A less-than-perfect credit score will realistically decrease your chances of getting approved for a financing tanning beds, but it will not impede you. That is right – it is still possible to buy tanning beds with slow credit. Do not let the opportunity to pay for your tanning equipment in more flexible terms pass you by. Sole proprietors and partners with slow credit like you can still get decent equipment financing and retain as much operating capital as possible.
But first, do you even have ‘slow credit'?
You have slow credit when you do pay your bills, but not quite on time. If you have ever received a warning from your creditors or late payment notices, then there's a chance you are already tagged as a ‘slow creditor.' Still, you should check to find out. Some credit card companies allow you to be late for as long as one month before they submit a report to credit agencies. If you turn out to be in good standing, then you never have to worry about whether or not you can get tanning beds with slow credit. A clean credit record entitles you to simpler and faster equipment financing schemes.
How will I buy tanning beds with slow credit?
If you find out that your credit report shows you to be a slow creditor, do not panic – you can sill buy tanning beds with slow credit. Slow creditors are typically seen to be less of a threat than people with bad credit, so in the eyes of financing companies, you are still a good candidate. Just follow the regular procedure for applying for tanning equipment financing – submit all the documentary requirements, call the toll-free numbers if you have to, and expressly state why you want to avail of the loan and how you intend to pay for it. Be sure to convince the financing company that your business is doing well, or, if it is a start-up, that it is very feasible. The best way to make sure that you get to finance tanning beds with slow credit is to impress the financers with your business' performance. Your personal credit record is already flawed, so downplay that and refocus their attention to how profitable your business is or will be.
You will typically get a custom quote within 2 days (some financing companies even give quotes in as fast as 24 hours). Your monthly payment amount will be determined by a lot of factors, such as the total price of the tanning bed you want to purchase, shipping and installation price, taxes, term of loan etc.
What is the downside of buying tanning beds with slow credit?
If you are buying tanning beds with slow credit, do not expect to get the same low interest rates that people with better credit standing are given. The equipment financing company will see you as a bit of a ‘risk,' and they will minimize that risk by making you pay a bit more.
Remember to do your research before you sign up with financing company, though. Just because a company is willing to lend you money to buy tanning beds with slow credit does not mean they are the best – for all you know, others are willing to offer you lower interest rates. In the long run, even a .05 percent difference goes a long way. Shop around for the best deal first, and then sign up.