ericn
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Balance Engineer
Posts: 16,107 
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Post by ericn on Nov 4, 2024 20:34:00 GMT -6
People shouldn’t use it, but how else can everyone’s Wall Street backed investment accounts continue to spit out record returns? Wall Street NEEDS everyone to promise to buy today.. like Apple- they sell a zillion phones, but they are all mostly sold as part of a contract, no up front cost. The stock explodes on amazing numbers, they can liquidate the stock take the cash and make their own interest while they wait for people to make payments. The whole stock market is learning to do this, or maybe they always have. Everyone’s banks and loans are riding on this style economy. To me, it’s probably ok to have something in possession to keep your sanity these days  Oh Christopher, while we come from different political bases I know Ward and I could either bore you to death or dazzle you with a conversation of the contradictions of what is good for the individual vs the economy in general. |
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Ox Han
Junior Member
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Post by Ox Han on Nov 4, 2024 21:04:24 GMT -6
I don’t want to encourage, but I used PayPal pay in 4 to buy some tickets to a game and used their provided equal payments & payment dates and had no issues at all. Paid in full with no penalty.
I didn’t have to do it, but cash flow is nice. And the game was worth it!
Traffic on the other hand …
No regrets. YMMV
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ericn
Temp
Balance Engineer
Posts: 16,107
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Post by ericn on Nov 4, 2024 21:41:59 GMT -6
I don’t want to encourage, but I used PayPal pay in 4 to buy some tickets to a game and used their provided equal payments & payment dates and had no issues at all. Paid in full with no penalty. I didn’t have to do it, but cash flow is nice. And the game was worth it! Traffic on the other hand … No regrets. YMMV So what was the game you knew someone was going to ask😁 |
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Post by drbill on Nov 4, 2024 21:49:02 GMT -6
The Whole Idea of interest free if paid in X-days is scam, they know 90% are going to forget / miss / underpay. Yup. Somebody call up Dave Ramsey and ask his opinion on this.  Credit cards, short term loans, no money down, etc. are a scam designed specifically to take advantage of the disadvantaged (musicians). |
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Post by christopher on Nov 4, 2024 21:54:59 GMT -6
Someone I knew had a masters degree and didn’t know how much 10% off is, and would ask me how much 😔
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Post by Bat Lanyard on Nov 4, 2024 21:57:47 GMT -6
I've used it many times over the years and it's a great feeling to pay it off two days before all the accrued interest kicks in. Agree it's ridiculous and a scam, but beating it is fun and at times has let me spread out some purchases. I missed it one time years ago on a purchase and that was a pisser for sure to pay even an extra $128.
Won't be doing anymore financing with VK or SW though with the added Syncrony "fee" they just installed. FO to that. As long as you plan reminders and pay it down on PPC you can avoid the penalty. Your credit will take a hit running that up though.
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Post by doubledog on Nov 4, 2024 22:22:55 GMT -6
In EUrope Paypal only offers payment in 4x, and not above 2000euros. Your US Paypal offers seem way better. not necessarily better. Banks in the USA are allowed to do things that Europe and others have probably outlawed. But hey, we love predatory lending here. |
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Post by Johnkenn on Nov 4, 2024 22:35:34 GMT -6
exactly - and exactly what they are hoping you do! Yup, someone here (was it ericn or Johnkenn? I don't recall), exposed their shenanigans here. It gets tricky if you've financed more than one item -- payments don't get applied like you think they ought to, logically. I think financing one item is generally safe. Yeah. Be sure to know what kind of promo it is. Some are XX months equally paid. Others are XX months no interest. If you get both of those at the same time, you will find that shit gets fucked up. I was gonna go into it…but ain’t nobody got time for that. |
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Post by tonycamphd on Nov 4, 2024 22:53:00 GMT -6
I bought my Lynx aurora(n) on PP 6 month zero interest, I could afford to buy it outright but preferred to keep the cash in hand, I paid around $1,500 a month or so and finished well early, a lot less painful than dropping $6,400 quick! just be realistic and don’t do it if you can’t afford it
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Ox Han
Junior Member
Posts: 93
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Post by Ox Han on Nov 5, 2024 9:58:11 GMT -6
I don’t want to encourage, but I used PayPal pay in 4 to buy some tickets to a game and used their provided equal payments & payment dates and had no issues at all. Paid in full with no penalty. I didn’t have to do it, but cash flow is nice. And the game was worth it! Traffic on the other hand … No regrets. YMMV So what was the game you knew someone was going to ask😁 Argentina v Chile @metlife Copa America |
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Ox Han
Junior Member
Posts: 93
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Post by Ox Han on Nov 5, 2024 10:02:12 GMT -6
I've used it many times over the years and it's a great feeling to pay it off two days before all the accrued interest kicks in. Agree it's ridiculous and a scam, but beating it is fun and at times has let me spread out some purchases. I missed it one time years ago on a purchase and that was a pisser for sure to pay even an extra $128. Won't be doing anymore financing with VK or SW though with the added Syncrony "fee" they just installed. FO to that. As long as you plan reminders and pay it down on PPC you can avoid the penalty. Your credit will take a hit running that up though. I know the added syncrony fee replaced the round-up-to-the-nearest-whole-dollar scheme. Is it that much more money? I haven’t really checked |
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Post by poppaflavor on Nov 5, 2024 19:01:51 GMT -6
A little bit of a tangent, but applicable to the interest-free thing.
