Interest Free Financing

This financing option is often available on home appliances, computers, furniture, etc. The problem with it can be found in the cases where the balance is not paid in full at the end of the interest only promotion period.

At that time, if the balance is not paid in full, you will owe accrued interest charges that could be as high as 20%. If you have financed the purchase of a $1,200 item, interest on that amount could reach $750 or more after 18 months.

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Disclaimer: This website is designed for information purposes only and is not intended to provide comprehensive advice. Before making any decisions effecting your personal finances you should seek the adivce of an expert in that particular area in question.