Financing through the Big Box stores???

Discussion in 'Bad Dog Cafe' started by threadbare, Mar 3, 2016.

  1. threadbare

    threadbare Tele-Holic

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    Anybody ever finance through the Big Box stores?Id never get a store card(interest too high). Sweetwater is really tempting me right now. 48 months interest free on the card of your choice. $28/month for some fender tube amp goodness! It's the only way I see to cure my current gas attack.
     
  2. don71

    don71 Tele-Afflicted

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    That is tempting. Hmm...super reverb. NO!

    Got no help brother. GAS hurts.
     
  3. Jakedog

    Jakedog Doctor of Teleocity Ad Free Member

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    I use AMS. It's great. I usually do the 12 payment deal. No interest or financing BS. I just punch in my debit card number, and it charges my card once a month. Awesome way to get great gear affordably.
     
    Last edited: Mar 3, 2016
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  4. filmtex

    filmtex TDPRI Member

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    I've done the same thing at zzounds.com a couple times. Seems like most of the online big guys have something going and the prices are generally competitive.
     
  5. Chud

    Chud Poster Extraordinaire

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    Only with a 0% promo rate, paid off before it ends. I have a MF card that I use that way occasionally, and we bought our new TV from BB on theirs the same way.
     
  6. threadbare

    threadbare Tele-Holic

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    Think I'm gonna wait. Apparently you have to apply for their card to get the deal. I was thinking it was like AMS where you can use your existing account .
     
  7. Vognell

    Vognell Tele-Meister

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    As long as you get the interest free deal, it's awesome. Sam Ash has even run 36 month interest free financing.
     
  8. Boyd

    Boyd Tele-Afflicted

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    I bought two acoustics (one new and one used) with 0% financing for 18 months with Guitar Center's credit card. Seemed like a good deal, there were no fees with the card and the reason I got it was because they offered a 15% discount if you signed up for the card. I paid them both off in 12 months, so there were no finance charges.

    A year ago I found a very nice 1965 J-50 at Guitar Center and talked them down almost 20%. I then asked if I could use the card and the salesman had to talk to the manager (the 18 month promotion was only for new instruments). He came back and said I could use the card, but only if I paid full price. So I just bought it outright, which saved me about $400.
     
  9. Chud

    Chud Poster Extraordinaire

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    Yeah, they have a statement in their agreement about discounts applied manually at the register not being eligible for promotional financing.
     
  10. P Thought

    P Thought Poster Extraordinaire Ad Free Member

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    That's because "0% interest" deals have interest built into the price.
     
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  11. unixfish

    unixfish Doctor of Teleocity Silver Supporter

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    Read the fine print. If you do a 12 months no interest, and are even one day late with the final payment, you will get socked 25%+ for the whole amount for the whole duration. All "they" need is a handful of people to miss that last payment date to make up for everyone else.
     
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  12. studio1087

    studio1087 Telefied Silver Supporter

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    Just curious.....what's the problem? Are you afraid that if you have the card you'll abuse it?

    I applied for the MF card years ago when they had 6 months same as cash and I divided the price of a Les Paul Jr (on sale) by 5 and paid for it in 5 months. They only charge interest if you go over the end deadline and you haven't paid in full. When they mailed me the actual card I took it out of the envelope and cut it up with a kitechen shears and threw it away. I just wanted the sale price on the Les Paul combined with 5 easy interest free payments.

    No. Not in my example. I paid 15% less than the catalog price on the Lester Jr. and used their money for 5 months. I hate credit cards but if I can use someone else's money interest free for a few months why wouldn't I? Our dish washer blew up about one year ago and we bought a new Bosch for $1500. The appliance center had 6 months same as cash. I sent $300 per month and finished in 5 months rather than writing one check for $1500. Same concept. I still got the sale price.

    They make a lot of money off those who don't pay up by the deadline. They add 20% interest retroactively starting on the day that you signed for the deal and more interest (on the now inflated total) as you make credit card type payments going forward. Do that math and pay such that you've paid it off a month or two early.
     
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  13. studio1087

    studio1087 Telefied Silver Supporter

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    That's it. That's how they getcha. Ooooh! That's how they getcha!
    [​IMG]
     
  14. soulman969

    soulman969 Telefied Ad Free Member

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    This is the approach I use as well. There are no interest financing deals ranging from 3 months to 12 months offered by several online dealers and soon we may see some that extend to 24 months as well.

    Note that these are all internally financed by the dealer themselves so they are not reported to credit agencies and therefore have no effect on ones credit rating or ones credit score. So it's a good way to go without impinging on your other credit lines.
     
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  15. soulman969

    soulman969 Telefied Ad Free Member

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    That does apply if you're using the dealer sponsored credit card from an outside lender but not when it's being internally financed by the dealer. They just require a credit or debit card they can automatically bill for each monthly installment and as long as that card has a usable cash or credit balance no payment is ever late or missed.
     
    Last edited: Aug 17, 2016
  16. soulman969

    soulman969 Telefied Ad Free Member

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    Not in my experience. I bought my Taylor on a 12 month no interest deal and was still given a 17.5% discount to better another dealers price. In fact every time I've used an extended payment option I've been given a competitive discount the same as if I paid cash.
     
  17. soulman969

    soulman969 Telefied Ad Free Member

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    Exactly. I'm not sure why some people have to post their suspicions as if it's fact if they've never even financed that way. It's also very easy to avoid any interest penalty by simply doing an autopay each month. I fully agree with studio here. If I can use OPM and preserve current cash and work off future cash flow lead me to the trough. I'll drink. :D

    As for how they manage it internally and affordably my guess is they're getting extended terms from the manufacturers who provide them with current inventory to meet the needs to ship during the promotion. Several dealers rotate these offers on different lines throughout the year and some are internally financed.
     
  18. Chud

    Chud Poster Extraordinaire

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    Yep, and MF has their reward points worked into the mix as well (as I'm sure others do) so on top of the normal discount you can ask them for any day of the week, on top of the free financing for anywhere from 6-36 months, you also get 8 points for every dollar spent where 100 points redeemed = $1 actual dollar in your cart. I recently picked up an open box Behringer X-Air and a new X-Touch both nicely discounted, put them both on 36 month payment at 0%, and racked up enough points to purchase a power conditioner and a T-Racks compressor/limiter plug-in, and still have about $43 worth of points to use.
     
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  19. P Thought

    P Thought Poster Extraordinaire Ad Free Member

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    Important disclaimer: P Thought doesn't know WTF he's talking about, especially where it comes to financial matters.
     
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  20. still_fiddlin

    still_fiddlin Friend of Leo's Ad Free Member

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    I have a GC card that I got for the promotional 0% rate when I got my Martin about 5 years ago. And, I got 15% off the guitar's tag price, too.

    I also used it for the Blues Cube Hot (30% off!), and just bought a Bose PA (20% worth of "GC bucks" - their MF club equivalent, I guess) - all 3 years, no interest promos. I could pay for it, but I like using other people's money for free. The bank they are using now (Synchrony - previously Capital One handled their card) has an autopay capability so I cannot possibly be late with a payment, which is great.

    I wouldn't have the card except for the promo thing, though.

    P.S. Make sure to read the fine print - even if you get 3 years, there may be a minimum payment that is higher than your purchase divided by 36 (or 12/24/48, whatever). It may not matter, but if you're imagining tiny payments, you could be surprised. (I think GC promos usually are $25/mo minimum.)
     
    Last edited: Aug 18, 2016
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