Allegro

[tracey-kjonegaard]

I’ve read a little bit on here about using Allegro to finance harp purchases but I recall reading someones disappointing story about being turned down for a few reasons. I’m wondering if a lot of people have had good experiences with this company? Did it seem hard to be approved by them? Or does anyone have any insight to offer?

[jimmy-h]

I’ll tell you once I find out the hard way.

[Allison Stevick]

I had no problems with them. It was an easy enough process, and I also liked that there is no penalty for paying off early.

[tracey-kjonegaard]

Jimmy- lol I’m assuming this means you’re in the process of applying through them?
Allison- thanks for your input! I think the only thing I could really find about them was a sort of “horror story” so its nice to hear some good input lol

Are there any other companies like Allegro Acceptance that I should look into? I know L&H only accepts their financing and being that I’m in Chicago, I’ve been more specifically looking into L&H harps. However, I am making a trip to CA in a couple weeks and while I’m there I’ll be going into Salvi as I’ve never played a Salvi before. Not sure if they’re specific about financing but if not, is there anywhere else I should look or other options I might be missing?

Thanks!

[kreig-kitts]

I’d assume it’s not much more difficult than qualifying to buy a new car, but perhaps a bit more, since there are established procedures for registering car titles and electronic registration, so it’s a better asset to secure with a lien. At any rate, it comes down mostly to your credit rating, including income you can prove and debts you already owe and your history of paying them off. Since everybody’s credit history is different, it would be hard to say how well it will go with another person. If you don’t know your credit history, you can get your credit report for free. A lot of sites you’ll find it you search the internet for “free credit report” are for services that give you a free report but in the process sign you up for a monitoring service you have to pay for. @http://www.consumer.ftc.gov/articles/0155-free-credit-reports has information on where to get a free report without the strings.

[tracey-kjonegaard]

Thank you so much for the info Kreig!

[tracey-kjonegaard]

Hi everyone,

I’m getting closer to actually financing my own harp and I figured I would ask a few more questions on here. I think theres probably only so much that L&H can tell me when it comes to getting financed.

Anyway, I’ve never financed anything myself before so I don’t know a lot about the whole process and how it works (so forgive me if some of these questions are dumb or seemingly obvious)

Does the amount that you’re financing determine the loan term they would be willing to approve you for? I’m wanting to finance a lever harp but I wanted to go for a little bit longer of a loan term (despite the interest rates) in order to have a lower payment now. Someone else on here said that there isn’t a penalty for paying off early, which I plan on doing, but the only way I can make this happen right now is if I have a lower payment w/ the option to pay more later/pay off early. I would imagine they would be willing to do this, considering they’d be charging a higher interest rate…I don’t know, I figured I would ask though.

Also, does anyone have experience applying w/ a cosigner? I’m not sure if there is anything additional I need to know (like any additional fee for applying w/ cosigner etc…) because I plan on doing this.

I guess the last question I can think of now is how long the whole process takes? Do you get approved/denied within the same day or is it something I’ll have to wait a week or two to find out?

Thanks for any/all of the advice!!

Tracey

[Allison Stevick]

As Krieg mentioned above, some of these factors will vary person-to-person, so I can’t say for sure how it will go for you.

They do say on their website that long terms are available and options are flexible. Of course, that’s kind of vague (it kind of has to be, since it’s different for each customer) but seems promising.

I faxed in my info and got approval from Allegro the same day. Within an hour, I think. They are very fast.

Good luck! How exciting to be nearer to getting a new harp!

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