You may not have enough savings for a new gaming PC, which you might need immediately. To make matters worse, gaming PC’s can be expensive, with high-end models costing more than $1,000 and even mid-grade machines costing $500-$800.
You might be tempted to finance the purchase instead of buying the PC outright. There might even be incentives for financing the machine. So, should you finance the purchase of a new laptop? Let’s see.
- Can I Get a Gaming PC on Finance?
- Can You Finance a Gaming PC With Bad Credit?
- Is it Smart to Finance a PC?
- Is Financing a PC Worth it?
- What is The Cheapest Gaming PC
- How Much Should I Pay For a Gaming PC?
- Can You Buy a PC And Pay Monthly?
- Does HP Finance Computers?
- Is PC Gaming Better Than PS5?
- V12 Finance Gaming PC
- Finance Gaming PC Canada
- Amazon PC Financing
- Gaming Laptop Pay Monthly
- Instant Computer Financing
Can I Get a Gaming PC on Finance?
Buying a good gaming PC isn’t cheap. Of course, you can get a machine that plays games for around $500 but it’s probably not going to run anything at Ultra settings. If you want to experience games at their graphical best, you need a rig that’s over $1000.
Read Also: Four Tips To Avail the Best Car Loan
Paying that type of money up front isn’t easy. Thankfully, Amazon and some other stores have a number of programs that allows customers to finance their gaming PC purchases. This way, folks can pay in smaller installments over a period of time instead of all at once.
On Amazon for example, the system shifts payments across five months instead of making customers pay a lump sum. If someone buys a gaming PC for $2000, they can opt to pay $400 for five months.
To make things better, the financing system comes at zero percent interest. Amazon says there are “no finance charges, no interest or hidden fees, and no credit check or application required.” That’s not a bad deal at all!
This financing option is available for things like desktops, laptops, monitors, computer components, tablets, components, drives and storage, memory, networking, and computer and tablet accessories. You can finance an entire computer or just the parts you need to build one yourself. Customers have a great deal of options given all of the items they can finance.
Can You Finance a Gaming PC With Bad Credit?
Gaming PC financing with bad credit can make owning a computer possible with low payments that, if paid on time, could improve your credit score.
That’s a big upside for someone with bad credit. And so is owning a computer, or at least renting or leasing one, since a computer is practically an essential item at home and can make working from home possible.
If you can’t buy a computer with cash, you have options, including taking out a personal loan, leasing one, rent-to-own companies, and using credit from a retailer that sells computers.
Yes, computer financing is available if you have a bad credit report. Unlike a home mortgage or bad credit car loan, this type of financing is for a lot less money.
It can also come with a higher interest rate than if you had good credit and were borrowing from a traditional lender, such as a bank or credit union. You can see the typical personal loan APRs for someone who has bad credit below:
The financing costs for someone with a poor credit history can be high, so ask yourself if it’s worth paying those extra costs before agreeing to a loan. If it helps you find a job and maybe even work from home, then a credit check and the financing costs are probably worthwhile.
And, as we’ve shown, a personal loan isn’t your only option for making periodic payments if you have a low credit score. You can also make a lease signing agreement that allows you to rent a computer for a few months before deciding whether you want to use the option to buy it early or make timely payments until you own it.
Is it Smart to Finance a PC?
Generally speaking, it is a bad idea to finance the purchase of a new laptop. It doesn’t matter if you finance through the retailer or by using a credit card or a personal loan.
The financing plan can easily lead to a debt that you’re not ready to handle.
While a small monthly payment may sound easy to handle, the fact that you have trouble saving up enough money to purchase the laptop means that you’re close to not being able to make that payment.
One financial mishap could lead to you missing payments, which will incur fees and damage your credit. The other problem is that consumer financing deals often hide things in the fine print.
You might sign up for a deal expecting six months of no payments and no interest. Once those six months end, you’ll find yourself with a massively inflated balance because the promotion was actually a deferred interest deal, and not an interest-free period.
Finally:
Financing a laptop is a bad idea because it fosters bad spending habits.
If you finance a laptop, that could get you used to the idea of buying things now and paying for them later, which is a dangerous mindset to have. You could easily buy more than you can afford without realizing it, only to be stuck with an unmanageable bill.
The better alternative:
Set up a savings plan so that you can pay for the laptop in full a few months down the road.
This helps you build good savings habits, avoid the mindset of borrowing money for everything, and saves you money by helping you avoid interest charges.
Reassess cheaper options
When you cannot afford a brand-new laptop, consider low-tiered laptops that will do the job.
What about used or refurbished laptops?
You could pay for these completely in cash without going into debt — while you still have a machine for work, study, or personal use.
Is Financing a PC Worth it?
