Quote:
Originally Posted by skeen
That's an interesting viewpoint, but could you elaborate further? You say nothing is free - are you therefore implying that the interest free credit isn't real? I'm sure many would attest that it is.
In addition, even if you had the money, wouldn't the interest free credit be the best option, given the interest you could earn on that money in a savings account?
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Well, the reality is that many finance companies BET that you won't comply with the terms of "interest free" and thus make a nice return on your failings. It's a win-win for them and the watch seller.
Cost of money is the cost of money. IF you can't get a discount and interest free is the only "discount" available, I see no reason not to take it. I did that with a US AD that didn't finance it, GE Financial did. At a 27% interest rate accrued from day one you can be sure I was never late, etc. Actually, after 8 months I just paid it off just to end the hassle of sending additional payments.