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Installing new carpeting can instantly transform the look and feel of a room. However, the cost of new carpets can be daunting. Fortunately, carpet retailers provide flexible payment options to help make that new flooring more affordable. Here are some easy ways to pay for new carpets that will work with almost any budget.

In-Store Financing

Many carpet stores offer their own in-house financing programs. This allows you to split your purchase into multiple manageable payments over time. Terms often range from 6 months up to 5 years. Approval requirements are usually less stringent than standard bank loans or credit cards. As long as you have decent credit, in-store financing can be a simple way to pay without paying everything upfront. Interest rates vary by retailer but are often comparable to most credit cards.

We at Pay As You Go Carpets offer in-store financing to buy new carpets. Instantly finance £600 for new carpets at Pay As You Go Carpets. Pay back the credit on a weekly basis with affordable £10 installments.

Credit Cards

Using a general-purpose credit card is one of the easiest ways to pay for carpets over time. As long as you have available credit, you can simply charge the new flooring purchase. Depending on the card, you may even qualify for 0% introductory APR for 6-18 months. This allows you time to pay it off without incurring any interest charges initially. Just be sure to pay off the balance in full before the 0% rate expires. If not paid off, deferred interest accumulated during the intro period may be added to your balance.

Home Equity Loans and Lines of Credit

If you're a homeowner, a home equity loan or line of credit offer an affordable way to finance home improvements like new carpets. The interest rates are generally lower compared to other financing options. Since your home serves as collateral for the loan, interest rates for home equity lending tend to be very favorable – often below 5% APR. This can save you hundreds of dollars in interest charges compared to higher-rate financing. Payment terms up to 20 years are also available, keeping monthly payments lower on larger loan amounts.

Retail Installment Contract

Some independent flooring dealers offer their own in-house financing called a retail installment contract or retail installment agreement. This allows you to pay for the carpets overtime through fixed monthly payments, generally spanning 6 to 36 months. It works much like an auto loan but for retail goods and home improvements. Qualifying for retail financing usually depends on your credit score and income more than your employment status. Monthly payments are predictable, making it easy to budget. Just be sure to shop interest rates and terms across dealers.

Final Words

Depending on the lender and loan type, interest rates can range from 0% up to 29% or higher. Be sure to calculate the total interest paid over the loan term before committing. Shorter terms often have lower rates helping you save on interest. Avoid steep deferred interest plans unless you plan to pay off quickly. Review all financing terms carefully before signing anything. With some smart planning beforehand, financing can make refreshing your floors more affordable so your feet can enjoy that plush new carpeting sooner!