Planning to propose to the love of your life? Nothing will work except the perfect diamond. Of course, it is going to be the biggest moment of your life and your soon to be partner so you’ll naturally go out of your way to secure the best diamonds money can buy and where else can you look for diamonds other than the world leader in diamond jewelry from James Allen.
How to Finance Diamonds at JamesAllen.com
James Allen is a well-known brand who produces the most attractive and best-looking diamonds in the world that is sure to impress your partner and make her say yes no matter what happens.
The James Allen diamonds are crafted by the world’s best diamond cutters with intricate details. But with as all diamonds, the James Allen diamonds can be expensive. For this reason, James Allen financing makes this investment much easier on the wallet so that it doesn't interfere with your long or short term cash balances.
In fact, anywhere you go you see a diamond you know it will cost a lot of money and sometimes it is just not possible to buy a diamond by spending all the cash you have on hand. It’ll probably leave a hole in your pocket that you may not be able to find that stability you have right now.
But does that mean spending this much money on a diamond is worth it?
Any amount of money you spend on a diamond is worth it, but if you are clever, you do not have to spend all that money altogether. There are various organizations that will lend you money but the problem still persists that they also ask a lot of money in return.
So if you want to buy a James Allen diamond and still don’t want to spend all of your money together, try the James Allen financing options. James Allen provides very attractive financing options that are not only easy to get but are also very generous and don’t make you pay a huge mark up in return.
All you need to do is pick a diamond from James Allen website. They make it very easy to buy diamonds online as they offer 360 degree views as well as all certifications right there, live in front of your face.
Once you find the perfect diamond, visit the financing options page and fill out their form. The form will require some important data about you to determine whether you qualify for James Allen financing or not.
Once you fill up the form and press the submit button, an email will come to you in a few hours letting you know if you are eligible. You can then buy your favorite diamond.
It's that simple. This is a very important decision in your life, and the ability to finance this special diamond is one that will make that important decision one that won't affect the way you live life.
For more information on my favorite online diamond store, read my James Allen Review and see just what sets them apart from the rest of the pack.
How To Finance An Engagement Ring
The best way to buy a diamond is by paying in cash. But we understand that you’ve already got a lot going on and may consider financing the ring instead so you can pop the big question sooner. If you’re considering financing a diamond ring, here are some best ways to finance it and avoid drowning in debt.
A diamond ring is probably the largest investment you’ll make in your life apart from buying a car and a home.
Although financing is a good option, it is best to save enough money and pay in cash for a simple diamond ring. This will help you avoid buying a ring that is far beyond your reach and will help you save from wasting money on paying interest later on.
An engagement ring is without any doubt one of the best gifts you can give to your soon-to-be but is it really worth it if you end up paying a large sum of money for the next five or ten years? It is really hard to resist buying an expensive ring thanks to clever marketing and product placement. But think about it, marriage will bring with it a lot more new expenses and if you are paying a large debt, your financial situation will likely get worse.
The traditional rule that a ring should cost two months' salary no longer makes sense in 2019. Although the average age at which people are getting married has changed, a lot of us are still paying off our student loans when the time to pop the question comes.
People fall in love regardless of their age and financial situation and it is okay to consider financing an engagement ring so you can pop the question sooner. If you are planning to buy an engagement ring and want financial help, here are some smart options to consider.
Financing from a Jewelry Store is Fine - But You Need to be Careful
A lot of jewelry stores offer 0 percent financing. While this sounds pretty good, watch out the strict terms that come with this kind of financing. You’ll be in a lot of trouble if you miss a payment or are unable to pay off the ring price before the store’s promotional APR offer expires.
Jewelry stores these days are offering many credit cards and other financing options. They make the financing offer look like an attractive offer. And they even train their salesmen to push you to go for the financing options instead of paying cash. Do you know why?
Although financing options from jewelry stores are very attractive, they have a limited time period. After the promotion expires, very high-interest rates are thrown at you. So basically, if you can’t pay off the full ring price before the promotion ends, be prepared to pay a lot more in interest rates.
A rule of thumb is to carefully read all the terms and conditions of a financing option before you sign any dotted lines. Here’s what you should look at.
What is the regular interest rate after the 0% financing promotion has ended?
What is the promotion? How long will it last? What are the conditions under which the promotional rate can be reversed?
Can you pay off the ring before the promotional offer expires?
Before going with any financing option, consider looking for more promotional APR offers with other jewelers. Most online diamond ring sellers have lucrative offers such as 50% off on engagement rings. Look for these offers and see which one is the best.
You can also use a loan payoff calculator on the internet to see how payments and interest rates affect the loan.
Using Credit Card to Purchase an Engagement Ring
Financing an engagement ring through a credit card is probably the worst way to go, but it is also one of the common ways people finance an engagement ring. This is because credit cards are easier to use and understand. They allow you to make a big purchase and then pay them off over a long period of time.
But here’s the catch - they’re insanely expensive.
Credit cards have higher interest rates than most other financing options. This is because they allow you to make very small minimum payments monthly. But that also means that the interest rate rises. So for example, if you decide to pay the full cost of the ring in five years, the interest rate will be bigger compared to paying off the full cost in two or three years.
This is why it is highly recommended that you pay the entire balance each and every month if you don’t want to welcome high-interest rates.
If you’re absolutely bent on buying an engagement ring through a credit card, then perhaps you should look for credit card promotions. There are many such promotions that allow new customers to get a 0 percent interest rate on new purchases for the first 12 months or more.
Some cards even give you a sign-up bonus if you spend a particular amount within the first three months of acquiring the card. So it makes sense to sign up with a card just before you buy an engagement ring.
But acquiring a credit card with such offers is also not an easy feat. Typically you will need to have a good credit score to qualify for such promotions. If you can get a card with a promotional APR offer, it may end up saving you a lot of trouble with your finances.
Save Even More When You Shop for Diamond Rings Online
As I mentioned earlier, there are many online jewelers that have lucrative offers such as 50% off on purchasing engagement rings. Look for these options on the internet and you are bound to find something to work with.
A word of advice though - do not shop with stores that have no reputation. If you’re not careful, you’ll end up with a mediocre ring. So always look for reputable engagement ring stores online.
An ideal online jeweler is someone who offers the following.
Return policy. A reputable jeweler will ask no questions when you want to return the engagement ring. A lot of stores even offer you free return shipping.
Shipment insurance. This is a no brainer. You need to work with an online diamond ring retailer who offers insurance on shipping. This way you can be sure that the package will reach you in optimum health.
What About Buying an Engagement Ring with a Personal Loan?
A personal loan can also be used to finance a diamond ring - but they are costlier than 0% APR options. If you can qualify for credit card 0% APR options, or similar financing options from jewelers, then it is best to avoid purchasing an engagement ring through a personal lown.
Financing a ring from your personal loan will add a significant amount of interest rate to the total cost of the ring. If you have a good credit score, there is no need to go for a personal loan when there are so many other attractive financing options available.
When you’re buying an engagement ring, do your best to not get carried away. Buy a ring that you can afford and pay cash if possible. After all, do you really want to go into debt before getting married?
Even if you go for a financing option, your first priority should be to pay off the ring before the APR promotion ends. This way you will save significantly.