When it comes to financing, there’s always a catch. Here are some pros and cons that come with financing a laptop, as well as the financing services provided by large retailers.
Pros
- You don’t have to drop a lump sum to get your hands on a pricey laptop.
- It’s not necessary to rely on bank loans or traditional credit card services.
- Many retailers offer zero-interest rates, rewards, flexible payment structures and other perks.
- Device upgrades are sometimes included in financing plans.
The Bad
- Financing is risky; missing a payment can result in a penalty and high interest rates.
- Zero interest can reflect poorly on a credit score: Financing through a retailer means a store credit card is opened in your name for the exact amount of the purchase. The store maxes out the credit limit, which ramps up your credit utilization. Thirty percent of your credit score is based on your utilization ratio. Low payments are attractive, but zero interest is stagnant debt that can drag down your score if you let it sit over 12 months. Financing isn’t just a payment plan given out freely; you’re applying for a new line of credit, which means a hard credit inquiry by a retailer can lower your credit score. More harm is done if you’re requesting new credit several times in a short period of time. These inquiries stay on your credit report for up to two years and can hurt your score during the first 12 months if you’re not careful. Financing means a new account is opened for the amount of your purchase, which, in turn lessens the average age of your credit file. The length of your credit history is about 15 percent of your credit score. This means your credit score will take a dip after your new purchase is reported to credit agencies.
- Limitations apply for those without pre-existing credit or steady income.
- Promotion terms aren’t always transparent, according to the Consumer Financial Protection Bureau.
What is The Cheapest Gaming PC
A cheap gaming PC deal is the easiest and fastest way to get into PC gaming for the first time, or to make a clean break with an outdated, dusty gaming rig. Our first recommendation for PC gamers is always to build your own PC, because it’s a fun process that will almost always save you some money in the long run.
But that process does that does take time and patience. And with the right cheap gaming PC deal, you can avoid that barrier, and maybe even end up saving a bit of money over building your own. At the very least, it’s a whole lot more convenient. And if you’d rather stay portable we’ve got the best cheap gaming laptop deals to keep you covered too.
1. Cyberpower Gamer Xtreme
If you want a fantastic value for a prebuilt gaming PC look no further than Cyberpower’s Gamer Xtreme. Featuring an Intel Core i5-8400, Nvidia GTX 1060 3GB and 8GB of DDR4 ram, you might actually pay more than $700 when building the system yourself part for part. It’s already great out of the box, but the Gamer Xtreme can also be easily upgraded.
The 120GB SSD won’t do much if you’re looking to install multiple games, so we’d recommend upgrading that first. Especially since high capacity fast SSDs are so cheap nowadays.
Whether you’re looking to play Battlefield V or some rounds of Fortnite Battle Royale, the Gamer Xtreme has you covered with great performance at 1080p with high to ultra graphic settings. It doesn’t have any fancy RGB lighting, but this prebuilt still looks fantastic with its built in red LED fans and tempered glass panels.
2. HP Pavilion Gaming Desktop
HP may not be the first PC company you think of when it comes to gaming, but the Pavilion Gaming Desktop is a fantastic choice for gamers on a budget, with models in the $700 range that offer better gaming performance than several systems we’ve seen well over $800.
AMD’s Ryzen 5 series offers incredible performance on a budget. Combine it with the RX 580 and you have yourself a winning combination that can handle just about any modern game you throw at it. The only downside to the system is its lack of an SSD, but the modern I/O with USB 3.1 Type-C and plentiful USB ports makes it a versatile system that is great for work and play.
3. SkyTech Archangel
SkyTech PC isn’t the most recognizable name in the game, but this company has some of the best deals we’ve seen on prebuilt gaming PCs. The Ryzen edition of the SkyTech Archangel desktop is the perfect place to start for new PC gamers. The Archangel is already capable of running most games in 1080p on high settings, but it’s also easily upgraded.
Since the PC doesn’t include an SSD, that would be an obvious choice for an upgrade. The Ryzen 3 1200 that’s included is a budget AMD CPU that offers great performance but could easily be upgraded to a 5 or 7 series further down the line.
Unlike some of the bigger name brands, SkyTech’s PCs don’t have any built-in bloatware to worry about. If you don’t mind the aesthetic and have a budget in the $600 range, the Archangel is one of the few choices that rival building it yourself.
4. Acer Gaming Desktop Aspire TC-780-UR1E
If you’re on an even tighter budget or just looking to get your foot in the door for PC gaming, Acer’s Aspire Gaming Desktop TC-780 is a solid place to start. The desktop features Intel’s Core i5-7400 for a CPU and AMD’s older R9 360 for a graphics card.
