Engagement Ring Financing and Layaway – Make the Right Choice

You want to get your future fiance a beautiful engagement ring but don’t want to burn through your savings. What’s the solution to your problem? Engagement ring financing!

An engagement ring is (almost) a once-in-a-lifetime purchase and it makes perfect sense to finance it. There are multiple options to finance your engagement ring purchase even at 0% Interest.  Read this article to learn more and make an educated decision.

At Brillianteers, we offer three financing options to help lighten the load of your big purchase. You may be wondering “Why three financing options?” Each option is different and we want you to choose what’s best for you.

In this article, we will explain the different methods of financing diamond jewelry.

If You are in No Rush – Put the Ring on Layaway

You’ve seen the ring you want on sale or you’ve seen a unique one-of-a-kind diamond you desperately want. The problem is, you can’t pay for it right now but you only need it in 6-12 months, great! 
Our layaway plan will be a perfect fit, you only pay a small deposit now, make monthly payments, the ring is reserved for you, and your price is locked.  Once the ring is paid in full you get it right away.

Who Brillianteers Layaway is for:

• If there’s a specific ring that you want to buy at its current sale price, but can’t afford the full payment yet.
• If you’ve found a specific diamond you love and want to make sure that diamond is kept for you without paying for it in full.
• If you are planning your proposal months in the future and are in no rush to receive the ring right away.

How Brillianteers Layaway works:

1. Choose the Layaway option upon checkout
2. Pay a 15% non-refundable deposit. One of our staff members will contact you and send over an invoice for the deposit.
3. You choose how frequent and what amounts to pay per month, at your convenience.
4. You will be given the choice of paying through Paypal or by using your Credit Card
5. As soon as you have completed your payments, we will ship the rings to you

With the Brillianteers layaway plan, we will have your ring made and stored right after you make the first deposit. We will keep this safe for you and ready to be shipped as soon as you have completed your payments. 

If You Want to Receive the Ring Immediately: Financing with 0% Interest

If you’re looking for an engagement ring financing plan that will allow you to shop for a diamond ring now, and pay the balance later or in installments, at Brillianteers we offer two options starting at 0% interest. 

Bread: Buy Now Pay Later (no credit card required)

Bread is a way for you to buy diamond jewelry immediately and pay for it later. You can be approved for amounts of $1000 and up to $5000 and pay in up to 24 months starting at 0% APR.

Who Bread is for:

• If you want to buy your ring now and pay later
• If you don’t have a credit card to use
• If you do have a credit card but not enough balance
• If you don’t want your credit score to be affected by a credit check which is required for most loans.

How Bread works:

1. Apply for Bread financing on every product page on our website or on our Financing page. 
2. Bread will do a soft credit check that does not affect your credit score
3. You will instantly be displayed the amount that you are qualified for
4. You will be given the option to pay in 6 monthly installments with a 0% APR. Above 6 monthly installments, you will be charged a monthly interest that’s determined by an evaluation of your credit score, the amount you’ll purchase, and the monthly installments.
5. As soon as you are authorized for financing by Bread, you can purchase at Brillianteers.com

This choice is best if you want to have your item immediately after shopping online. It’s a trusted buy now, pay later option for many online shoppers. And it does not affect your credit score. 

Split-it: Up to 12 Credit Card Payments with 0% Interest

If you’re looking to divide your purchase into up to 12 installments on your credit card. Split-it is the best option for you.

Who Split-it is for:

• If you have a US-based credit card
• If you have enough available balance on your card in the full value of the order.
• If you want to split your purchase to 3-12 monthly installments.
• If you are looking for a 0% interest rate financing option

How Split-it works: 

1. Checkout and choose Split-it as your payment option
2. Choose between 2 to 12 monthly installments
3. Provide your credit card information
4. You are able to finance an amount that’s less or equivalent to your credit limit. If you have a credit limit of $30,000, you can finance a ring worth $30,000.
5. Your card will be charged with the first monthly payment but pre-authorized for the full balance. 

How Split-it works for a $2,000 purchase:

Split-it uses an authorization as a security method against future installments, but only charges $200 per month on your card.

With split-it, you can benefit from using your credit card, not paying any interest, splitting this unique purchase, and getting your ring right away. 

Engagement Ring Financing Questions You Need to Know About

Most of our customers who are seeking to use engagement ring financing as their payment option when shopping for engagement rings, ask specific questions that you’ll most likely want answers to as well. Here’s a breakdown of all the common financing questions that you need to know more about.

Is there a minimum amount to spend to have your ring financed?

With Brillianteers, you don’t have to worry about a minimum amount to be able to use any of our three financing options. 

Can I get a refund if I change my mind about my purchase?

We have a 30-day money-back guarantee if you do happen to change your mind. This applies to all of our payment plans. Keep in mind that our Brillianteers Layaway plan has a 15% non-refundable deposit upon purchase. 

Who can I talk to about engagement ring financing?

You can simply chat with one of our experts available here at our website. You’ll see a chat window that will connect you directly to one of our representatives. We are available to chat any time of the day, 7 days a week, for your convenience. 

Can I pay my balance off earlier and is there a penalty?

Yes, if you do want to pay it off earlier than your initial staggered payment plan, you can. There’s no penalty if you do. 

Can I use two cards for the payments?

If one card can’t cover the total amount of the ring that you are trying to purchase, you can use two cards. 

Conclusion

The weight of buying an expensive diamond ring shouldn’t be a problem. We have found three effective ways to help you purchase your dream ring, with our engagement ring financing. Go engagement ring shopping at Brillianteers and choose from all of our affordable engagement ring options. There’s no limit to what you can buy with our payment plans.