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Zero down, zero percent interest furniture

Sammy

Sammy

New member
I'm in a situation where I must replace some furniture. My lounger and sofa are almost falling apart. I see some furniture stores have payment plans that are 0% down, 0% interest. This seems too good to be true. Is there a catch to this?
 
I heard on a radio program them calling these no-no-no loans. No money down, no interest, no payment for until X days.

They are sneaky and a scam. What they do is you have to pay the entire amount before X days. Its basically an interest holiday on the loan, not a 0% loan. Once the holiday period is over, you're hit with a sky high interest rate. Read the fine print!
 
Anytime something seems too good to be true, there is usually a catch. I didn't know that about furniture financing, but I'm not surprised. I usually put purchases like that on a credit card for the points, then pay it off before the next statement.
 
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