My sig. other told me there was lots of back and forth between the mattress salesman and the bank, with the final result being "alright I got you a good deal: 36 months 0 APR" and supposedly the last payment is before the end of the finance term, but I still feel like what incentive does the bank have to offer a 36 month free loan? It was technically a credit card I believe, but they have not used it at all. Maybe that was what the bank had hoped for to make money?
I looked over the contract and it appears that everything looks OK, but knowing how people get duped with deferred interest, I want to prevent that for them. Hypothetically, what if the final payment due date occurred 1-2 weeks after the 36 months and deferred interest appeared?
I told them to try to pay off everything 3-4 months before the deadline to ensure no goofy extra costs. Thank you for any insight!
Submitted August 30, 2019 at 07:59PM by Gay_Black_Atheist https://ift.tt/30NrcGu