Est. Reading Time: 5 Mins
No matter where you go, shopping for furniture can be expensive. Maybe you’re looking for one piece in particular, or you’re starting your room from scratch and need to get essential furniture for your home.
Either way, shopping bills can get quite costly pretty quickly, leaving you in a situation where you may or may not be able to afford the things you want for your home.
When shopping for higher quality items, like La-Z-Boy furniture, the prices only get larger, which unfortunately leads people to not spend any money out of fear.
If only there was an option for customers to still spend their money but in a less stressful manner. But is there actually a way for this to happen? Well, if you’ve stumbled upon this article, you’re about to find out!
At La-Z-Boy Ottawa & Kingston, we have partnered with Flexiti Financing to allow customers to break down their expenses into smaller, manageable amounts.
But what exactly is Flexiti Financing, and how can it help you with your next La-Z-Boy purchase? This article will help outline what Flexiti has to offer when it comes to furniture financing at La-Z-Boy.
In This Article…
- What is Flexiti Financing
- How Does Flexiti Financing Work
- Benefits of Flexiti Financing
- Asking About Furniture Financing When Shopping
What is Flexiti Financing?
Before we begin, you might be unfamiliar with what this financing company is all about.
Flexiti Financing is a third-party financing service that allows customers to break down their expenses from a number of stores.
According to their website, their main mission is to support their customers by making their lives more affordable. While doing this, they also help boost the sales of partnered retailers, thanks to their “cutting edge” payment solutions.
Some of the main highlights of their service are quick and easy financial approvals online, as well as instant omnichannel financing, which allows customers to pay equal monthly payments or deferred plans in-store and online.
How Does Flexiti Financing Work at La-Z-Boy Ottawa & Kingston?
Now that you’re aware of Flexiti in general, how does this financing service work at La-Z-Boy Furniture Galleries?
Flexiti, like other third-party financing services, uses a Buy Now Pay Later method. The way it works is you buy your desired items now but then pay for them later with a pre-authorized set payment plan.
There are also deferred payment plans, which begin at the time of booking or 7-10 days prior to delivery.
Each payment plan is already set up with specific payment period dates and cannot be changed or negotiated. The following deferred and equal payment dates at La-Z-Boy are set up as follows:
|
Deferred Plans |
|
3 Months after delivery |
|
6 Months after delivery |
|
12 Months after delivery |
|
Equal Payment Plans |
|
12 Months (starts once delivery is booked) |
|
24 Months (starts once delivery is booked) |
It is important to note that the value of what you’re financing will determine the small increments you will be paying monthly. This does not include the admin fees that you pay initially or the deposit La-Z-Boy requires customers to pay.
Applying for Flexiti
These payment plans sound reasonable, right? But, how do you sign up for one? The only way you can be eligible for a financial plan with Flexiti is when you sign up for their service.
By applying online, you will be asked to fill out general information as well as financial information (personal income, housing information, occupation, yearly salary, etc.) These questions will help determine if you qualify for the service or not.
During your application, you will also be asked to sign up for Simply Secure™ Insurance, which is an additional service that can help with your payment in the event of an unforeseen circumstance. These events can be loss of employment, disability, or critical illness.
You can also apply for Flexiti in person at La-Z-Boy Ottawa and Kingston, with the help of a service representative. You can apply in-store, by providing your personal info and ID to help speed up the process.
Once the application is approved, you may add funds to your account and the transactions will begin once you’ve paid for the item in question.
Unfortunately, there may be times when someone does get denied this service, and this could be from a number of reasons like a poor credit score or insufficient funds.
The Payment Process
Furniture items available for financing at La-Z-Boy can be those up for immediate delivery, or custom orders that have to be delivered at a later time.
Once signed up for the service, however, the terms of the payment plan only start going into effect 7-10 days before the delivery date. This means if you’re waiting on a furniture item, you will not start paying for it until it is booked for delivery.
Once booked for delivery, this is when your payment plan starts. Whether it is a deferred plan or an equal payment plan, funds will be taken from your Flexiti account and you must pay them before the next payment cycle. Customers have up to 25 days to pay their immediate balance.
Should the customer not pay their specified amount after the allotted time, interest will incur within their accounts.
Customers also have to be aware of admin fees and tax deposits when paying with Flexiti Financing. Depending on the plan chosen, La-Z-Boy will ask customers to pay an admin fee and a furniture deposit on their furniture bill, to help pay for their services.
