase price. Decide if you can switch to a less expensive computer or put more money down on the purchase to meet the terms of the conditional approval.