Robden Posted August 31, 2021 Report Share Posted August 31, 2021 Buying a new gun. The money's in the bank account. Interest free credit is available. Is there any real advantage in using their credit? Quote Link to comment Share on other sites More sharing options...
JohnfromUK Posted August 31, 2021 Report Share Posted August 31, 2021 8 minutes ago, Robden said: Buying a new gun. The money's in the bank account. Interest free credit is available. Is there any real advantage in using their credit? One advantage might be that a loan fully repaid to the schedule does help build a good credit history. That may be something useful to you in the future, or you may already have a good rating/history. On the downside there might be some (usually modest) set up costs. Quote Link to comment Share on other sites More sharing options...
Robden Posted August 31, 2021 Author Report Share Posted August 31, 2021 Thanks. Not bothered about credit rating etc. My last credit was the mortgage which finished about 15 years ago. It's their own credit thingy, and only needs one signature......done in minutes. I could see an advantage if savings interest was high, but then, they probably wouldn't be offering interest free. Quote Link to comment Share on other sites More sharing options...
Dougy Posted August 31, 2021 Report Share Posted August 31, 2021 I owe B all, no mortgage or any loans and a few pennies in the bank, if its offered and its the cheapest price then why not, but i always check the price compared to other retailers. Quote Link to comment Share on other sites More sharing options...
NoBodyImportant Posted August 31, 2021 Report Share Posted August 31, 2021 I have zero debt except a backhoe I just purchased. I can afford to write a check for it but it was zero percent interest. The dealer offered no discount for cash so I went zero% Quote Link to comment Share on other sites More sharing options...
London Best Posted August 31, 2021 Report Share Posted August 31, 2021 I have never believed there is any such thing as interest free credit. Somebody is paying for it. Quote Link to comment Share on other sites More sharing options...
Fatcatsplat Posted August 31, 2021 Report Share Posted August 31, 2021 I'd be tempted to ask for a cash discount and just go that route - As London Best says, somebody is paying for it. If you go 0% interest, you have to go through all the agg of form filling and then receive a bundle of unsolicited marketing e mails from the lender and their "friends" Quote Link to comment Share on other sites More sharing options...
Stimo22 Posted August 31, 2021 Report Share Posted August 31, 2021 Couple of years ago I purchased a new Ford car and it was cheaper to have a two year interest fee deal than buy cash. I know the dealer well and he said it would save me over 1k to buy like that, he recommended taking deal and then pay early to close the loan, but left cash in bank and paid for two years Quote Link to comment Share on other sites More sharing options...
London Best Posted August 31, 2021 Report Share Posted August 31, 2021 15 minutes ago, Stimo22 said: Couple of years ago I purchased a new Ford car and it was cheaper to have a two year interest fee deal than buy cash. I know the dealer well and he said it would save me over 1k to buy like that, he recommended taking deal and then pay early to close the loan, but left cash in bank and paid for two years I too have bought cars like that. Take the deal, make one payment then clear it. The dealers get a commission from the finance company for selling the loan. I have even asked for a share of their commission for agreeing to buy. Quote Link to comment Share on other sites More sharing options...
samboy Posted August 31, 2021 Report Share Posted August 31, 2021 2 hours ago, London Best said: I have never believed there is any such thing as interest free credit. Somebody is paying for it. I was always led to believe nothing is free in this world. Quote Link to comment Share on other sites More sharing options...
Dougy Posted August 31, 2021 Report Share Posted August 31, 2021 Money in your bank is better than money in someone's else's. If you can't find a better deal and no discount for cash then what's the cost to you The benefits to retailers is they sell the products, still making the mark up they want. Just because it's interest free doesn't mean it's going to cost you extra.There loss leaders, been going on since the Bethlehem markets in Jesus's days. Quote Link to comment Share on other sites More sharing options...
oowee Posted August 31, 2021 Report Share Posted August 31, 2021 32 minutes ago, Dougy said: Just because it's interest free doesn't mean it's going to cost you extra.There loss leaders, been going on since the Bethlehem markets in Jesus's days. Any evidence for that Quote Link to comment Share on other sites More sharing options...
discobob Posted August 31, 2021 Report Share Posted August 31, 2021 If something is free, then you are the product!!! Quote Link to comment Share on other sites More sharing options...
Dougy Posted August 31, 2021 Report Share Posted August 31, 2021 2 hours ago, oowee said: Any evidence for that It's in the Bible, Mark chapter 16. Quote Link to comment Share on other sites More sharing options...
Jim Neal Posted September 1, 2021 Report Share Posted September 1, 2021 Generally, "interest-free" credit is nothing of the sort. They have already marked up the price to match what they would gain from interest at a certain rate over a certain period of time. It just sounds a lot more tempting to offer 0% credit. If you've got the cash in your hand, make them an offer? Does nobody else sell it at a lower price to buy in the traditional manner? Quote Link to comment Share on other sites More sharing options...
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