These are older generation components, but the combination is still capable enough for 1080p gaming on medium settings. It won’t get you much further than that but it’s a great place to start and can be easily upgraded down the line.
The system already comes with a 256GB SSD installed, which is great at this price point. A new graphics card further down the line will make this PC even more viable for modern gaming. Acer also offers great support which can be handy for users that are new to PC gaming.
5. ABS Simpli
If you’re reading this, chances are you’ve probably heard of a site called Newegg before. What you may not have known is that Newegg actually came from a PC company called ABS Computer Technologies. The company is much busier now being one of the top PC retailers, but it hasn’t forgotten its roots and is still making and selling ABS computers today.
One of those prebuilt systems is the ABS Simpli. As the same suggest, the Simpli is a simple prebuilt PC that doesn’t offer a whole lot out of the box.
The graphics card will only allow you to comfortably play games on lower settings, but the system can easily be upgraded over time without costing a whole lot. A simple upgrade to an SSD and a better graphics card will go a very long way towards making this a viable PC for high end gaming.
How Much Should I Pay For a Gaming PC?
A typical gaming PC will cost you between $800 and $1,200. However, if you want to run high-end games, with a 60+ frame rate on max settings, you may need to pay as much as $2,000. The final cost depends very much on what it is you’re looking to get out of your new rig.
Virtual reality will be more demanding, for example, than World of Warcraft or League of Legends. The type of gaming you do and the type of performance you expect, will directly affect price.
Building the best gaming PC can run you as much as $3,000 or even $4,000 – depending on what you’re looking to do with it. If you want to run high-end video games on max settings expect to pay at least $2,000.
If you are willing to put together your own computer, you can get away with spending as little as $1,500 for a high end build (depending on whether you need accessories like a monitor). To answer the question of how much it would cost to build a gaming pc, we put together this handy chart:
| PC Tier | Total Cost |
| Destitute | $252 |
| Poor | $328 |
| Minimum | $381 |
| Entry | $497 |
| Modest | $578 |
| Fair | $701 |
| Good | $805 |
| Very good | $855 |
| Great | $961 |
| Superb | $1,058 |
| Excellent | $1,204 |
| Outstanding | $1,423 |
| Exceptional | $1,892 |
| Enthusiast | $2,068 |
| Extremist | $3,468 |
| Monstrous | $4,270 |
The above costs were obtained by consulting data from Logical Increments. The price takes into account: a graphics card, CPU, heatsink and fan, Motherboard, RAM, hard drive, solid state drive, power supply and case.
Before you ahead and start trying to estimate the cost a computer, you should clearly lay out what you expect to use it for. If you’re only playing Fortnite or League of Legends, you can get away with having a good/very good tiered computer. However, if you have ambitions of streaming or playing virtual reality games at high settings, you’ll need a machine with more fire power.
For example, the Oculus Rift team recommends you have an Intel Core i3-8100, RX 570 or GTX 1060, 8 Gigs of RAM and Windows 10. All-in-all, such a build would cost you around $1,000.
Can You Buy a PC And Pay Monthly?
As well as debit/credit card and PayPal payments UK Gaming Computers for example also offer flexible finance packages so you can purchase the system you really want today.
Their Finance packages are in association with Lending Works & PayPal which means it’s Quick, Easy, Fully automated, can all be done online and best of all you get and instant decision! Own your dream Custom PC now and spread the cost over a time period that suits your budget.
We strongly recommend you read ALL of the information page BEFORE making a finance application because if you make a mistake it is most likely that the finance company will decline your application and you will not be able to make another application for another 60 days.
Does HP Finance Computers?
From low-rate financing to a 90-day bill-me later option, HP has several offers to give your budget the boost it needs.
In most cases, you don’t need to submit any additional information for transactions under $75,000. For transactions greater than $75,000, HP Financial Services requires your most recent two years’ financial statements (preferably audited), and an interim statement if the last annual statement is more than six months old.
Some customers, especially new businesses less than two years old, may be asked for a principal’s personal guarantee.
you need to provide HP Financial Services with proof of insurance (naming HP Financial Services as “loss payee”). You can easily arrange the necessary coverage through your current insurance provider. If you don’t provide proof of insurance, a monthly risk fee will be assessed on your invoice.
HP Financial Services finances every product and service HP offers. They will also include the costs of shipping, installation, taxes, services (provided by either HP or an Authorized HP Reseller), and other manufacturers’ equipment in your lease.
Is PC Gaming Better Than PS5?
From a gaming standpoint, the PlayStation 5 wins.
There’s a reason why the PlayStation 5 is the gaming console and not the PC. It’s built and manufactured specifically for gaming. Sony keeps the costs relatively low compared to a similarly-specced PC due to a combination of volume and selling at a loss to profit from extra services that they provide for PlayStation users.
