Shops/sites that offer long term financing

Hey all!
Long time lurker!
I’m curious if anyone has seen or have experienced shops/websites that has financing but offer a term longer than 12 months? If so, post below
Thanks!

 

Why?

 

All you get with affirm or whatever they offer is 12mo. Why not just put it on a CC and pay it off. Or pay some and the payments on the rest.

 

Doesn’t sound like a good idea at all. I don’t know your finances, and I’m not trying to get in your business......but it sounds like you can’t afford it.

 

What are you looking to finance? If you need to take longer than 12 months to pay perhaps reevaluate the purchase.

 

What shops? Mattress Firm gave me 60 months, 0% interest on a new tempurpedic. The catch with any 0% synchrony offer is that I have to remember to only make payments in the window between the statement (20th of every month) and the due date (5th).

For everything else, there's PayPal. 6 months, 0%, any purchase over 100 bucks.

 

Looks like Affirm will extend to 18 months. The downside to affirm is the wicked high 15% interest rate. Have you looked at a bank loan? If you have good credit you can get a bank loan that doesn’t rape you with interest.

 

Came to post as above^

PayPal credit usually gives 6 months 0%.. I used them at Wheelers Offroad and it was great

edit: just re-read the OP. If you can’t pay it off over 6 payments at 0% do not make the purchase. Financing over 12 months for mods is a terrible plan. I did the purchase through PP Credit, divided total by 6, and made sure it was paid off before so I didn’t get hit with the accrued interest.

 

I bought a TV from best buy in 2009, 36mo 0% interest. I set up an autopay for $36/mo and never thought about it again. Given I was just starting out of college, it was nice too have the extra cash on hand in a recession.

 

This if you need it.......

 

A bit of a vague Q, no?

There are too many variables to give a reasonable answer considering how this Q is posed.

Broadly, the answer is 'yes'. But it may not fit what it is you are trying to do.

I will add that taking on unneeded debt in today's economy is a roll of the dice. Think long and hard.

And really most curious how the topic is 3rd gen specific? Because it can't be a truck purchase topic, as that answer is too easy.

 

No, you can’t afford it.

You can finance houses, cars, and maaaaybe education. Everything else is a terrible choice.

 

If I had to guess... it’s his first post. Long time lurker. Has a Taco and sees all the posts about mods, lifts, lights, etc. probably 18-25 years old.
Can’t wait to mod the truck. Willing to finance. That would be my guess.

Probably not the best financial decision, but that’s how we learn, and build credit.

 

Or...............

You can finance houses, part of a worthwhile education (as in you'll have a paying job waiting at the end), maaaaybe a car or two over the years.

Everything else is a terrible choice.

 

This guys username is bowel movement 1234, troll

 

That's pretty shitty...

 

Haha! I knew I’d take flack but it’s all good. Thanks for responding either way. I’m well aware how overly excited and newbie this post is. I’ll take it on the chin.

 

The only time you should finance something like mods are when its super low or 0% interest, you already have the money to pay it cash. Finance at 0%, stick those few thousand dollars or whatever in an investment or even savings account that makes you some decent return, then pull from that to pay off your 0% interest loan. You're essentially getting "paid" to borrow money.

 

You been offered some good suggestions and good advice. I would say no matter what you choose or what is is you want to buy be sure you really want or need it. Sleep on it for a night or so. If you do choose to finance some vehicle mod find a short term low or no interest way to do it. Make sure you can pay it off on 6 or 12 months of regular payments. If you aren't sure about that then you can't afford it now.
Maybe save up some cash to get what ever it is. I've used PayPal credit and lots of those no interest finance deals at stores. I always pay off my balance before they charge interest. Paying those off with on time payments sure does help your credit score, not sure will damage it too.