Admin fees are dependent on the chosen plan, while deposits are determined by the tax value of the furniture item.
What About Refunds?
So, you’re mid-way through your financial plan with Flexiti, but you realize there’s something wrong with your furniture item or you’re not satisfied with the service. Is there a way to refund your purchase through Flexiti?
With some online services, refunds can be almost impossible to find. But, with Flexiti, you can! As with any refund, La-Z-Boy will send the money back to the original sender using their credit card information.
This refund can either be done through Flexiti, or La-Z-Boy can process the refund through Flexiti for you if you’ve come in-store to request one. The refund process is normally quick and takes no more than a couple of days.
Quebec Residents
Furniture financing works a little bit differently when it comes to Quebec residents that shop at La-Z-Boy Ottawa and Kingston. Although they may have the same plans, there are a couple of minor changes to the terms and conditions.
One of the differences includes a small monthly charge to clients with deferred payment plans. Quebec residents must pay a minimum payment of 5% of the outstanding balance up until the end of their payment plan. This is a requirement for Quebec residents on all deferred payment plans, even those outside of Flexiti.
Quebec residents also will not get charged a Flexiti admin fee. However, they will still be charged a La-Z-Boy admin fee, since our policy doesn't change for out-of-province residents. Customers are also advised to refer to their pricing agreements to see if they will be charged an additional annual fee, which is dependent on the type of plan they choose.
The Benefits of Flexiti Financing: Is it Right For You?
Referring to what Flexiti has to offer, there are many benefits to the service. Here are some factors to consider if you’re interested in Flexiti Financing.
Spend Less Initially
One of the benefits is the ability to spend less in the beginning stages of your buying process. At La-Z-Boy, we are aware that our prices can be considered expensive to a lot of people, which is why we want our customers to be aware of Flexiti and its equal and deferred payment plans.
With the plans picked out by Flexiti, you’re able to pick one that works best for you and save your money without spending it all in one go.
While you are spending less initially, it is important to consider your financial situation before applying for a Flexiti account.
Will you have enough money to pay for your expenses later down the road? Do you think there will be a time when you won’t be able to pay? These are questions you should be asking yourself if you decide to go with Flexiti Financing.
Works with Other Stores
La-Z-Boy isn’t the only place that Flexiti is partnered with. Once you create your online account, you’re able to browse over 8,000 retailers. And with their omnichannel financing, you’re able to either visit these stores in-person or shop with Flexiti online.
Stores partnered with Flexiti range from various expensive services, like furniture, electronics, jewellery, fitness, etc.
Even though Flexiti’s stores are all approved and recognized as legit institutions, it is always important to remember that credit card information is sensitive and fraudulent payments are on the rise.
That’s why you might want to stick to websites you’re familiar with, to ensure you do not end up as a victim of credit card fraud.
To learn more about Shopping Online vs Shopping In-Store, take a look at this article.
Asking About Flexiti Financing at La-Z-Boy
Asking about Flexiti Financing at La-Z-Boy is as easy as going to our Financing page on our website, or speaking to a salesperson. Our design consultants always greet customers upon entering the store. So, if you see a friendly face greeting you, you might want to ask them about their financing options.
After completing the application, our design consultants will be delighted to discuss the various furniture financing options available and guide you through the process. Our dedicated service representatives are also available to assist you with this information.
If you don't have an account with Flexiti, our representatives will gladly guide you through the application process. Additionally, if you're unsure about how to make payments with Flexiti, you can request La-Z-Boy to process the payment on your behalf.
You still have the option to pay by cash or debit card, and La-Z-Boy can add the funds to your account and take care of the remaining balance for you.
What's Next?
Flexiti Financing may sound a little daunting to those not familiar with online payment plans or financing options, but rest assured, it is a safe and easy tool that millions of people use every day.
If you still would like to learn more about Furniture Financing and What to Expect, take a look at this article.
Now that you feel a little more acquainted with Flexiti and its services, why not sign up today? Getting approved is easy and can be done with the click of a button!
You may also be interested in using the service at any of our local La-Z-Boy Ottawa & Kingston locations. Check us out online or book an appointment online before coming in.
You can also learn more about our best-selling products by checking these articles below:
- Best Selling Sofas at La-Z-Boy
- Best Selling Sectionals at La-Z-Boy
- Best Selling Recliners at La-Z-Boy
Our design consultants are always eager to lend a helping hand. Take advantage of our interior design services to see how our furniture can fit in your home.
Related Articles: