Franklin Dean
Wedding dresses are expensive, and many people cannot afford to pay for them upfront. While it is possible to take out a loan or use a credit card to pay for a wedding dress, this can lead to unnecessary debt. A good credit score can help you access a variety of payment options, including loans with lower interest rates than credit cards. However, it is important to consider the potential financial burden of debt when deciding how to pay for a wedding dress. Some ways to save money on a wedding dress include shopping at online bridal sites, buying vintage, looking for samples or rentals, and wearing a family heirloom.
| Characteristics | Values |
|---|---|
| Cost of a wedding dress | Expensive, often $1000 or more |
| Payment methods | Cash, credit card, personal loan, store-specific payment plans |
| Credit card usage | Good credit may allow access to 0% APR offers, but credit card interest is high |
| Store policies | Vary, some require a deposit, some require full payment upfront |
| Saving money | Shop online, buy vintage or pre-owned, wear a family heirloom |
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What You'll Learn
Using a credit card to pay for a wedding dress
If you are early in the wedding planning process, consider a credit card with a rotating categories reward structure. These cards give you a small percentage of cash back on every purchase, usually 1%, and then increased cash back in different categories each quarter. If you need to spread out payments for big-ticket items like a wedding dress, a credit card with a 0% APR promotion can give you at least a year to make interest-free payments. However, you may not qualify for a high enough credit limit to put really big charges on the card, and once the no-interest promotional period ends, you will begin to owe interest on any remaining balance.
Another option is to apply for a new rewards card, as a wedding dress can make a great inaugural purchase. You can rack up points with your credit card very quickly, which can be useful for your honeymoon or a hefty post-wedding purchase. For example, you can use points for flights, hotel stays, or experiences during your honeymoon. However, be sure to take note of any expiration dates on points.
Many wedding vendors, including wedding dress designers, accept credit cards as a form of payment. However, some vendors may process credit card charges through third-party billing systems, and there may be a fee for paying with a credit card instead of a check or wire transfer. Additionally, payment options may depend on the vendor and your purchase amount, and a down payment may be required.
One benefit of using a credit card is that it can be easier to dispute charges and receive a refund if there is an issue with your purchase. However, you are unlikely to win a dispute case when the wedding professional has a solid contract that they have honoured in full.
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Payment plans and deposits
One common option is to pay a deposit first, typically ranging from 10% to 60% of the total cost. The remaining balance is then due when the dress arrives or at the first fitting. Some stores may also offer payment plans, allowing you to make installments over time. These plans may be interest-free or have varying APR rates, so be sure to read the fine print carefully.
Credit cards are another popular payment method for wedding dresses. Using a credit card can be advantageous if you have good credit and can take advantage of rewards programs or introductory 0% APR offers. However, it's important to consider the potential for high-interest charges if you're unable to pay off the balance promptly.
Personal loans are also an option for financing your wedding dress. These loans can offer lower interest rates than credit cards and provide a limited timeframe for repayment. Marriage loans, in particular, can provide funding ranging from $1,000 to $75,000, depending on your financial situation and credit score.
Additionally, some stores may offer special programs such as layaway plans, where you can put money down on the dress and then make regular payments over a specified period. It's always a good idea to discuss payment options directly with the boutique or store to understand their specific policies and find the best option for your dream dress.
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Buying a vintage wedding dress
While some people may choose to pay for their wedding dress upfront, others may opt for financing options. Good credit can provide you with a variety of ways to pay for your wedding dress, such as credit cards or personal loans. Using a credit card can be advantageous if you can take advantage of introductory 0% APR offers or rewards programs. Personal loans often have lower interest rates than credit cards and provide a set timeframe for repayment. However, it's important to be cautious and pay off as much of the debt as soon as possible to avoid accumulating long-term wedding debt.
Now, if you're looking for a vintage wedding dress, there are several options available. Firstly, you could wear a dress passed down from your mother or grandmother, imbuing your special day with sentimental value. However, restoring and altering a vintage dress can incur additional costs, so it's advisable to consult a wedding dress restoration specialist for an evaluation.
Alternatively, you can purchase a vintage dress from various online and in-store retailers. Here are some suggestions:
- Happy Isles: This L.A.-based shop offers vintage designer gowns from the 1950s to the 1990s, including pieces from Valentino and Oscar de la Renta. They also carry contemporary brands like Lilly Ashwell and Magnetic Midnight.
- Etsy: With a dedicated section for vintage gowns, Etsy offers a wide range of options, from bohemian '70s dresses to Art Deco-inspired 1930s gowns.
