Toymods Car Club Inc: General Car Talk => Need info on interest free deals

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biased99
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Registered:
May 2002

Re: Need info on interest free deals

Tue, 21 October 2003 00:12

NickAE86 wrote on Mon, 20 October 2003 16:59

Not the case...each item is an individual promo, if you payout early you wont accrue the unused time your simply just saving yourself money. Its only interest free if its offered at the time of purchase, otherwise your looking at 27.5% (ie:cash advance or expired promo)

If that were the case, GE ("Buyers Edge") would not keep sending us "statements" saying we have $1500 in credit available to us; once the initial borrowing was paid off, the facility would have been "closed", and we would have to re-apply if we were to require further borrowings. As it stands, we could conceivably borrow against this "credit" and, come February next year (if we hadn't paid it back), it would be "Hello 27.5% reaming".

(As I understand it...Will check and let you know if this is, indeed, the case).

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