Laptop computers are increasingly gaining market share compared to desktop models. This is especially the case for personal computers, but even businesses are using laptops more often. The reason for this increase is because laptop computers are becoming much more powerful, to the point where they can perform better than the desktop computer models of only about three years ago. When you add this new power to the advantages of lower price and portability that laptops have always had, it is no wonder that laptop computers are becoming the principal, workhorse computer in many homes and even some businesses. However, while prices have come down relative to other things, laptop computers remain an expensive purchase, with most good ones costing at least $500. There are ways people on a tight budget can still buy a decent laptop, which include using a credit card, getting a loan, and laptop layaway plans. This article examines the pros and cons of each method.

Using a credit card is the way most people use. The advantages are that the buyer is protected if the computer is defective, and that monthly payments can be quite low if the card is not carrying a high balance. The main disadvantage is that because of interest charges, one ends up paying a lot more, especially if monthly payments are kept small. Penalties for missed or late payments can also be steep. This option is best for those who can afford to make a few large payments rather than many small ones.

The options of getting a loan or buying with payment plans share the advantage of being available even to most people who have bad credit or no credit history. Typically, you only have to show that you have a reliable source of income and a checking account. However, interest rates and penalties can be higher than with a credit card, and protection is limited. With a payment plan, make sure that you can take possession right away.

Laptop layaway plans, in which you pay monthly installments first and get your computer after you’ve finished paying, are the least expensive way to go, because you typically pay less interest than or even no interest. Of course, the main disadvantage is that you have to wait to get your computer. Also, you have to be careful. There are scammers out there, such as the now Blue Hippo company, which take your money but never deliver the computer.

This post is tagged with: blue hippo, credit card, laptop layawy, monthly installments