Our experience with Instantfinance24
Like most Americans, I’ve had some ups and downs with my credit-mostly downs. You know, those credit cards from a bank you’ve never heard of with an interest rate that is higher than Jeff Bezos’s net worth. These companies prey on the vulnerable and make it impossible to ever get ahead.
The Process
Not long ago I found myself browsing www.instantfinance24.com. It’s a lease-to-own platform with brand name electronics that are shipped for free (or picked up) directly from Best Buy. Additionally they offer furniture and appliances. The process was pretty simple. I filled out an application, found out my approval amount, shopped for the items I wanted and picked them up the same day. Pickup was very easy. I literally just showed my ID and was out of there within minutes. The maximum approval amount they offer is $5000 which is more than fair if you ask me. Overall it couldn’t have been easier.
New…sorta
I guess lease-to-own isn’t that new at it’s core, but the way Instant Finance 24 did it is pretty new. The interest rates were fair, and if the lease is paid off within the first 90 days, there was a minor fee but nothing too crazy. There was however, a slight premium on the actual product itself, which I was fine with.
I’ve narrowed down a list of the pros and cons of buying items this way.
Pros:
- No/bad credit can still be approved
- Same day pickup is available at Best Buy
- The selection of items is huge and is pretty much the entire Best Buy catalog
- They also offer products direct from Amazon and other major retailers.
- I didn’t have to pay a huge chunk of money upfront
Cons:
- You have to pay a fee to the lender
- You pay a slight premium on the product itself
- You might get carried away if your limit is too high
- You might get approved for an amount lower than the price of your desired items
Get Qualified
They do require some info beforehand. Which isn’t uncommon for lease-to-own. They require 3 months worth of income history, monthly income that’s more than $1k, a valid credit or debit card, an active checking account that’s at least 90 days old or more, that checking account must be in good standing.
My credit score
What’s nice about lease-to-own (specifically Instant Finance 24) is if you make your payments on time and ultimately pay off your items, it gets reported to the credit bureaus. So if you’re looking to build credit, this may help.
The Bottom Line
In conclusion, you can avoid the high interest lines of credit and the credit denials by using instant finance 24. Sure, you pay a bit more than face value for the items, but not having to pay it all up front makes it palatable. Their fees are outlined clearly, the process is simple, and the selection is great. I highly recommend it
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