Buy Furniture With Bad Credit: Best Stores with Financing Options

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Buy Furniture With Bad Credit: Best Stores with Financing Options

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2 weeks ago
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Do you have bad credit? Are you in desperate need of new furniture? Here are ten furniture retailers that will provide financing regardless of a bad credit score.

10 Furniture Stores That Finance People With Bad Credit

1. Flex Shopper

flex shopper

Flex Shopper leases furniture that operates entirely online. It offers a plethora of items including:

  • Electronics (video games, TVs, laptops, cell phones etc.)
  • Jewelry and Watches
  • Furniture and Appliances
  • Health, Fitness and Sports equipment
  • Smart Home and Office Accessories
  • Wheels and Tires
  • Musical Instruments

How Does It Work?

Fill out an easy, online application in minutes. Once you are approved you will qualify instantly for a $2500 spending limit (approximately $113 a week). You can then shop all products available online.  Once you select the product (s) you wish to lease, you simply e-sign the lease agreement. Once your products are received, your weekly lease payments will be automatically deducted from the back account you provided on your application. After 1 year of lease payments, you then own your product.

What are the Requirements?

To be able to use Flex Shopper, you need to have had a bank account for at least 3 months or 90 days and earn at least $1000 per month. You can receive up to a $2500 credit. 

What’s Good About It?

Flex Shopper offers a flexible lease payment programs, including an Involuntary Unemployment Payment Waiver if you do lose your job. This waiver program provides lease payment forgiveness for up to 4 months, for a max of $1000 on all leases, until you return to work. Secondly, there is a courtesy waiver if a person who is listed on the lease agreements passes away. If this unfortunate event occurs, all lease payments are immediately forgiven.

2. Shop Factory Direct

shop factory direct

Shop Factory Direct is not a furniture retailer, but a strictly online dealer that sells direct to furniture manufacturers. Their offering includes:

  • Bedroom, Living room, Kitchen furniture
  • Bathroom accessories
  • Game room accessories
  • Office furniture
  • Home Theater
  • Patio and Outdoor

Additionally, Shop Factory Direct has a clearance section as well. These clearance furniture items are given generous discounts.

How Does It Work?

Shop Factory Direct has two avenues to choose from for financing. You can use PayPal financing options, or you can lease all items in a 12-month lease arrangement. At the end of 12 months, provided you have paid every payment, you then own your item.   

What are the Requirements?

To use Shop Factory Direct, you will need to adequately show 6 months of consistent employment. Further you will also need to prove that you receive at least $1000 a month in steady income. 

What’s Good About It?

Shop Factory Direct does not charge annual membership fees (think Costco, or Sam’s Club), and also provides free shipping. They also offer a premium service to their free shipping option – for a slight cost (depending on the item) Shop Factory Direct will carry and install the furniture inside your home. There is also free cancellation from 24 to 72 hours from after your purchase (depending on when the item is shipped – if it already has been shipped, there is no cancellation).

3. Bob’s Discount Furniture

bobs furniture

Bob’s Discount Furniture offers both online and physical in-house shopping options.  Their complete store offering (physical and online) includes:

  • Furniture (Living room, bedroom, kitchen, outdoor/patio, home office, etc.)
  • Mattresses
  • Specific home décor items (rugs/carpets, lamps, mirrors, etc.)

How Does It Work?

You can choose to either “lease-to-own” (i.e., make lease payments) or use a My Bob’s Card to finance. If you decide to lease any item, you will have to execute your purchases only at a physical Bob’s store location, rather than online. If you wish to purchase online, you can use a My Bob’s Card offered by Wells Fargo, Fortiva Retail Credit, and Vive Financial. The Bob’s card offered by Wells Fargo offers various tiers as well as no-interest financing provided you complete your lease payments within a designated time frame (usually before 6 or 12 months depending).

What are the Requirements?

There are no financial requirements listed on their website, however, there is no credit check and the My Bob’s “No Credit Needed” Option can be utilized (though only for in-store purchases). Conversely, you can also utilize My Bob’s card for online purchases as designated above. 

What’s Good About It?

Their prequalification process will determine ultimately what is the ideal financing option for you based on your responses. Further, the fact that Wells Fargo and other banks offer no-interest financing options – provided on your timeliness of lease repayment – is refreshing. 

