Purchasing diamonds from a leading diamond store may be a long-lost dream for many because, boy, oh boy! Look at those damn price tags. Not everybody can afford to pay thousands of dollars in one go. Even if you do pay all at once, you’ll most likely struggle with maintaining the cash flow for months.
But there ought to be a solution for that because everyone deserves to make their big days even more special with their dream diamonds. And gladly, James Allen offers a wonderful solution for this which we’ll discuss in detail.
Is James Allen Expensive?
James Allen is one of the top online diamond stores with the most captivating collection of diamond rings. Their diamonds are curated to perfection by a team of expert craftsmen and are tested for authenticity by diamond experts from around the world. This also means they’d be hella expensive.
If you can’t make the whole payment upfront, you need not worry. To counter this problem, James Allen offers an incredible financing option that allows its customers to make payments over a period of up to 24 months.
What is James Allen Financing?
James Allen offers quick financing with a buy now, pay later option. This means you don’t have to save up and wait for months before you can finally get your hands on the James Allen ring or any jewelry, for that matter.
However, there will definitely be some terms and conditions that you need to know before signing up for financing. It is surely a very wise decision but can lead to undesirable consequences if you don’t learn about the company’s terms beforehand.
Anyway, we’ll let you know everything that you need to know about James Allen Financing.
What Type Of Financing Is Offered By James Allen?
So James Allen offers two different types of financing programs varying on the basis of their time period as well as interest percentages.
6 Month Financing
This financing service can give you a favor of deferred interest. But there are certain conditions for that (not a surprise).
In order to avoid paying an excessive amount of interest by the end of the promotional period, you’ll have to pay the total amount of your purchase before the six-month period expires. Only then will your financing be eligible for a deferred interest.
If you fail to do so, you’ll have to pay the amount of interest in addition to the monthly payments at the end of the six months financing. The interest will be charged straight from the purchase date. The interest will be in accordance with the Standard Annual Percentage Rate.
What’s The Minimum Amount Of Purchase For This Type Of Financing?
You can benefit from this financing if you make a purchase worth $1000, at least. And you are bound to make monthly payments. You can’t escape those. However, if you want deferred interest, you’ll have to pay more than the minimum monthly payments so you can get rid of your debt before six months.
Lastly, for new James Allen accounts, the standard purchase APR is 29.99%. If you have an older account, you can check out the credit agreement for terms and conditions.
24 Month Financing
James Allen 24 monthly payments pay for your purchase over a period of two years. The standard interest 9.90% APR will be charged from the first day you’ll make your purchase long until the full payment is made.
For this type of financing, you need to have an approved LJC credit. Also, your account should have good standing and stable credit history before you can apply for such financing.
What’s The Minimum Purchase For 24 Month Financing?
Unlike the 6-month financing plan by James Allen that required a $1000 purchase, to attain a 24-monthly plan, you will have to make a purchase of at least $2000. Otherwise, you will not be eligible for this plan.
Your monthly payment will be based on the amount of your purchase, interest percentage, as well as the time period of your James Allen financing plan.
Can James Allen be trusted?
Well yes, in terms of jewelry or diamonds precisely, you can trust James Allen with your eyes closed. They manufacture excellent diamond rings and jewelry with certificates of authentication. James Allen is definitely a legit online store to shop for your diamond jewelry.
In addition, they are safe in terms of payments, so you don’t have to worry about your money either. So while you’re investing in diamonds, make sure to check James Allen out!
Well, we think James Allen financing has solved one of the biggest problems of its customers. Anyone who cannot pay a huge amount upfront should consider their financing without a second thought.
However, you do need to take into account their interest rates and monthly payment plans before you sign up. They don’t have any hidden terms and conditions. But if you have any concerns, you can reach out to their customer support service.
Lastly, we’d say that financing is definitely a life savior, but you shouldn’t really put yourself in a debt that would take half a lifetime for you to pay!
As a diamond and jewelry enthusiast, I love writing about gemstones and exploring the fascinating world of diamonds. After my own online search to find the best diamond engagement ring for my fiance, I decided to share my knowledge and started this blog. Hopefully, it will help you navigate the web to find your perfect diamond as well!