Buy beds on finance

This article will discuss bed financing and help you decide if it is the best answer for you and your home.

What Exactly Are Financed Beds?

As technology and online shopping have taken over our purchasing patterns, financing has grown in favour in recent years.

Many businesses have emerged as short- and long-term loan providers, allowing merchants to provide items on credit without incurring financial risk. This allows consumers to buy high-value items without having to pay a large chunk of money all at once.

These lenders and credit providers base their lending criteria on a few factors, the most important of which is a person’s credit report, which reveals their history of paying bills on time and in full, as well as the amount of credit they have outstanding elsewhere.

So, when you apply for credit to purchase a product, the credit provider will request personal information about you and your address history, as well as your permission to check with credit reference bureaux such as Experian and Equifax to see if they can offer you credit for the products.

Once accepted, they will show you the payment schedule as well as the interest rate imposed on the purchase so you can decide whether or not to take up the credit arrangement. If you agree, you will continue to get the products as usual and will pay the amount each week/month until it is completely paid off.

What Is the Beds On Finance Process?

So, we’ve spoken on what beds on finance are, but how do they work? So, initially, you’ll shop around for the bed you want as usual, and once you’ve picked, you’ll inform the retailer that you’d like to pay through finance. Of course, you must first assess whether this is a possibility for you, but if it is, you can do so with numerous retailers both online and in-store.

Following that, the merchant will bring in their prefered credit agency to complete the appropriate checks to determine whether credit will be provided. This will include some basic personal information as well as information about your income and expenses, which will be used in conjunction with your credit file to reach a decision.

If they decide to provide you credit, they will give you an APR (Annual Percentage Rate), which is the amount of interest you will pay to the creditor. They will also provide you with a schedule describing the monthly or weekly payments over an agreed-upon duration, which is often between 1-4 years for a bed.

After you accept it, the bed sale will proceed as usual, with the credit lender paying the merchant and you, the consumer, paying the credit provider for the products according to the schedule.

The Financial Benefits of Televisions

Interest Rates at a Low

Other high-value purchases, such as televisions or jewellery, often have APRs of around 30%, depending on the provider. Beds, on the other hand, are typically subject to little to no interest because they are such a popular item to finance.

In fact, if you go to a bed vendor, you’re more likely to find the bed priced in monthly instalments than than a lump sum. Because of the low interest rates, you’ll pay almost nothing more than the cost of the bed, and your monthly payments will be manageable.

Purchase a New Bed Right Away

You’ll be surprised at how much a good bed can improve your lifestyle and health. Numerous studies have shown that a poor-quality bed reduces our efficiency, mood, metabolism, mental health, and a number of other characteristics.

There is no better way to obtain a bed when you don’t have the funds accessible right away if you need to improve your bed quickly. Given that a good bed costs around £1,000, it’s not surprising that few people are ready to pay for it all at once.

Money and credit management

Many individuals believe that simply not being in debt will result in a great credit score, but this is not the case. Credit scores are determined not by how much or how little credit you have, but by how well you manage your credit, which convinces lenders that you are less of a risk.

As a result, if you never take out credit, you will be unable to demonstrate your ability to make on-time and full payments. If, on the other hand, you have specific credit cards, loans, and shop credits that you manage properly, pay on time, and don’t cause any problems with, you’re demonstrating to others that you’re more than capable of managing money.

Using financing can benefit you when you require proof of good money management for things like mortgages and automobile purchases.

The Financial Disadvantages of Beds

Defaulted Payments

There are benefits to paying on time, but there are also drawbacks if you do not pay on time for any reason.

The unfortunate reality is that once you’ve entered into a credit arrangement, the lender doesn’t care what good reason you have for missing payments, and if they aren’t brought up to date promptly, it can have a bad impact on your credit score and possibly lead to legal action.

Insufficient Credit

You may not be able to finance a bed if you already have low credit, but if you are authorised for financing with a bad credit score, you may find that you are paying significantly higher APR than others on the same products.

Who Provides Bed Financing?

