Typical Engagement Ring Financing

Financing an engagement ring is not necessarily bad if you know what you re doing.

Typical engagement ring financing.

While we at prosper may not be experts at finding the right engagement ring we can help you apply for a great rate on a jewelry loan to purchase it. Through us you may be able to slash your fees and charges by half compared to traditional engagement ring financing. The average engagement ring cost is hardly an easy expense. Average engagement ring cost.

If your eyes glaze over when it s time to talk wedding budget you re not alone. With those methods you should pay the ring off before the promotional period expires. But if a 0 percent financing offer isn t available to you a personal loan could be a better option for financing an engagement ring than putting the ring on a credit card at the double digit regular apr. This is our favorite option.

Even for the mathematically inclined it s difficult to know what kind of budget to set for an engagement ring. When you consider the fact that the average engagement ring costs 4 000 and the average household already owes more than 7 000 to credit card companies it s clear why many proposers opt to finance this significant expense. The good news is it s easier than you think. Open up a new credit card with a 0 apr promotion.

According to the knot 2019 jewelry and engagement study the average cost of an engagement ring is currently 5 900. Starting at 0 interest financing your engagement ring at gage diamonds can help to reduce the financial burden of buying an engagement ring. If anything is certain it s that diamonds remain a serious investment. Obviously using a personal loan to finance an engagement ring will tack on a considerable amount of interest to the total cost of your ring.

When financing an engagement ring taking out a personal loan should be your last resort.