1) Finance My Engagement Ring
Finding the perfect ring is stressful enough, let alone worrying about how to pay for your engagement ring. That’s why we’ve partnered with Promise Financial. To offer you a stress free, no hassle way to get financing for your engagement ring.
Promise Financial is the first consumer lending platform focused exclusively on weddings, and is dedicated to improving the way you pay for your wedding and/or engagement. Wedding loans through Promise Financial is an unsecured personal loan allowing you to pay for your wedding over time, with a convenient online process and low rates.
Financing your engagement ring is quick and simple.
- Check Your Rate – Our online process delivers a personalized offer in minutes and uses state-of-the-art security to encrypt and protect your information.
- Review & Accept – Loan terms are clearly presented for your review and you can accept your loan offer online by signing electronically.
- Funds Deposited – Your loan is deposited directly into your bank account 2 to 3 business days after you submit all required documentation, and you pay wedding expenses directly.
- Loan Repayment – You’ll repay your loan in equal monthly installments over 36 months with automatic payments from your bank account.
2) Engagement Ring Layaway Plan
Perhaps you won’t be proposing for a little bit, and / or traditional financing isn’t an option; may we suggest using our layaway plan. If you’re wondering “Why wouldn’t I just save the money and then purchase the engagement ring instead of setting up a layaway plan?” We would answer that the sole purpose of a layaway plan is to freeze the price.
With the price of gold and diamonds going up all the time (more frequently than you might think) prices on our site can change in dramatic ways overnight. When you set up a layaway plan the price will NOT change on you.
Here are the basics of our lay-away plan.
- 25% downpayment is required.
- 180 days is the maximum we can allow an item to be on layaway.
- Pay anytime you want in the 180 days in any increment that’s fits your budget.
- There will be no interest charges, and no price increase during the 6 months.
- Our guaranteed 30 day money back return policy applies to you, as well, when you receive your ring.
- There are no application fees, no credit checks.
- Loose diamonds can not be placed on layaway. Only the engagement ring itself can be.
- We can be pretty flexible on your individual needs. Just give us a call, and talk to us.
Some Helpful Advice
Alternatives to financing a diamond engagement ring.
Although we are glad to sell our engagement settings and they are affordable, we always want our customers to make the smartest choice for their individual situation, first and foremost.
- Consider asking Family or Friends for an interest free loan, or low interest loan. Often the easiest and most overlooked option. You never know unless you ask.
- Purchase an engagement ring with an interest free lay-away plan. What’s great about a lay-away plan is it locks in the price. Whereas, if you just saved your money at home before purchasing you run the risk of the price going up. So this is a great option when you see a sale.
Money Saving Tips
- Everyone wants to go big if they can, but it’s not always feasible. If you’re looking for a 1 carat diamond and it’s out of your price range, don’t settle by getting a worse clarity or color. You’ll be extremely disappointed. Instead look for a .90 carat diamond. If you’re looking for a 2 carat, then go for a 1.8 or 1.9ct. diamond. Most of the time you can’t tell the difference in size and when you stay below “whole numbers” such as 1ct, or 2ct., for example, you can save hundreds, even thousands in some cases.
- Consider buying a smaller (less expensive diamond) until you can afford to upgrade at a later date.
- Save a little longer before making the purchase in order to finance less.
- Some people don’t like the idea of a lay-away plan. If that’s the case try and save a little more. Loans and credit cards, depending on your interest rate can actually cause you to pay double, even triple what the ring costed in the first place.The less you finance the better.
- Consider buying a plain wedding band with small diamonds or no diamonds at all.
- As we all know, diamonds can get expensive. The more you have, the more the ring is worth. This is getting back to the “upgrade later” idea we proposed earlier. You can always upgrade when you have more money. But why break the bank and put yourself in a financial crisis if you don’t have to.
- Purchase a wedding band made from alternative metals instead of Gold or Platinum. Many wedding bands are made from very durable metals like Tungsten, Cobalt or stainless steel and cost significantly less than a “traditional diamond engagement ring”.
- Consider purchasing an engagement ring with semi-precious gemstones instead of diamonds. Especially your bride’s birthstone. This is done more often than you think, and will really bring down the cost of your engagement ring.
Outside of our Layaway Program, BloomingBeautyRing.com does not offer engagement ring financing or diamond financing of any kind. Unsecured financing is done entirely through our partner; Promise Financial. We make no warranties expressed or implied. Please remember to never borrow more than you can afford to pay back comfortably.