Home > Tag Archives: 0% interest

Tag Archives: 0% interest

Should You Buy Using 0% Financing?

Should You Buy Using 0% Financing?

To some people, the idea of being able to get what they want now and pay for it later sounds great. The problem is that the bill eventually comes do and must be paid. So when you see those offers that promise you can buy now and pay later, should you take advantage of them? What about when it comes to 0% financing? In those cases, you aren’t really wasting any money on interest, as long as you follow the rules. But, before you sign on the dotted line for 0% financing, make sure you consider these things. 1. Know What You Are Getting Whether or not it is a good idea to take advantage of such offers as 0% financing depends on several things. For example, will you be in a financial position to pay off the balance in full before the payoff date? What happens if you have unexpected bills pop up that prevent you from being able to pay off the balance before the due date? You should know what you are getting into before you automatically accept such a method of financing for your purchases. What you are getting is basically a credit card. 2. Understand ...

Read More »

Buy Now Pay Later

buy no don't pay until 2015

I was driving to work last week listening to all the ads trying to convince shoppers to part with more of their money. One ad kept repeating that if you bought a car on Black Friday, you wouldn’t have to make a payment until next year. Car dealerships are not alone with the buy now, pay later philosophy. I’ve heard some stores offering 3-6 months or more of no payments after a purchase. It might sound like a good idea to save cash during the holiday season, but buying stuff with money you plan to have later is never a good idea. It’s A Trick The ad about no payment until next year was actually pretty funny. If you buy a car at the end of November through a finance plan, you wouldn’t have a payment until January anyway, so the gimmick is just that. There is no special deal. Don’t be fooled by cleverly worded advertisements! You Probably Have To Spend More At our office, we offer a plan called Care Credit. It’s basically like a healthcare credit card. I don’t advocate it, but it can make sense if you have a high dollar procedure and need to make ...

Read More »