1Jan/106
I Am Currently Shopping For A New Lcd Tv. A Quick Question Regarding A Loan From A Bank?
I am currently shopping for a new LCD TV. I have found a 42' Samsung LCD. I want to purchase it but at the same time dont want to empty my bank account. Would a bank accept a loan application for something like wanting to purchase a new TV. I know many banks will offer personal loans starting at $1,000. But would they accept a loan request for something like wanting a new TV. Any helpful advice would be great, Thanks in advance!
January 1st, 2010 - 16:23
You can take a “personal loan” for whatever reason you want, don’t need to specify. Now, you are probably better of getting it at a store where they have the “no interest, no payment” or whatever for a year or something like that. Then pay it off before the time is up and cancel the card. Good luck.
January 1st, 2010 - 16:55
If you cannot afford it, don’t buy it!!!!
A personal unsecured loan is about 15% interest – so if you take the loan out for a year, is it worth a 15% premium?
This is dangerous behavior – it sounds like the next step will be, if you lose your job, to find yourself drowning in debt.
The only thing you should ever borrow money for is an appreciating asset (house), or, if you have to, a car.
January 1st, 2010 - 20:28
join a group/club/organization, take a night school course, do something that gets you out of the house and you wont need the tv
January 1st, 2010 - 22:30
If you have the money in your account and offer that explanation than most likely yes. You don’t need to offer collateral if you have enough to make payments in cash. But I agree with everyone else, go with a 0% interest for 12 month type sale and avoid the interest debacle all together.
January 1st, 2010 - 22:36
If you have to get a loan to buy a TV then you cannot afford the TV. The will usually will not accept a TV as collateral on a loan.
January 2nd, 2010 - 00:00
Do you really want to pay interest on an LCD TV that is going to lose value??? That kind of purchase may be better with a circuit city or best buys 12 months same as cash financing. if you cannot pay it in 12 months, you shouldn’t be buying it. Its not my place to tell you what to buy or what you can afford. Save the bank loan for something like a car or home, not a tv. If you are looking for a decent price on a tv, check out http://www.onsale.com. I’ve seen some sweet deals. Watch the shipping charges and make sure you get insurance on it. You don’t want to mess with returns.