Electronics financing
Laptops, desktops, televisions, consoles and tablets, with instant decisions and programs that read income rather than only a credit score.
The short version
Electronics is the category where financing terms most often outlive the device, so term length matters more here than anywhere else. Programs start at $200 with instant decisions in most cases. A laptop financed over 24 months is reasonable; a phone financed over 60 months is not, and the no-credit-needed program is deliberately capped at 24 months partly for that reason.
Realistic expectations
Typical tickets and sensible term lengths
Match the term to the useful life of the device. This is the single most useful rule in the category.
| Device | Typical cost | Useful life | Sensible term |
|---|---|---|---|
| Laptop | $600–$2,500 | 4–6 years | 12–24 months |
| Desktop or workstation | $900–$4,000 | 5–7 years | 12–36 months |
| Television, 55–75 inch | $500–$3,000 | 7–10 years | 12–24 months |
| Gaming console | $400–$700 | 5–7 years | 12 months |
| Tablet | $400–$1,500 | 4–5 years | 12 months |
| Phone | $500–$1,600 | 3–4 years | 12 months |
Ranges reflect published program terms. Approval, approval amount and terms are determined by the provider after underwriting and are not guaranteed.
Buying well
Four rules specific to electronics
Never finance longer than you will use it
If the term outlasts the device you are paying for something you no longer own the use of. This happens most often with phones.
Use the early buyout aggressively
Electronics tickets are small enough that clearing a lease inside the 90 to 101 day window is realistic for most people. On a $900 laptop it is often the whole difference.
Price refurbished
Manufacturer-refurbished laptops and consoles typically cost 20 to 30 percent less with the same warranty, and are financed exactly the same way.
Skip the extended warranty on small tickets
On a $500 device, a $90 protection plan is 18 percent of the purchase. On a $2,500 workstation it is more defensible.
What is covered
Devices and accessories
Computing
Laptops, desktops, monitors, printers, tablets and peripherals, new and refurbished, any brand.
Home entertainment
Televisions, soundbars, projectors, streaming devices and gaming consoles.
Mobile
Handsets, tablets and accessories through independent wireless dealers, typically $300 to $5,000.
Business equipment
Workstations, servers, point-of-sale hardware and office technology sit on commercial programs from $500 — usually better priced than the consumer route.
If it is for work, finance it as business equipment
A laptop bought through an equipment program rather than a consumer lease is typically cheaper, and may qualify for Section 179 treatment. Speak to your accountant.
Questions
Common questions
Can I finance a laptop with no credit?
Yes. The no-credit-needed program starts at $200 and decides on income and banking history rather than a credit score, with an instant decision in most cases.
Can I finance a phone?
Yes, typically between $300 and $5,000 through independent wireless dealers. Keep the term short — a phone financed beyond its useful life is a bad deal regardless of the rate.
Does it cover refurbished devices?
Yes. Manufacturer-refurbished electronics are financed routinely and usually cost 20 to 30 percent less with comparable warranty cover.
Should I finance electronics for my business instead?
If it is genuinely for business use, an equipment program from $500 is usually cheaper than a consumer lease and may carry tax advantages.
How long should the term be?
No longer than you expect to use the device. For most electronics that means 12 to 24 months, not 60.
Keep reading
Related pages
See what you qualify for
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