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Question DetailsAsked on 8/22/2017

is there any roofer who accept monthy payment to fix my roof?

is there any roofer who accept monthy payment to fix my roof?

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Here is a prior similar question with answer FYI:


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A very rare few (more so if they routinely do work for you) MAY agree to split the bill, with the second half due within a few days after your next payday for instance. Not many do that, because they are not in the project financing business, plus such an arrangement automaticlaly indicates the homeowner is more or less operating hand-to-mouth, so the security of the debt is poor.


Some few vendors who do repairs (more flooring vendors) like that have arrangements with consumer finance companies, who you take out a loan with for the cost of the work, they pay the vendor, then you pay the finance company. Many have really good terms up front, but if you miss a payment by 1 minute it reverts to very high interest rate for the entire loan - much like a bait and switch but after the fact, so be careful what you are signing.


Other alternatives - of oucrse if you are sure you will be able to pay it off before your next credit card statement, putting on a credit card if they take credit cards.


Otherwise, in rough order of cheapest to highest cost loan sources for home improvements/repairs: home equity loan (though takes much longer and generally only viable for major repairs/remodels), credit unions, commercial banks, commercial consumer lenders like Synchrony (prev GE Consumer Finance) or insurance company consumer lenders.

Answered 1 year ago by LCD




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