If you have bad credit and are trying to finance a tanning bed, you have probably been turned down before. Eventually, you will probably find someone who is willing to work with you, but beware! Predatory lending on luxury items such as tanning beds is common. Here’s how you can protect yourself and still end up with the tanning bed of your dreams. First, realize that financing may not be your best option, especially if you have bad credit. Tanning beds typically cost anywhere from $1500 to $3000 or more, but you CAN find beds – new and used – for as little as $1000 (or less, if you find a really sweet deal). If the tanning bed you want costs $2000 and you finance, the final cost to you could be almost twice as much. Remember, people with bad credit tend to pay very high interest rates, and yours could be over 25 percent. Can you afford to put back $20, $30, or even $50 a month for a few months? If so, you can save enough to buy a used tanning bed in no time. Also, beware of low interest rates offered to people with bad credit. This is usually a trap, because there is usually a clause that allows the lender to jack your interest rate sky high if you are even one day late on your payment. Or, you might form a tanning group of your own. Ask your friends who like to tan if they want to chip in on a tanning bed with you. Work out a fair deal and get the agreement in writing, and you and your friends can say goodbye to the hassles of tanning salons for good. Timothy Gorman is a successful Webmaster and publisher of Tanning-Bed-Solutions.com. He provides more tanning bed information on tanning bed bulbs, tanning bed lotions and home tanning bed information that you can research in your pajamas on his website.
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