The Pros and Cons of Furniture Financing Companies

Need new furniture but afraid you can’t afford it? Furniture financing can help, but picking the right company to handle your finances is tricky. Additionally, your credit score may determine what kinds of options are available for you. Some companies will help you replace your existing furniture or buy new a new set even if you have bad credit, but you might be hit with higher interest rates and fees. Here are some of the pros and cons of the best furniture financing companies out there.

By: Vik Holovanov Dec. 11, 2018

How Do You Know When It’s Time To Replace Your Furniture?

It’s not always obvious when your furniture starts to break down. It might look just fine on the outside, but if you notice that your furniture feels uncomfortable to sit or lay it, then it might be time to upgrade it. Your furniture may need to be replaced if you start experiencing unexplained pains after you use it, such as in the neck or back. Moving is a great time to start over with new furniture. It will even save you money by not having to rent a truck to transport your old furniture.

The lifespan of your furniture depends on the style and construction. Carpet can usually last anywhere from 3 to 25 years depending on how you care for it, the warranty you have, and the quality of the carpet. Loveseats and sofas may last anywhere from 5 to 10 years and dining room furniture usually has a lifespan of 5 to 15 years depending on how it was constructed. Broken, loose, or wobbly furniture should be replaced right away to avoid safety issues.

Financing is available for living room and dining room sets, bedroom sets, kid’s furniture, office furniture and more. Don’t let bad credit stop you from investing in the furniture you deserve to remain safe and comfortable. Several companies will work with you even if you have bad credit. The best things to do are research your options and determine which company and furniture pieces will work best for you. Here are some companies and plans to consider.

Snap financing

To use Snap financing, you must be at least 18 years old, have a checking account, and be employed. After filling out an application on the company’s website, you can make furniture purchased at a Snap merchant in your area if you are approved. The company offers a unique lease-to-own financing plan called “no credit needed financing” that allows you to obtain furniture without a credit report from one of the three major credit bureaus. If you qualify for the process, Snap will loan you up to $3,000 in financing. They use data from alternative information sources to verify your income status and determine your options.

Progressive Leasing

Progressive leasing is one of the world’s largest financing companies. They are currently offering a no-credit-needed nationwide financing for 12 months. Funding is available within the 48 continental states, and a 90-day payoff option is available. You can get approved by filling out an online application and then calling (866) 652-5422 to place your order. You’ll need to have your approval code, a credit card, and your credit limit on hand.


Zibby offers a simple lease-to-own financing option for your furniture needs. It allows you to shop now and pay over time. The company works by buying the items and leasing them to you. They collect a recurring payment from you while allowing you to remain comfortable and in control of your finances. Leases are available for terms of 12, 18, or 24 months.

To use Zibby’s service, you’ll first need to get pre-approved by filling out an online application. You’ll be able to receive a decision instantly. Then you can shop normally and select the items you wish to lease within your spending limit. When you checkout, make sure your select Zibby and make your first lease payment.

Synchrony Home

Synchrony Home provides you with a credit card that is accepted at 10,000 different retailers for home purchases, including flooring, furniture, electronics, appliances, and more. You can select a financing option that ranges from 6 to 60 months with monthly payments available. There is no annual fee and a zero dollar fraud liability with select promotional financing offers.

American First Finance

American First Finance is currently offering a 24-month lease payment plan with zero down for qualified applicants with up to $5,000 approvals. To get qualified, visit the company's website and fill out an online application.

Jack’s Warehouse

Jack’s Warehouse offers financing options with no credit check, so your numbers don’t matter here. You might also get qualified for payments without interest within the first 90 days. To use this company, you’ll need to show proof of income for six months and have a checking account open. They will ship furniture anywhere in the United States.

Bob’s Discount Furniture

Bob’s Discount Furniture allows you to make a monthly payment plan that works for you. They have a no-credit-check needed plan that gives you the change to build your credit by paying on time. This company requires you to go through a credit check and doesn’t allow for online purchases.

Okinus Lease-Purchase Financing

Okinus is another company that doesn’t require a credit check to obtain an approval of up to $5,000. To get started, you’ll need to fill out an application and receive approval before shopping.

Wells Fargo Furniture Financing

You can obtain a Gallery Furniture credit card through Wells Fargo that allows you to finance your furniture. As a customer, you’ll receive no annual fee, convenient monthly payments, and an open line of credit. New account holders can expect an APR for purchases of 28.99 percent.

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CreditNervana promises to keep our information as accurate and up-to-date as possible. However, you should always consult a financial advisor for specific questions about personal or business finances and investment opportunities, especially if you are looking in your area. Working with a trained professional who is familiar with your case is a safe and guaranteed way to make the best investment decision possible. Please review our terms and conditions before making any decision based on the information we provide. Financial institutions are constantly changing. Because of this, it’s a good idea to cross check the information you read here with any company you are considering working with.


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