#1
i want to buy the Ibanez RG1570 prestige but i dont have all the cash now.
it says for march they wont put interest on it till 15 months.
is the interest just gonna be ridicoulus?
is this a mess that i shoudlnt even deal with?
#2
Just make sure its paid off by the 15 months...then you don't worry about interest. I did it for my LP
#3
I'm assuming that the deal is 0% interest for 15 months right? That means that if you pay off the guitar within that time you don't pay any interest. However, if you don't pay it off, you'll be responsible for all the interest from the purchase date. Read the fine print on the deal and ask questions. Make sure you pay it off in the time allotted to avoid paying all that interest if that's the case.
#4
If you pay it off in that 15 months you're fine. But the APR is like 21% after that, and they make it retroactive from purchase date so you owe ALL the interest from that 15 months....so if you can't get it done in that time, be ready to balance transfer to a lower APR card before that last month. Like at month 13 just to make sure it clears in time.

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#5
Also, you said for March. I got some gear on that deal (and am already mostly paid off). You realize it's now May, right? Or are they doing another deal and you just meant to say May.

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#6
Basically, you get 15 months to pay it off before they add interest. If you DONT pay it off in the 15 months, they will make you pay the interest from the purchase date(and the default interest rate is 24.9%). It'll take 60 dollars a month to get it paid off in time, so if you cant afford that, then avoid the financing.
Last edited by Pyrofretnic at May 7, 2008,
#7
Quote by denabob
I'm assuming that the deal is 0% interest for 15 months right? That means that if you pay off the guitar within that time you don't pay any interest. However, if you don't pay it off, you'll be responsible for all the interest from the purchase date. Read the fine print on the deal and ask questions. Make sure you pay it off in the time allotted to avoid paying all that interest if that's the case.



He's spot on.

This is no different than Best Buy or any other major retailer. This is called "Same as Cash", meaning that you pay the $$ without interest for those 15 months. You HAVE to pay the entire balance off before your "promo" period expires or you will be hit with 15 months worth of accrued interest on the 16th statement. This could add up to a few hundred $ in interest on a Prestige over this time....(at about 19.99% interest).

Do not get into the habit of only paying the minimum each month, or you will have to foot the entire balance at the end or you run the risk of forgetting to pay. If you do not have a CC already, this is a good lesson in retail finance.

Also, you may have some leverage over the salesperson when you say you want to take advantage of the financing....or in some cases, they might BS you and tell you that they cannot move on the price because you are getting financing.
#8
Quote by Ljk825


Also, you may have some leverage over the salesperson when you say you want to take advantage of the financing....or in some cases, they might BS you and tell you that they cannot move on the price because you are getting financing.


GC has fixed pricing now, anyway. They were bought out by company that bought Toys R Us. They had a plan...expand really quickly and sell high...and they did it. But now we're stuck with ticket prices.

If you can get a guy to come down on a ticket price, you've found yourself a guy who really doesn't care anymore.

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