Investigate Your Jewelry Financing Options at Jamesallen.com

When buying jewelry, there is a really high chance that you won’t be able to pay in cash. But, wait, I stand corrected. You might be filthy rich. In that case, I don’t even know what you are doing here. Go buy yourself a yacht or something.

However, if you are not filthy rich, then you will need to find some alternatives. Lucky for you, I have found some financing options at jamesallen.com and today I am going to tell you all about it. Keep in mind that these are the most common options you can find out there. So, investigating these means that you are getting acquainted with the usual financing choices. However, they can still differ from store to store and that’s something to remember.

Before going any further, you need to understand that buying great pieces of jewelry does come at a cost. The better quality you want to get, the more it is going to cost. I’m talking thousands here. But, since you are doing research and checking how you can pay for this, I am guessing you are aware of the prices.

Now, let us get started. You will learn about the different ways of making your purchase easier. After you have done that, you can proceed to the next step. And the next step is to pick your perfect bracelet, ring, or necklace, or whatever you want and enjoy your shopping without any worries about whether you will be able to pay for it.

What Is Deferred Interest Financing?

Investigate Your Jewelry Financing Options at Jamesallen.com
Investigate Your Jewelry Financing Options at Jamesallen.com

One of the offered options is deferred interest financing. It is a rather suitable option when you don’t have the money to pay right away, but you think that you will be able to do so within a couple of months. This is not uncommon. You might be expecting an increase in the volume of your work, or an inheritance, or something. Read this.

Fundamentally, this is when you get a loan without any obligation to pay an interest rate for a certain period of time. Note: not forever! The jewelry store offers this marvelous possibility, but that doesn’t mean that you will be safe from interest for good. Nor does it mean that the rate will only start being calculated once the period has expired.

Also Read: Plain Gold Jewellery As A Money Investment – Why It’s Profitable

Let me make this clear. When you see the phrase “deferred interest financing”, it is usually followed by “if paid within 6 months”, or another number. Therefore, if you settle the debt within the designated period – congratulations, you are free from interest. But, if you don’t pay the full amount, the interest is backdated and charged on the entire balance.

Investigate Your Jewelry Financing Options at Jamesallen.com
Investigate Your Jewelry Financing Options at Jamesallen.com

As I have already said, this is a pretty convenient option if you think that you will be able to pay off the entire debt in time. And even if you don’t, you should check out the rate and see if this feels like a suitable choice for you. The key is to neither dismiss it, nor accept it, before you get properly informed at the shop.

Investigate Your Jewelry Financing Options at Jamesallen.com
Investigate Your Jewelry Financing Options at Jamesallen.com

9.90% APR with 24 Monthly Payments Explained

In order to understand what this means, you need to get familiar with the term annual percentage rate (APR). You have to learn what it is and what it exactly tells you about a specific loan. In order to make this clear, we will take the above mentioned rate as an example.

Learn what APR is: https://www.thebalance.com/what-does-apr-mean-315004

The annual percentage rate is not the same as the interest rate. APR tells you exactly how much your loan will cost in one year. With the aim of explaining this, I will have to do some math. But, don’t worry, it won’t be that complicated.

Let’s say you borrow $1000 at a 9.90% APR. That means that your interest in a year will accumulate to $99. However, you need to take into account that some other transactions, charges and fees can affect the overall monthly payment amount. Plus, the minimum purchase amount can be slightly higher than $1000.

Therefore, when going for either one of these two options, you need to be careful and take everything into consideration. Starting with what exactly you wish to buy… Once you have determined that, you can make a cost-effective choice.

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