- Decades: Another L.A.-based gem, Decades was founded by style guru Cameron Silver and offers a selection of vintage white gowns for bridal celebrations.
- Adored Vintage: While their vintage wedding dress listings are limited, this resell platform offers unique and antique pre-worn styles sold directly by the brides themselves. Prices vary from $100 to $2,000, and you can see the original retail price to gauge your savings.
- Shareen Mitchell: Although not exclusively bridal, Shareen Mitchell designs modern wedding gowns infused with repurposed vintage clothing pieces, all priced under $2,000.
- Madly Vintage: Based in Venice, California, Madly Vintage is a fashion and bridalwear destination founded by Maddy Anderson. The brand's ethos blends "good vibes" with a playful style and "romantic nostalgia".
- Pre-owned marketplaces: Websites like Nearly Newlywed, Stillwhite, and eBay offer pre-owned wedding dresses, often at significant discounts. You can also sell your dress on these platforms after your wedding to recoup some of your expenses.
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Wedding loans
A wedding dress is expensive, but there are several ways to save money on it. You can shop at online bridal sites, go vintage, or look for samples or rentals. You can also save money by wearing a dress that belonged to your mother or grandmother, or by buying a pre-owned dress. Another option is to sell your dress after the wedding to recoup some of your money.
If you need financial assistance to purchase a wedding dress, there are a few options available. Some boutiques and shops allow you to make payments over time, with a deposit required upfront, ranging from 10% to 60% of the total cost. Credit cards can also be a smart move, as you can earn significant rewards, especially with a new rewards card or a 0% APR offer. However, it is important to pay off as much of the debt as soon as possible to avoid revolving wedding debt.
Personal loans are another option for financing a wedding dress. These often charge lower interest rates than credit cards and provide a limited timeframe for repayment. Wedding loans, in particular, are a type of unsecured personal loan that can be used to cover wedding expenses, including the wedding dress. These loans are issued in a lump sum and repaid with fixed interest rates through monthly installments. While wedding loans can help cover expenses, it is important to consider the potential burden of starting married life with debt.
Some specific options for wedding loans include LendingTree, which offers a dedicated loan consultant and a mobile app for loan management. LightStream is another option that does not require a long credit history and has easy income requirements. Prosper, a peer-to-peer lender, has easier eligibility requirements, but funding may take longer as it relies on individual investors. Upstart offers bad credit loans but may charge high origination fees and APRs. It is important to carefully consider the terms and conditions of each loan option before making a decision.
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The cost of alterations
While good credit can help you finance your wedding dress, it is not a requirement to purchase one. Many bridal shops offer payment plans or allow you to pay a deposit upfront and the remainder when the dress arrives. Some shops may even allow you to take the dress home before it is paid off.
The cost of wedding dress alterations can vary depending on several factors. Melissa Lennie, owner of Sew Creative Bridal, notes that wedding dress alterations cost more than basic alterations because of the following reasons:
- The type of alteration: More difficult constructions or details like beading can increase the cost. For example, the cost to hem a wedding dress usually ranges from $125 to $450.
- The complexity of the gown: The more complicated or custom the gown, the more expensive it will be to alter. For example, adjusting the neckline, adding a strap, or adding embellishments will increase the cost.
- The geographic area and cost of living: The price of alterations can also be impacted by where you live and the atelier's level of expertise.
- The number of alterations: The more alterations needed, the higher the cost will be.
Based on these factors, the average cost of wedding dress alterations is typically between $700 to $1000. However, prices can vary greatly, with some people paying as little as $90 or as much as $1200 for alterations. If you're customizing your gown or modernizing a vintage dress, expect to pay $1000 or more.
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Frequently asked questions
Good credit will give you more options to pay for your wedding dress, but it is not necessary. You can buy a wedding dress with cash, a credit card, or a loan.
Yes, you can use a credit card to buy a wedding dress. Many bridal shops accept credit cards, and some even offer their own credit cards. However, if you are unable to pay off the credit card bill in full each month, it may not be a good idea to put the dress on a credit card, as interest rates can be high.
Yes, you can take out a loan to buy a wedding dress. Wedding loans can offer financing from $1,000 to $75,000, and they often have better interest rates than credit cards. If you have a good credit score, you may be able to get a lower interest rate on a loan than on a credit card.
Yes, there are several ways to save money on a wedding dress. You can shop at online bridal sites, buy a vintage or pre-owned dress, or look for samples or rentals. You can also sell your dress after the wedding to recoup some of your costs.
A wedding dress contract is a legal document that outlines the details of your wedding dress purchase, including the designer, size, and arrival date. It is important to read the contract carefully and ensure that all information is correct before signing.