Then there’s the problem of availability. Manufacturers are currently having a hard time meeting the demand for high-performance graphics cards.
Although the PlayStation 5 is partly affected by this, Sony will be able to keep up with the demand eventually. However, there’s no telling when that’ll happen with graphics cards. This is because, aside from the chip shortage, bitcoin miners and scalpers are currently driving graphics cards prices up by buying them in bulk.
Nvidia has already taken a step to make their own line of graphics cards less desirable in the eyes of miners. However, it’s a temporary measure at best.
Not that we condone scalpers, but if that’s the only way you can get one and you have the money, then, by all means, do it. But, if you can’t afford a PlayStation 5 right now, a good alternative is to get a PlayStation 4 Pro.
Although the PlayStation 4 Pro isn’t as good or powerful, it’s much more readily available.
Sure, our proposed PC might be powerful enough to contend with the next-gen console. The only problem is that the graphics card alone costs just as much as the console itself and that’s if you can get your hands on one.
At the end of the day, the choice is completely up to you.
There’s really no better choice when comparing a PC to the PlayStation 5 because they’re not exactly meant to compete against each other. Also, each purchase comes with its own set of disadvantages and advantages, so it’s important that you think your decision through first before building your own PC or buying a PlayStation 5.
Just keep in mind that a PlayStation 5, at most, can cost you around $500 (or $800 from scalpers), while a similarly-specced PC can set you back by $1,600 to $2,000.
V12 Finance Gaming PC
V12 Finance allows you to purchase your gaming laptop over longer periods, up to 48 months. Both finance providers come with an APR of 19.9%.
Laptops Direct allows you to buy a gaming laptop and pay for it over several months via PayPal Credit or V12 Finance, with the latter only available to you if the gaming laptop you opt for is over £275.
Finance Gaming PC Canada
Financing a computer in Canada will work very similarly to other types of borrowing and the terms and rates will differ depending on our credit, which lender you go with and much more. Getting a computer financed is a great way to get the setup you truly want without having to settle for a lesser machine due to a lack of funds.
Of course, there is the option to go through a bank or other traditional means of acquiring financing. You will likely get a short-term loan as you won’t need a huge amount in order to get most computers on the market. Make sure you provide the reasoning for your loan and if you do end up going through a bank, you should ensure your credit is decent, or you may not get approved.
As a result, it could be wise to pull your credit report and deal with any blemishes before applying for financing for your best chance at a solid interest rate. This is an option for some, but if you have credit that isn’t outstanding, there are likely better options.
Amazon PC Financing
Purchase a qualifying computer using the Amazon.com Store Card and pay no interest on the entire order if paid in full within 12 months. Minimum monthly payments required. Applies only to products sold by Amazon.com.
Here’s how this works:
Step 1: Apply online for an Amazon.com Store Card. Get a response in as little as 30 seconds. Once approved, you can begin using your credit card immediately. Your Amazon Store Card will be made available as a payment option in Your Account.
Step 2: Choose a qualifying computer from the list shown here. Add it to your cart and proceed to checkout.
Step 3: On the payment page during the checkout process, be sure to place your order using your Amazon Store Card. Your purchase will show up on your Amazon Store Card monthly statement.
Gaming Laptop Pay Monthly
With PayPal Credit, large purchases become much more manageable. If you spend over £99, you can choose to spread the cost over a period of up to 36 months. Spend over £99 for 4 months interest free.
| Term | Representative APR | Payments per month | Total payable |
|---|---|---|---|
| 4 months | 0% APR | N/A | £500 |
| 6 months | 14.9% APR | £86.77 | £520.57 |
| 12 months | 14.9% APR | £44.89 | £538.64 |
| 24 months | 14.9% APR | £24.00 | £576.00 |
| 36 months | 14.9% APR | £17.09 | £614.87 |
Instant Computer Financing
Leasing a $1,000 computer for a year may cost you double that amount when the lease fees are added to the original price. Borrowing $2,000 through a personal loan for a year at a 20% interest rate costs only about $200 in interest.
Read Also: BBVA Compass Personal Loans Review
Store direct computer financing, such as that offered by Flexshopper, avoids having to get a loan and the computer can be paid for directly with the seller’s finance department. Store financing also offers a weekly payment option that can make a computer affordable. Payments are spread out over a period and the computer is all yours when it is paid off.
Some plans allow you to buy the computer outright for the original cost after leasing for about a month or so. This can save you a lot of money on leasing costs.
Some plans let you buy a computer through its in-house credit program. Wards charges its credit users 5.75% to 25.99% APR, depending on their credit score. You can treat this financing as you would a credit card and pay more than the minimum monthly amount due on time and aim to pay it off as quickly as you can.
