Buds Financing

Discussion in 'XDTalk Chatter Box' started by riot, Aug 9, 2011.

  1. riot

    riot XDTalk 100 Member

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    I'm thinking about using the 6-month option from Buds to finance a gun, but this has me worried:

    [​IMG]

    Does this mean that even if I pay it off inside the 6-month period, I still have to pay the 29.99 interest accrued over that 6-month period? Has anyone used Buds financing and paid off on time with no extra charges? Thanks!
     
  2. Groo

    Groo XDTalk 10K Member

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    If it is like how my snowmobile was more than a few years ago, it was interest free if paid off within 6 months; but if you have any balance at all at the end of the 6 months, they retroactively tack on the interest starting from day 1.

    you can be damned sure I paid in full at 5 months ;)

    so I assume the legal definition for "usury" starts at 30% interest then? 29.99 is just insane:shock:. I think I'd be paying that one off by the start of the 4th month.
     
  3. riot

    riot XDTalk 100 Member

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    That's what I was thinking too, but the wording throws me off a bit. It says, "will be applied to the promotional balance from the purchase date", and, "will continue to apply after your promotional term expires". Makes it sound like it applies to all balances, whether or not it is during the promotional period of 6-months.

    Damn, I wish I could find a gun shop that let me use my Bill Me Later account!
     
  4. N.E. Tx.XD

    N.E. Tx.XD XDTalk 5K Member

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    Just save your money, and pay cash for it. Then you save yourself some headache and worry down the road.
    .
     
  5. Ragnar

    Ragnar XDTalk 500 Member

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    This.

    Financing is bad. Debt is bad. You're only talking about waiting 4-6 months at the most and paying cash. If it's not your only firearm it's a luxury item that can wait and if it's your first then look into buying something less expensive as an interim gun.
     
  6. js12278

    js12278 XDTalk 4K Member

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    The fact that GE is in that document would have me paying for it some other way. I refuse to give GE anymore of my money.
    It probably accrues interest back to the purchase date if you do not pay it on-time.
    Cash is King.
     
  7. Zombie Hunter

    Zombie Hunter XDTalk 4K Member

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    This is why I like XDTalk, I feel like I am taking crazy people when I say this to most people and they act like I am un-American for not running up as much personal debt as possible!
     
  8. ZAPPO

    ZAPPO XDTalk 1K Member

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    Like Dave Ramsey says, "Be weird". Get out of debt and stay out of debt. Don't get it until you can pay cash for it. You will be a much more contented person down the road. Most all wealthy people wouldn't buy a new car if their net worth was under 1 million. Thats partly why most people are poor. They ignore principles that the rich live by for the most part. I know people driving around in big new trucks etc. and have the new or nearly new home. I'm not impressed because I know nearly all of them are just barely paying for it.

    And by the way. Don't deal with GE. Let them stick it and shame on Buds for even participating in that option to sell a product. Money lenders are not your friend. Stay away from them.
     
  9. riot

    riot XDTalk 100 Member

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    Thanks for the replies, you've talked me into waiting!
     
  10. woundedyak

    woundedyak XDTalk 100 Member

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    Don't be willing to go into debt for anything!!!! Especially if you don't understand how "Deferred Interest" works and also what's going on in the country. Look for that statement from your bank telling you how your interest rate is going up again in the near future. The price Buds list in the cash price. If you finance through Buds, they make you buy a warranty (about $35.00) then they bang you 3-4% of the deal that GE charges them. GE is known for giving people way more credit then they need. Once you get credit through Buds, you will have the ability to click and buy as you please. Before you know it, you have a maxed out card and a 3-4 hundred dollar payment. So do the right thing and just pay yourself a credit card payment each month and DON'T TOUCH IT!!! You will be amaze on how fast you have the cash to buy it!
     

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