Don't Use Store Financing Programs, they'll cost you more money.
The “Don't Pay for 1 Full Year” slogans are all over the media. Whether it's for some new living room furniture, a new computer or some other expensive item, store financing programmes like this are available in many stores. While they seem great, they have trapped many people in high interest loans for many years. While you have the intention to pay it off before the year, what happens if you can't? On the day that the loan comes due, they not only start charging you interest, but may charge you the interest for the entire year that you didn't need to make payments. If it was for a £1000 sofa, on the 366th day, you may owe £1200 or more if the interest rate was 20%, however many are higher. Save up and pay cash for large items.
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