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Split your purchase into simple monthly payments with an APR starting at 4.95%.

What is Jewelry Financing?

Dec 27th 2021

We know you’re eyeing that engagement ring and have been feverishly checking your bank account to see when you can afford it. When are you just going to go for it? With financing options, you don’t need to pay the full amount right now.

Not sure what all of this means? We’re here to help! Brush up on the world of jewelry financing and how you can have that gorgeous piece today!

What is Financing?

“Financing” might sound like an intimidating term, but it simply means that you can buy now and pay later. Yep! You can bring your beautiful necklace or ring home today and only pay a portion of the total cost. The remaining balance is then split into more manageable, future payments.

Several financing options are available, but you should be careful when choosing a plan – they can include hidden terms and fees! Some jewelers offer 0% interest if you pay for your piece in full within six or 12 months. But even though you’re not paying that interest, it’s still collecting in the background. If you miss a payment at any point or can’t complete your payments within the given timeframe, you’ll have to pay interest from the day you made your purchase. Ouch!

You might also see low-interest plans as another common financing option. With this type of offer, you’d pay a reduced interest rate (typically around 8-10%) along with your monthly payment. You usually have a longer timeframe to pay for your piece in full, but your interest rate will skyrocket if you miss a payment or the deadline to complete all payments.

You should also be aware of hidden fees that come with some of these plans, such as late fees for skipping payments. And if your bank account has insufficient funds, you could be responsible for a returned payment fee. Uh oh!

Finance with LendFirm

Our financing terms are super simple and straightforward. Through our financing partner, LendFirm, we offer financing as low as 4.95% for 12 or 24 months on all grace von jewelry. No hidden fees, penalties, tricks or gimmicks. You can even shop with less than stellar credit!

Sound too good to be true? Wait, it gets better! To apply, simply provide a valid driver’s license or state ID; record of a direct deposit from your primary employer or benefit provider into a three-month-old checking account; and proof of a checking account in good standing. You can be approved in 24 hours!

Plus, we link to your checking account and align your jewelry payment plan with your employer’s pay schedule. If you get paid on the first and 15th every month, we’ll schedule your jewelry payments on those days too, so you’ll always have sufficient funds to meet your payment timeline.