Smart Installment Mattress Buying Experience for Young People

When you need to buy a new mattress, you can choose between many different payment methods, with installments becoming increasingly popular. So should you consider buying an installment mattress? Let's find the answer with Ru9!

Changing your mattress at least every eight years can help improve your sleep, as well as prevent aches and pains. But buying a good mattress is not a small investment, for those who do not have the cash to pay in advance, mattress installment is a lifesaver. In this article, Ru9 looks at the pros and cons of buying a mattress in installments and some tips to protect your finances. Read on to determine if buying an installment mattress is right for you!

1. What is installment mattress purchase?

Buying a mattress in installments is a form of payment for a mattress over a period of time, instead of paying in cash upfront. You can pay for your mattress in installments with a credit card, finance company, or through a variety of store installment policies.

Install mattress through the store's policy

Whether you buy a mattress in person at a mattress store or buy a mattress online , many brands are proactively offering their own financial deals. Policies may vary like 0% installment plan, rent-to-own... but all aim to break down your mattress purchase cost into manageable chunks.

When comparing installment options, you need to pay attention to the interest rates, fees, and the length of the payment plan.

Some mattress installment plans require you to pay off your loan in a relatively short period of time, while others allow you to continue making long-term payments until it's completed in full. However, this usually means you have to pay more interest.

Install mattress through a financial company

Many mattress brands have direct partnerships with finance companies that allow customers to buy first, pay later. These companies also offer 0% interest or low interest mattress installment options to give you more time to pay.

Install mattress by credit card

Compared to having to pay off the bill in a relatively short time, a credit card can give you more time to pay off your mattress debt with no interest charged. The most competitive purchase credit cards offer 0% interest for up to 20 months. But remember that you need to pay off your outstanding balance before the 0% period expires and interest begins.

2. Advantages of buying mattress in installments

Here are some of the main reasons you might want to buy a mattress on installment payments:

Keep your savings intact

According to smart financial management tips, you should have at least three to six months of monthly spending ready. If you have that or less in the bank, it's important to keep your savings intact to prepare for unexpected expenses.

The biggest benefit of buying a mattress in installments is that it makes it easier for you to manage your finances when there is no upfront payment.

Many mattress companies offer extremely good interest rates, such as 0% interest for 6 months. If it's possible to pay off your new mattress in that time frame, why not take advantage of the interest-free mattress installment?

Affordable terms

Depending on where you shop, mattress stores may offer different installment policies. Usually, the payment terms are always surprisingly affordable. Whether visiting a store in person or buying a mattress online, it's important to compare financial offers between the parties to find the best, most affordable financing for the mattress you want to buy.

Establish or improve credit history

When you take out a loan or open a credit card to buy a mattress, your account is reported to the credit bureaus. If paid on time, installment payments for a mattress can help you establish a credit history, as well as improve your consumer credit score.

When you establish a credit history or improve an existing credit score, it will be much easier for you to make future financial matters. So you can pay for your mattress in installments even if you can afford to pay it out-of-pocket, if you don't have a credit history or low credit score. .

3. Disadvantages of Mattress Installment

The risks may outweigh the benefits of buying a mattress in installments, specifically as follows:

Spending more money than planned

Although 0% mattress installment plans are available, preference is usually given to people with a good credit history. Anyone outside of this list may be charged a higher interest rate. This results in more spending than if you paid for the mattress in full at the time of purchase.

In addition, you will have to pay a higher price than the plan intended, due to additional fees:

• Installment conversion fee
• Late payment fee

Damage to credit history

Sometimes getting a loan or installment can negatively affect your credit score. This most often happens when you miss a monthly payment or are unable to pay the rest in the future. That means your credit score will drop by a few points. Keep this in mind if you plan on taking out a bank loan or making a larger installment payment, such as a house or car.

Making mattress returns more difficult

Most bedding retailers offer a limited trial period. With installments, it becomes more difficult to recover and return the mattress, sometimes you also have to pay the accrued interest.

4. Things to keep in mind when paying for mattress installments

If you can't pay a lump sum for a mattress, mattress installment purchases can be an easy way to spread the cost. However, pay attention to the following:

• The time when interest starts accumulating
• % installment interest
• Additional fees

5. Ru9's Installment Policy

After careful evaluation, you need to look for a mattress store that guarantees secure installment payments. You can refer to the mattress installment policy through Ru9's credit card , specifically:

• 0% interest rate: no risk, incurring other costs.
• Fast, easy: the process is quick and simple, saving time and effort.
• Reduce financial pressure: instead of paying the entire cost at a time, you can now easily split the cost by month with installments.

With Ru9's installment form, you can easily buy mattresses anywhere without going directly to the store.

• Apply with many banks: there are up to 22 banks for you to choose as you like.
• Flexible payment period: flexible option of installment period with 3 months, 6 months, 9 months, or 12 months.
• Optimal policy is always guaranteed: 100-night free trial at home, free nationwide delivery, warranty up to 10 years

In short, buying a mattress on installment payments can be a useful tool when you need a new mattress but can't pay the full amount upfront. But make sure you do your research thoroughly, because not every offer is created to benefit consumers. Try to find a suitable mattress in the price range and clearly read the financial offer before committing. Good luck!