4. Ashley Furniture

ashley furniture

Ashley Furniture is both a furniture retailer and manufacturer.  They have an online as well as brick-and-mortar presence. They offer:

  • Furniture (Living room, bedroom, kitchen, outdoor/patio, home office, kids room, etc.)
  • Storage and organization
  • Décor and pillows
  • Lighting

How Does It Work?

Similar to Bob’s Discount Furniture, you can choose to lease any item from Ashley’s (utilizing Progressive Leasing) or utilize their store credit card (financed via Synchrony bank). Though unlike Bob’s Discount Furniture, you do not need to purchase physically in-store depending on which financing method you decide upon. 

What are the Requirements?

You need to be in 18 years old (though 19 in Alabama), have a valid social security number, and an open and active checking account. However, Progressive Leasing is not available to residents of New Jersey, Minnesota, Vermont, Wisconsin, and Wyoming. In those states you will have to qualify for Ashley’s store credit card instead, as determined by Synchrony bank.

What’s Good About It?

Ashley Furniture is the largest furniture store in the United States and has been operating for over 20 years. They obviously take care of their customers and offer the highest quality products.  They have over 500 physical retail locations spread out through America, thus ensuring every American has access to high quality furniture and home products, regardless of credit or income background. It is a true American company that embodies the American spirit. 

5. Furniture Mart 

furnituremart

Furniture Mart offers both online and in-store purchases, though their physical stores are only located in Iowa, South Dakota, and Minnesota. They offer your standard furniture and home décor, including home entertainment, office, and youth accessories. 

How Does It Work?

Furniture Mart shoppers have three financing options available to them: they can utilize a store credit card (financed via Wells Fargo), lease-to-own via Progressive Leasing (same as with Ashley’s), or utilize a store layaway. Furniture Mart’s layaway option offers only 25% down for any furniture.  You can then decide how you want to pay back the remainder of the cost, though this will have to be negotiated directly with Furniture Mart.

What are the Requirements?

There are no financial or banking requirements as listed on their site, though you will have to file a pre-approval application with either Wells Fargo to qualify for a credit card, or with Progressive Leasing to utilize the lease-to-own option. The same state restrictions apply with the latter financing option.

What’s Good About It?

Because of its limited physical locality, Furniture Mart is able to offer a store layaway option that national retailers like Ashley’s or Bob’s are unable to provide. Store layaway provides an alternative financing option for local shoppers who do not wish to increase their debt and current payments. Hence store layaway is a more ethical option for shoppers who wish to avoid debt. 

6. Elgin Furniture

elgin furniture

Elgin Furniture is both an online furniture store, but also has a physical presence in Cleveland, Ohio. Similar to nearly every furniture retailer we have discussed so far, Elgin Furniture stocks your standard furniture and home décor, including home entertainment, office, and youth accessories.  

How Does It Work?

There are two financing options available for Elgin Furniture shoppers: in-store financing and/or using a store credit card (backed by Synchrony bank and also Snap Finance). The in-store financing option allows you to purchase any item, sans any minimal purchase, interest-free for three months. Further, each store credit card offered also provides their own individual interest-free payment plans. 

What are the Requirements?

There are no financial requirements listed to use Elgin Furniture store credit cards.  However, to use a card backed by Snap Finance you will need to be at least 18 years old, own a checking account for at least 90 days, and have a consistent stream of income of at least $1000 per month. 

What’s Good About It?

The no-interest financing options are always attractive, as we’ve touched upon above. Also, since Elgin’s is local to the Cleveland area, they offer next-day delivery. They also provide 5-year protection plans allowing shoppers to replace their damaged items. 

7. Snap Finance

snap finance

Snap Finance is not a furniture retailer per say – rather they are a lease-to-own platform that allows you to search for particular furniture stores within your area that are in Snap Finance’s financing network. 

How Does It Work?

Once qualified, Snap Finance members can obtain up to $3000 in credit, typically with 12 month repayment programs. 

What are the Requirements?

To be eligible for the Snap Finance network, you need to be at least 18 years old, own a checking account, have a steady stream of income (no amount specified), and have a valid email address and/or cell phone.

What’s Good About It?

Not much, apparently. Snap Finance’s lease to own payment program is according to their reviews, quite simply a rip-off, due to their high interest payments. Their customer reviews state that based on their financing, a furniture item cost nearly twice as much for them by the end of their 12-month repayment plan. This is undoubtedly due to high interest rates that coincide with Snap’s financing program. It may be better to forgo an online payment plan like Snap and simply use a financing option directly through your local furniture store. 

