If you don’t have the cash saved up to buy your next laptop or computer, computer financing in Canada can help. There are plenty of choices for laptop financing, including some low or 0% interest options.
In this guide, we outline the four types of laptop loans available to Canadians (including options for people with a bad credit score): In-store financing, using a personal loan, through the manufacturer or with a credit card.
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Electronics stores like Best Buy, The Source and Canada Computers & Electronics offer laptop or computer financing in Canada through their store credit card or a third-party lender. Probably the biggest perk of in-store financing is that it often comes with a 0% interest rate for a set amount of time, such as up to 12 months. These types of laptop loans allow you to spread out the cost of the laptop over several months instead of shouldering the full cost upfront.
The main downside of in-store computer financing is the high interest rate you’ll be charged when the 0% promotional period ends or if you miss a payment. If you don’t pay off your computer within that time or miss a payment, you could be charged over 30% interest.
When comparing in-store financing offers, be sure to check how long the promotional interest rate will last and ask about conditions and fees before you sign up.
| Store financing | Program details | Additional fees | Interest after promotion |
|---|---|---|---|
 Partnered with Affirm | Pay 10-30% APR over 3-48 months through Affirm | No hidden fees | N/A |
Staples Card through Flexiti | Pay no interest for 3, 6 or 12 months, and choose from deferred or equal monthly payments. If approved, you'll receive the Staples credit card, backed by Flexiti. | $0 – $59.99 administrative fee | 31.99% - 35.00% AIR |
 Best Buy financing through Fairstone | No interest for 3, 6, 12 or 18 months through Fairstone | $0 – $99.99 administrative fee | Unspecified |
 Partnered with Flexiti | Financing is available via Flexiti: No interest for 6 or 12 months | Up to $79.99 | 31.99% - 35.00% AIR |
Details last verified on March 13, 2024
A-Z list of store financing in Canada (home and electronics)
You can get laptop loans from banks, credit unions or online lenders. If you have good credit, banks and credit unions tend to offer some of the lowest interest rates. If you have a good relationship with your current bank, ask if they can give you a rate discount.
Online personal loan providers, like the ones in the table below, offer laptop loans for both bad credit and good credit borrowers. The interest rate you’re offered on a personal loan could range from 6.99% to as high as 35%, and will depend on factors like your credit history, income and financial situation.
To make comparing even easier, we came up with the Finder Score. Interest rates, fees and features across 40+ personal loans are all weighted and scaled to produce a score out of 10. The higher the score the better the loan—simple.
Although different lenders have their own unique eligibility criteria when it comes to personal loans for computer financing, the following typically applies:
You may be able to get laptop financing in Canada through the manufacturer of the laptop. Similar to electronics stores, the manufacturer may work with a third-party lender to provide laptop loans, offering 0% financing for a time period.
Unfortunately, many of the most popular laptop and computer brands in Canada do not offer financing or payment plan programs, including:
In the table below we’ve outlined some of the details on laptop manufacturers who do offer financing programs.
| Manufacturer | Laptop financing details | Popular computers & prices | |
|---|---|---|---|
 | Apple | 7.99% for 24 months via Affirm |
|
 | Samsung | From 0% interest for up to 36 months |
|
Details last verified March 13, 2024
You can buy a PC or laptop using a low interest credit card. Unfortunately, 0% APR credit cards don’t really exist in Canada unless they’re balance transfer cards.
Just be sure to pay down the amount quickly so you don’t get stuck paying too much interest (12% is a typical rate for a low interest card). Alternatively, you could use a rewards credit card to earn either cash back, points or miles on your purchase.
The process for computer financing in Canada depends on the type of financing you get:
If you go with 0% computer financing, be sure to pay off the loan in full within the loan term to avoid the high interest rate.
If you need laptop financing with bad credit, you could try financing through the store or manufacturer first, but keep in mind that 0% interest offers are subject to approved credit.
You could also get a personal loan from an online lender. Since online lenders often work with people with fair or bad credit, you may have higher chances of approval with them. But expect steep interest rates because lenders view borrowers with bad credit as higher risk.
Before taking on more debt, check that you can manage the monthly repayments. If it’s possible to hold off for at least six months, improve your credit score first.
Instead of immediately opting to finance a laptop, the better option will almost always be to save up for it instead. If you know you’ll need a new laptop within the next few months or years, start setting aside a little for it every month in a high-interest savings account. Think about it this way: If you can make room in your budget for payments on a laptop financing plan, you can make room beforehand to save up.
But sometimes the unexpected happens and you may have to get a laptop before you’ve had time to save up for it. In that case, it’s a good idea to get the lowest interest laptop financing plan you can qualify for. In-store financing tends to come with 0% options, which can essentially cost the same as if you had paid in cash.
If you do end up financing a laptop on a plan with interest, try to pay it off as quickly as you can to pay as little towards interest as possible.
Consider the following factors when comparing laptop loans:
There are a few situations you should watch out for when looking at laptop or computer financing in Canada:
Xie is starting university in the fall and needs a laptop. She has looked around at different models and brands and has decided on a $1,200 laptop. She needs her savings to cover other expenses, such as bills and groceries, so she wants to finance her computer to cover its full cost.
She decides to compare several options in laptops and financing to find the best solution for her. Below are the results of her comparison.
| Lender A | Lender B | Lender C | Lender D | |
|---|---|---|---|---|
| Amount borrowed | $1,200 | $1,200 | $1,200 | $1,200 |
| Interest rate | 7.99% | 0% | 11.99% | 0% |
| Loan term | 24 months | 24 months | 36 months | 12 months |
| Admin fee | $0 | $0 | $0 | $69.99 |
| Total interest | $102.41 | $0 | $234.65 | $0 |
| Total cost | $1,302.41 | $1,200 | $1,435.65 | $1,269.99 |
| Monthly payment | $54.27 | $50 | $39.85 | $105.83 |
Xie decides to go with Lender B to get her computer loan. She believes that $50 per month is manageable, and she likes that she doesn’t have to pay any interest or fees.
*The information in this example, including rates, fees and terms, is provided as a representative transaction. The actual cost of the product may vary depending on the retailer, the product specs and other factors.
Student laptop financing is not really any different from gaming computer financing in Canada. You still have to apply for a loan or credit card and pay the money back over time. The main difference comes down to what forms of financing you qualify for. For example, students can use part of their federal student loans to pay for a laptop while gamers won’t have this option.
Students may also be able to get access to special credit cards to help with student laptop financing. Those looking for gaming laptop financing in Canada may be better off applying for in-house financing with the store of their choice. Both students and gamers can also apply for secured or unsecured personal loans to help cover the costs of a computer or laptop.
Here are some of the commonly associated costs with buying a laptop:
There are plenty of options for laptop financing or computer financing in Canada. These include personal loans, credit cards and in-house financing. By exploring the different types of laptop financing available, you can find the one that best fits your unique set of needs and budget. You can also check out our list of the top sites to buy computers and tablets online when you’re ready to shop around.
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