How Do Easy Payment Plans Engagement Rings Work?

Easy payment plans engagement rings are becoming popular nowadays. This option is very helpful to those who are in need of an engagement ring but do not have the means to pay in full. You might think that it is hard to look for jewelry stores that offer installments for their jewelries, but the truth is, there are lots of them online and all you need is to do a search.

Where to Look For?

Again, it is not easy to look for companies that offer easy payment plans engagement rings online. There are lots of jewelry stores that offer various financing options, including monthly installments and layaway plans. If you do not have any cash available on hand, these stores are the best places to go to when shopping for engagement rings. Take note however, that you might be charged high interest fees for this method of shopping.

Ice.com

Although many buy now pay later catalogs have jewelry in it, ice.com specializes in jewelry and offer nice engagement rings with deferred payment options. Read more about ice.com by pressing here.

Jewelry Store Layaway

The layaway plan is actually old school. This basically works just like monthly installment plans, where you will be given an option to pay your jewelries on a staggered payment. Other companies would not require any down payment, but some companies would require a 10% to 25% down payment in cash. There are also other companies that will charge you for service fees and other extra costs. Therefore, before you decide to apply for easy payment plans engagement rings, make sure that you familiarize yourself with these financing schemes so you will know what you are up to.

Difference of Layaway and Installment Plans

Some people would often confuse layaway with the usual installment payment plans. Although they are similar in a lot of ways, there are not the same. Monthly installments will require you to bring the jewelry at home, on that same day that you purchase the item. But layaway plans will only let you receive the item after you have paid in full. The process of payment is pretty much the same where you need to pay certain amounts on a monthly basis. However, with the layaway scheme, you will not be asked to pay the item at a fixed price. The store can lower the price of the item in case the selling price of the jewelry goes down within the layaway period. With easy payment plans engagement rings, you will be paying the same amount even if the market value of the engagement ring decreases.

Why Choose Installment Plans

Installment plans are the best option when it comes to buying jewelries in case you do not have any cash available. For one, you get to bring home the item with you on that same day you have bought it from the store. With layaway schemes, you still have to wait till you pay the product in full, before you can bring home the item. Also, with the layaway plans, there is a possibility that the store could close down within the layaway period. In this case, you might not be able to get the item that you have been paying for in a monthly basis.

So if you are running out of cash, yet you need t o buy an engagement ring right at this moment? Your best option is to apply for easy payment plans engagement rings.