8. New Lots Furniture

new lots furniture

New Lots Furniture offers both an online as well as physical store option, located in Brooklyn, New York.  It offers a variety of furniture and home décor items, including fireplaces, mattresses and bedding, outdoor accessories, and lighting. It also offers the Ashley and Meridian brands.   

How Does It Work?

New Lots Furniture only processes credit applications in its lone physical location in downtown Brooklyn, New York. Though if you are local to the area once your application is processed you can immediately qualify for a $300 credit. They offer a plethora of financing options including:

  • Snap Finance (no credit check),
  • Acima (no credit check)
  • Progressive Leasing (no credit check)
  • Kornerstone Credit (no credit check)
  • American First Finance (no credit check)
  • Westcreek (credit check)
  • Capitol Discount (credit check)

Each payment plan offers a 12-to-24-month payment program, with up to $6,000 in approved financing. Each financing option will have their specific requirements, but generally, they all require a checking account that has open for at least 90 days and proof of consistent income (ranging from $500 to $2000 per month). 

What are the Requirements?

To pass the New Lots Furniture application process you need a 30 day bank statement, valid state photo ID, most recent proof of income, and a voided personal check. To prove length of employment and income you will need a current paystub with a “year to date” indication, or a letter from your employer.  You also can qualify via social security or disability benefits. There is also a $40 hold put on your debit card which is refundable after approximately 3 weeks if the customer ultimately chooses not to finance.

What’s Good About It?

New Lots Furniture does offer a wide range of financing options, allowing you to select the one that rightly fits your personal finance needs. One obvious downside however is the store’s sole location in Brooklyn. This indicates that New Lots is primarily designed for local New York City residents as opposed to national shoppers.

9. Luther Sales

luther sales

Luther Sales is an online-only furniture retailer. They offer a variety of items including:

  • Stay-at-home essentials
  • Holiday gift ideas
  • Home furniture
  • Electronics
  • Appliances
  • Jewelry and handbags
  • Sporting goods
  • Outdoor accessories
  • Exercise equipment

How Does It Work?

Their application process takes 3 minutes, and they offer 36-month financing options. All you need is to fill out the application and you will be approved the same day.

What are the Requirements?

Luther Sales requires you list a place of employment, and obvious proof of income. That would mean a recent paystub. 

What’s Good About It?

Luther Sales seemingly has a lot of decent programs available on their website, including a:

  • “True Financial Wellness” program,
  • Free delivery and white-glove service installation options,
  • Free extended warranties,
  • No membership fees
  • Budget friendly low payments

Based on their 36-month payment plan, it’s obvious that the monthly payments of Luther’s shoppers will be drastically lower than a 12-month repayment plan as we saw from most of the stores above. 

10. Bob Mills Furniture

bob mills furniture

Bob Mills Furniture has physical locations in Texas and Oklahoma. In addition, they also have an online presence. They offer your usual variety of furniture and home décor products.

How Does It Work?

Shoppers at Bob Mills Furniture can choose from either a store credit card, a lease option via Progressive Leasing, or no-interest financing through Westcreek. Once qualified, customers can choose from three different Bob Mills credit cards.  These credit cards come with additional lucrative financing options provided your credit score – though bad – is a little higher relative to those with worse credit. 

What are the Requirements?

The same restrictions apply with Progressive Leasing as we mentioned earlier. No specific financial requirements are listed, although assuredly they will arise once you begin your application. 

What’s Good About It?

To have three financing options at your disposal is always commendable. Further, the three credit cards offered by Bob Mill’s provides further lucrative financing options as aforementioned. These include repayment plan of up to 60 months and approvals of up to $7500. Also, your credit lines will increase after your first five on-time payments. Hooray!

Conclusion

So, there you have it – ten furniture stores that help finance even if you have bad credit. It must be stated that any payment plans based on bad credit will simply offer high interest payments, further saddling you with debt. If you really need to finance, go for affordable furniture. Just because you’re financing doesn’t mean you need to go all out and get the most luxurious brands.

Therefore, a store layaway option – as offered by Furniture Mart – or a no-interest financing option are both highly recommended. If you are looking for a furniture retailer with the legacy as well as size to show for it, Ashley’s is your store.

However, out of all the retailers we looked at, only Flex Shopper offers a waiver program, in case you lose your job or a family member who was on the lease. Thus, it is imperative you inquire about these waiver programs should you decide to enter into a lease payment program! Happy shopping. 

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