Should I Buy a New Roof on Credit?


Roofs can be pricey. Some options are pricier than others. For example, metal roofs can be twice as much as shingles. Clay roofs may be even more. How are you going to pay for such a project? If you don’t have the cash on hand, you are likely looking at some financing options.

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Credit card companies offer alluring benefits such as cash back. This is especially popular amongst small business who get special business credit cards. However, should you really be using a credit card to finance a roof? do you take a loan out instead?

The answer may be different based on your scenario. It is always better to save up and pay for things in cash in order to avoid paying extra as interest. However, this is likely only a choice if your current roof is in perfectly fine condition and you are simply looking for an upgrade. Chances are, you currently have a roof that has had a history of leaks and other issues. In this case, getting a new roof soon may be important. This would be the case when you consider a finance option. However, just make sure you update your budget and have a plan to pay off the interest as soon as humanly possible.


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