We got an $11,000 new HVAC system on credit interest free a couple years back. We saved thousands. Of course I spent it on gear lol.
The representative of the heating and cooling company sat us down and literally slapped us around the head with warnings for a full 15 minutes about how we will definitely get hit with that 30% fee if we missed paying off by a moment.
He also went into great detail about what we needed to do to make sure that we paid off in time and to do the calculations rather than rely on the low automatic payment because that low automatic payment would have not paid the credit off in time and resulted in us getting hit with the interest fees.
So for 18 months I had a calendar appointment set up and went in and manually made the payment every single time.
I think that if people are responsible, set up control mechanisms and rigorously pursue their payment plans, there can be some real wins out there for 0% interest. It's literally free money, well until it isn't :-(
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Post by doubledog on Nov 5, 2024 22:09:03 GMT -6
My current vehicle had a 0% loan. I thought for sure that there must be something behind that 0 but, nope, I did the math and it was truly 0. So I paid my payment every month (auto deduction) for 5 years and now it's all mine lol.
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Post by Oneiro on Nov 7, 2024 18:09:39 GMT -6
I've used these plans. Bought thousands of dollars worth of gear. Never missed a payment or a deadline. Works really well for this kind of work if you're a working engineer.
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ericn
Temp
Balance Engineer
Posts: 16,107
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Post by ericn on Nov 7, 2024 18:34:54 GMT -6
My current vehicle had a 0% loan. I thought for sure that there must be something behind that 0 but, nope, I did the math and it was truly 0. So I paid my payment every month (auto deduction) for 5 years and now it's all mine lol. The only kind of gotcha on Zero percent car loans is well the manufacturer is your bank. They are not looking to make coin on the loan but the sale of the car. What this is a tell of & everyone forgets, it shows how flush car manufacturers are. |
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Post by doubledog on Nov 7, 2024 22:08:17 GMT -6
My current vehicle had a 0% loan. I thought for sure that there must be something behind that 0 but, nope, I did the math and it was truly 0. So I paid my payment every month (auto deduction) for 5 years and now it's all mine lol. The only kind of gotcha on Zero percent car loans is well the manufacturer is your bank. They are not looking to make coin on the loan but the sale of the car. What this is a tell of & everyone forgets, it shows how flush car manufacturers are. I did OK on the vehicle price too (the manufacturer always has some built-in margin). The dealer was feeling thin and tried to sneak in some extras (like $300 for serial numbers etched on the windows, but I knew that was done at the factory...). I told the finance person she had 5 minutes to get the sales contract back to the number we had agreed on or I was walking. They fixed it.  |
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Post by frans on Nov 8, 2024 3:37:04 GMT -6
Paypal in Europe (or Germany) has different "rules" (provided you have the muscle to remember them of their own rules in case push comes to shove) than in the states. A few years ago they had their typical change of terms over here (funny enough, never in favour of their customers) and that was when my lawyer friend strongly advised me to untie my Paypal account from my business.
I know a good number of people who never had trouble with Paypal, i pulled the short straw twice and both times they sided with the crooks.
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