If your home printer has ever died, you can probably relate to this. You’re in the middle of finishing off a project and you have no choice but to run down to the store and buy a new one.
But, wait – these things are kind of expensive – so you either buy an inexpensive model, get the one you really want and put it on your credit card, or you apply for special financing in-store. That last option sounds great, but as HP has found, about half the time, consumers applying for those finance deals get turned down.
To close this gap, HP is expanding financing options so consumers across all credit tiers can get the tech products that they need and with financing that they’re the most comfortable with. A good thing for the times when your printer dies or if you need to buy a new one so your kids have something to print on this coming school year.
“HP believes that everyone has the right to access the technology that powers our world,” said Deborah Baker, vice president and head of Global Payment Solutions at HP.
“We have teamed up with leading financial service providers to help empower the creators, the inventors, and the geniuses of tomorrow. Our new financing options give almost any US customer the financing power to purchase the technology they need to work, learn and play.”
The financing options and providers
HP has revealed the team of financial service providers it’s lined up to offer consumers the new financing option.
Private Label Credit Card and Buy Now, Pay Later
To begin with, Bread Financial will offer a private label credit card and, then, in 2024, offer buy now, pay later (BNPL) options in 2025. Customers will first prequalify with Bread Financial on HP.com for all financing options with minimal customer data required, the company said.
Non-Prime Access to Credit
Concora Credit is offering “non-prime” consumers – people who have a credit score between 601 and 660 – access to credit, too. With non-prime credit cards, customers can spread their payments over time to meet their budget needs. That option will be available sometime in August 2024.
Lease-to-Own
If you’re more comfortable with a lease-to-own arrangement or, possibly, you’re someone who may not qualify for a “traditional” loan, HP offers flexible payment options from Koalafi.
With a lease, customers can make fixed payment amounts over a maximum of 12 or 24 months and have the flexibility of paying off their lease early to lower financing costs. That plan is available now.
