White goods such as washing machines, tumble driers, and dishwashers are an integral part of any home. Most of us couldn’t cope without a washing machine at our beck and call. There are still laundrettes in larger towns, but they are few and far between, and usually nowhere near residential areas.
When you have kids, a washing machine is essential. You will probably struggle without a tumble drier too, especially when it’s raining outside. But how do you afford any of these appliances if you are on a low income or have no job at all?
In truth, it is tricky. When money is tight and you have very little spare cash, purchasing a brand new washing machine or tumble drier is likely to feel like an impossible dream. White goods are relatively affordable these days but expect to pay £300-£400 for a decent brand.
The cheapest way to pick up a new washing machine or similar is to look for a second-hand bargain. Check out Facebook buy/sell pages in your local area. There are often bargains to be had, where people have bought a new appliance and are selling off their old one cheaply. You may be able to find a decent quality machine in good working order for a pittance.
If a search yields no results and you can’t manage much longer, write your own listing, asking for the owners of any suitable appliances to get in touch. You might get lucky.
There are companies that rent rather than sell appliances. For a weekly payment, you can take delivery of a brand new appliance. Repair costs are usually included as part of the deal. This may sound like a good deal, but the weekly payments will soon add up and in most cases, you won’t ever own the appliance. So, all that money goes down the drain.
Buying on Credit
If you don’t have the cash to pay upfront – and who does? – your best option is to look for a way to spread the payments of a new appliance. Most stores offer credit to their customers, or you can use a credit card to spread the cost over as many months as you like. But if you have a poor credit history, as many people on a low income do, what are your options?
One way around the problem of poor credit is to look for a lender that offers short-term loans. An example of this type of lender can be seen at Cashlady.com who offer no credit check short-term loans. They don’t do a hard credit check, so if you have a poor credit record, it won’t make any difference. It also protects your credit history, as soft credit searches are not visible to other lenders.
If you need a short-term loan to buy a new appliance and your credit score is low, this is ideal. You can repay the loan over three months at a fixed interest rate, which makes it easier to budget for the expense.
There are always solutions if you are struggling to replace a broken-down appliance. But if you do decide to borrow the money for a new one, make sure you can afford the repayments.
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