With the introduction of independent credit providers like ClearPay and Klarna, more businesses may now offer loans without incurring financial risks. However, because bed financing is so common in the market, it will be difficult to locate a bed vendor who does not provide some form of financing.

Even independent and small businesses can arrange some form of funding for you, even if it necessitates the use of third-party credit providers.

Is it possible to buy a bed on credit if I have bad credit?

It may be difficult to obtain credit with a low credit score or a blemished credit history. While financing products with bad credit is not impossible, it will reduce the number of lenders who will consider you, as well as increase the amount of interest you will pay with those lenders who would give you with financing to compensate for the risk you provide.

If you’ve had difficulties managing your credit in the past, it’s critical to analyse your financial situation before asking for further credit.

It is often advisable to invest your money on improving your credit score in order to open up better credit opportunities in the future, rather than taking out expensive loans.

If you’re looking for ways to improve your credit and don’t have any outstanding payments or responsibilities, sticking to your payment schedule and avoiding late or missed payments will eventually boost your score as you demonstrate your ability to manage your credit.

Considerations to Make Before Purchasing a Financed Bed


People occasionally make the mistake of buying a lower-quality bed in order to save money, whether upfront or through monthly payments.

The challenge here is the lifetime of the bed, since a lower-quality bed will need to be replaced much sooner than a high-quality bed, making your money go a lot further.


Before you commit to a large purchase that will last for years, such as a bed, you must be confident that you can afford the payments not only now, but also in the future.

If you do not make your payments on time, it will cause significant problems with your credit score in the future and, at worst, may result in legal action.

Do you require financial assistance?

You should think about whether you actually need the money just because you have the capacity to get it. If you have the option of purchasing the bed in full, it may be a wiser idea to do so, freeing up credit for when you need it later.

Some credit lenders may refuse to give extra credit once you have reached a certain amount, so don’t squander it on products for which you may not need cash.

A comfortable bed is one of the most important things you can have for your physical and mental health, not to mention how enjoyable it is to climb into your dream bed every night. Financing beds is a common method of paying for a reasonably priced item.

A bed may be purchased on credit practically anywhere, both in-store and online, with a choice of interest rates. However, if you have a good credit score and report, you might be able to get a room on credit with minimal, if any, interest.


Will financing a bed affect my credit score?

First and foremost, in order to finance a bed, the merchant or lender will need to conduct a credit check, which puts a mark on your file and can be damaging if too many are completed in a short period of time.

Second, financing a bed may have an impact on your credit score, either positively or negatively. Your credit score will rise if you make your payments on time and do not cause any problems for the lender; nevertheless, if you skip payments on a regular basis, your credit score will decrease.

Which brands offer the most flexible financing options for beds?

All merchants and brands will provide some form of financing for mattresses; however, the more established brands will typically offer better rates and financing alternatives. Dreams, Bensons, and The Bed Factory all offer fantastic deals with 0% APR for several months, and some periodically offer free add-ons with financed beds.

Can I finance additional bedroom furniture at the same time?

In addition to beds, most bed stores and retailers offer or finance a number of other items. Chairs, stools, wardrobes, couch beds, and a variety of other furnishings are included. If you’re already intending to buy a new bed, this could be a wonderful time to remodel the rest of your bedroom with new furniture and decor.

What sorts of beds are creditable?

Right today, there are a plethora of various beds on the market, with new technology revolutionising the sleeping experience. Here are a few popular bed designs:

Ottoman-style beds
These mattresses include a large compartment beneath the mattress that can be accessed easily by pushing the bed up completely powered by pistons. This is perfect for bedding, towels, seasonal items, and anything else that comes to mind.

Divan Mattresses
To maximise floor space, this bed is often supplied in two halves, with drawers beneath the bedroom for additional storage.

Beds with TVs
These beds certainly represent a technological leap ahead. They have a high-quality LCD screen in a housing at the foot of the bed that is controlled by a remote and emerges from its inclosure, ready for viewing.

Bunk beds
The classic kids’ favourite: two single beds placed on top of each other, with a staircase to the top. A lot of fun.