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Beds on hp or hire purchase: Is It For You?

by Jim ONeil on September 7, 2010

in Furniture Finance

beds on hpIf you are planning to purchase beds for your home, then you should know that there are several different types of options available for credit on beds. Even if you have the funds to purchase beds, it is important to thinkwhether purchasing a bed would really be a good option for you.

Beds today can be purchased on credit with the option of paying later in easy monthly instalments. At various stores you would also be able to avail interest free credit on beds.

Bedroom furniture on hire purchase

Although not many people would have considered the options, beds on hp or hire purchase is a good option under many types of circumstances. Basically, under a hire purchase agreement, the store would provide you the bed of your choice.

Monthly instalments would be applicable but you would not have the ownership of the bed until you pay the amount necessary in order to get the ownership of the bed. bedroom furniture advisor picIf you want you can even pay the necessary amount in full before the end of the agreement period and get the ownership of the bed.

Ownership is optional under a hire purchase agreement. If, at the end of the agreement period you do not want to purchase the bed, it can be returned to the store and you can purchase a new bed in its place.

Is hire purchase a good option?

Whether or not beds on hp or hire purchase are a good option would depend on a few factors. Basically, this option is good for those who do not have a permanent residence or those who have a job where they have to move a lot.

Individuals who are not sure how long they would be in a certain city can think about hire purchase so that they do not have to invest in beds. Also, this is a good option since they would not have to think about selling the bed when they have to move to another city or have to spend on getting the bed to their new address.

Whenever they are transferred, they can just return the bed back to the store. Hire purchase is also good for those who like to keep updating the look of their bedroom quite often. With beds on hp or hire purchase option, you can use the bed till the end of the agreement period, return it and get another bed of your choice on a different hire purchase agreement.

This finance option works quite well under many circumstances. However, you would not be able to sell the bed since it would not be under your ownership. Also, those who are interested in a long term investment should think about purchasing a bed rather than taking it on hire purchase since it would be more economically feasible for them.

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