What to Know Before You Finance Furniture

At a Glance:

Understanding Your Financing Options

Smart Questions to Ask Before You Sign

Financing Options at Lacks Furniture

Why Trust Lacks Furniture?

Furnishing your home is exciting, but it can also be a major investment. From upgrading your living room to refreshing your bedroom, the cost of quality furniture can add up quickly. That’s where furniture financing comes in it allows you to bring home the pieces you love now and pay over time in a way that fits your budget.

Before signing up for a financing plan, it’s important to understand how these options work and what to look for. Financing can be a smart and flexible way to manage your spending, but every plan comes with its own terms, benefits, and responsibilities. Knowing the difference between interest-free financing, installment contracts, and lease-to-own options can help you make the best decision for your needs.

At Lacks Furniture, we’re dedicated to helping customers create beautiful, comfortable homes with flexible financing options designed to make that process easier. From 48-month interest-free financing to 72-month special financing *terms apply with no money down, we offer several ways to make your purchase more affordable. In this guide, we’ll walk you through what to know before you finance furniture so you can shop confidently, stay within your budget, and enjoy your new space stress-free.

Understanding Your Financing Options

When it comes to financing furniture, understanding your options can help you choose a plan that fits your budget and lifestyle. At Lacks Furniture, we believe that bringing home quality furniture should be both simple and affordable. That’s why we offer a variety of flexible financing solutions designed to work for you.

Here’s a quick breakdown of the most common types of furniture financing and how they work:

• Installment Contracts: Pay off your furniture in fixed monthly payments over a set period. Once all payments are made, you fully own your furniture.
• Lease-to-Own: Ideal if you want more flexibility, this option lets you lease the furniture and own it after completing the payment term or making an early buyout.
• Credit-Based Financing: Some plans work through credit approvals and may include special promotions like low or zero-interest periods for qualified customers.
• In-House Approvals: Lacks offers in-house financing to make approvals easier and faster, helping you get the furniture you need without the hassle.

It’s also helpful to understand a few important financial terms before committing:

• Interest-Free Period: The timeframe during which you won’t be charged interest if you make all payments on time.
• Deferred Interest: Interest that may apply retroactively if you don’t pay off your balance within the promotional period.
• Minimum Monthly Payment: The smallest amount you need to pay each month to stay current.
• Total Cost of Financing: The total amount you’ll pay over time, including any interest or fees.

By reviewing your furniture financing interest rate, payment schedule, and ownership terms upfront, you’ll make a confident, informed decision that keeps your purchase affordable and stress-free.

Smart Questions to Ask Before You Sign

Before you sign on the dotted line for your new furniture, it’s important to ask the right questions so you understand exactly what you’re agreeing to. At Lacks Furniture, we encourage our customers to take a thoughtful approach to financing. Asking a few smart questions upfront can help you choose the best plan for your needs and avoid surprises later.

Here are some key questions to bring up before finalizing your financing:

• What is the interest rate after the promotional period ends? Understanding when and how interest applies helps you plan your payments more effectively.
• Is there an early payoff penalty? Some plans may charge fees if you decide to pay off your balance early, so it’s always best to confirm the details.
• Are there additional fees or processing costs? Knowing about any potential charges upfront helps you accurately calculate your total cost.
• How does my credit score or income affect approval? Your credit history and debt-to-income ratio can influence your financing terms, including the down payment and interest rate.

It’s also essential to take an honest look at your monthly budget. Choose a payment plan that fits comfortably within your financial limits, so you can enjoy your new furniture without added stress.

When comparing store financing vs personal loan options, consider factors like interest rates, promotional terms, and convenience. Store financing, like the options available at Lacks, often comes with special promotions such as interest-free periods or in-house approvals, making it a simple, flexible solution.

Finally, think about long-term value. Investing in quality pieces that will last for years is often better than overspending on items that won’t hold up. With a smart financing plan, you can bring home furniture you love while keeping your finances balanced.

Financing Options at Lacks Furniture

At Lacks Furniture, we believe upgrading your home should be exciting, not stressful. That’s why we offer a variety of furniture financing options designed to fit your lifestyle, budget, and credit profile. Our goal is to make it easy for you to bring home the furniture you love today while paying over time in a way that works best for you.

Here are some of our most popular financing programs:

• 48-Month Interest-Free Financing: Enjoy four years of equal payments with no interest during the promotional period, making it simple to manage larger purchases. *on in-store purchase $4200 or more made with your Lacks Furniture Synchrony HOME Credit Card. Equal monthly payments required for 48 months.
• 72-Month Special Financing with No Money Down: A great choice for those who prefer smaller monthly payments, allowing you to spread the cost over six years without an initial payment. *On purchases $500 or more made with your Lacks Furniture Synchrony HOME Credit Card
• In-House Approvals and Installment Contracts: Our flexible in-house financing makes it easier for customers with various credit histories to qualify and start furnishing their homes.
• Lease-to-Own (Lease-to-Own) Plans: Ideal for shoppers looking for flexibility, these programs let you lease furniture with the option to own it later through easy, scheduled payments.

Applying is quick and convenient. You can start online or visit your local Lacks store for personalized help. Once approved, our team will guide you through your payment schedule, terms, and any promotional details.

While long-term options like 72-month financing provide low monthly payments, it’s important to review the full agreement. Keep in mind:

• Longer terms may lead to a higher total cost if interest begins after the promotional period.
• Always make payments on time to maintain your promotional benefits.

At Lacks Furniture, we’re here to help you finance furniture confidently, so you can create the home you’ve always envisioned stylish, comfortable, and perfectly you.