Comments on: No interest, no payments, no problem? http://www.moneymythos.com/2008/01/25/no-interest-no-payments-no-problem/ A narrative financial and investment column Fri, 05 Sep 2008 17:42:04 +0000 http://wordpress.org/?v=2.6 By: Hannah http://www.moneymythos.com/2008/01/25/no-interest-no-payments-no-problem/#comment-2023 Hannah Tue, 25 Mar 2008 19:13:45 +0000 http://www.moneymythos.com/2008/01/25/no-interest-no-payments-no-problem/#comment-2023 Since inflation is high right now, that adds to your return. $1000 a year from now is worth $1040 today! Since inflation is high right now, that adds to your return. $1000 a year from now is worth $1040 today!

]]> By: Jon @ The Money Mythos http://www.moneymythos.com/2008/01/25/no-interest-no-payments-no-problem/#comment-1686 Jon @ The Money Mythos Wed, 30 Jan 2008 13:43:27 +0000 http://www.moneymythos.com/2008/01/25/no-interest-no-payments-no-problem/#comment-1686 Yes, I couldn't believe the interest rate if you don't pay, and that it's charged on the full sum and not just what you owe! I have to admit it was a pretty odd feeling walking out of there, "buying" these expensive couches without taking my wallet out (well, besides my driver's license for the credit check). Yes, I couldn’t believe the interest rate if you don’t pay, and that it’s charged on the full sum and not just what you owe!

I have to admit it was a pretty odd feeling walking out of there, “buying” these expensive couches without taking my wallet out (well, besides my driver’s license for the credit check).

]]> By: tehnyit http://www.moneymythos.com/2008/01/25/no-interest-no-payments-no-problem/#comment-1685 tehnyit Wed, 30 Jan 2008 13:08:14 +0000 http://www.moneymythos.com/2008/01/25/no-interest-no-payments-no-problem/#comment-1685 We went on a no-interest, 1/3 deposit deal over 12 months recently on a central heating unit. It was more of a cash-flow thing for us. What we ended up doing was to setup an automatic payment on a monthly basis. Obviously the monthly transaction is enough to cover the monthly payment + the fees. Just be careful to never, never, miss a payment. The interest rate on those things are about 30% or more. We went on a no-interest, 1/3 deposit deal over 12 months recently on a central heating unit. It was more of a cash-flow thing for us. What we ended up doing was to setup an automatic payment on a monthly basis. Obviously the monthly transaction is enough to cover the monthly payment + the fees.

Just be careful to never, never, miss a payment. The interest rate on those things are about 30% or more.

]]>