Playing on a pool table.

Pool Table Financing

If you have been shopping for a pool table, you know one thing, they are expensive. Even the most basic table is going to cost you 2000 dollars and the price quickly goes up from there. This means that for many, financing is the best option to get the gaming table of their dreams. If you have bad credit, a loan still might be an option for you. Find out now.

Let’s Get Started!

Infographic on pool table financing with bad credit.

Links: Get Your QuoteAbout Your LoanGetting Your Pool Table

About Your Offer

No loan should be taken lightly and this is true whether you have good credit or bad credit. And, with pool tables easily costing 5000 dollars or more, you should be careful. Before you get and possibly accept an offer, lets take a minute to learn about the offer process and your potential loan.

Getting Your Offer

First, lets look at getting your offer for pool table financing. The process if very simple and should take only a few minutes. Here is how it will work.

  1. First, you need to fill out the loan quote form located at the top of the page. The form will walk you through all of the steps one by one and should only take a few minutes. It will ask for your contact information, as well as your information about your income. You will also need to enter your bank numbers because, should you accept a loan, this is how your lender will get you your money.
  2. Second, you need to accept the terms and submit your offer. When you do this, your information is sent securely to the loan network where a lender is found who wants to make you an offer.
  3. If a lender is found, you will be sent to their website to review your offer. This is where you have the opportunity to review your offer. Take the time to get very familiar with your loan. Pool table financing with bad credit may result in an offer with high interest and/or fees. Make sure the cost is worth it.
  4. Now, you simply need to decide yes or no. If you like your offer, you could have your money as soon as the next business day. If not, you can just turn it down and go about your business. There is no obligation.

Pretty easy, right? When you are ready to go through the steps to get your offer, just head to the top of the page and fill out your quote form.

Deciding On A Loan

All loans should be taken seriously. They are big commitments and you must make sure that the cost of the credit is worth the reward, in this case, a pool table.

When you receive your loan offer, you will get all of the details about how much the loan will cost you, in total, if you carry the loan out to term. If you have bad credit, this number is probably going to be high so you need to make sure that it is not too high.

For example, if a 2000 dollar pool table is going to cost you 4000 dollars or more when all is said and done, you should probably not accept that offer. Only you can decide what your number is but remember, this is a luxury item so you need to not let your need for immediate gratification cost you financially.

Once You Get Your Pool Table Loan

Once you get your pool table financing offer, if you decide to accept it, there are some things you should consider.

Paying Your Loan Back

This should be your primary concern when taking out a loan. You need to make sure that you can afford it.

Fit the loan payment into your budget and compare it to your take home income. If you have money to spare, you are good to go. If not, you will need to either make some budget cuts or increase your income.

If making a budget cut is the way to go, there are a lot of options that could shave $200 or more off of your monthly expenses. You could shop for cheaper auto insurance, cut out cable or even put that gym membership on hold. Anther option is to cut that food budget. You have to eat, but you can switch over to cheaper staples and start taking your lunch to work instead of hitting the drive thru.

An easier option to make that pool table loan payment might simply be to add income. If you can spare a few hours a week to put towards part time work, you can easily add $400 or more to your monthly income. Some options are picking up a shift a week at your local Walmart, driving for Uber or simply delivering pizza. You have a lot of choices these days.

Buying Your Table

If you accepted an offer, your lender will deposit money directly into your bank account. This means that you will not be shopping with store credit, you will be a cash buyer. This gives you a lot of options.

For starters, it allows you to shop multiple stores and even online outlets for your pool table. With something like a pool table, shopping local would be the preferred method since it would allow you to see and examine the actual table you would be getting. That being said, you will not be stuck buying from one store, so you can price shop and negotiate.

Another benefit of being a cash buyer is that you can shop the used market. Many people buy pool tables only to find out that they get used mostly for doing laundry. This is a great thing if you can deal with a used table. You could easily save 50 percent over the cost of a new table. Just be sure to take into account the difficulty of moving and setting up a table. You will probably want to hire a professional to handle this for you.

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James Car is a finance, loan and budget expert based in the United States. After attending Brookhaven college, he went on to become a successful entrepreneur. He now enjoys writing articles that help people save and make the most of their money.