The best alternative is the “no interest if paid off in ‘x’ months” plan.
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The best alternative is the “no interest if paid off in ‘x’ months” plan. |
Yes, but....
If you are ONE DAY LATE on any one payment - you're screwed. They immediately recalculate the entire contract at the 21% rate and retro-actively assess the interest on your balance adding tens even hundreds of dollars to what you owe.
You gotta be carefull. I've taken advantage of the "no interest if paid ...." deals. But only by paying early, ahead of time, extra over and above the minimum, and paid off well before the final month.
“no interest if paid off in ‘x’ months”
Completely agree. Best alternative to paying cash.
But the folks that go the RTO route generally don’t have the cash, and probably do not have the credit to buy with deferred interest.