Ryan03
Platinum Member
- Joined
- Feb 26, 2006
- Messages
- 657
- Location
- Chardon Ohio
- Tractor
- Farmtrac DTC270, Kubota G5200hydro, Honda recon 250, Suzuki King Quad 450 4x4, 2003 2500 DMax/Allison 4x4
I am sure it does. Simple fact is most people are not as smart as we are and think of things like that. They see "free" money for 90 days and a new truck to boot and they line up at the door. Guess who pays in the long run?
I have learned my lesson on this one. When I got out of college I had very little debt because I worked hard and my parents were able to help but I got my first place and needed some stuff. Local furniture store was offering no payments no interest for 12months. I jumped getting a 32" TV, big back then, and a couch, love seat, recliner, end tables, and coffee table. It was about $1800. Not the best stuff in the world but it was new and mine.
Anyway I was making good money at the time so I was paying $250 each month and planned to pay it off well before the 12 months. I then wanted to trade my truck and get a new truck. To my surprise I had a loan in my name for something like $6000. They had done the loan at like 18% plus had all types of late fees, finance charges, ect in it. Of course I was never going to pay these because I had it set up to pay off in about 8 months but it was still on my credit report. The next morning I marched down to the store then to the bank that did the credit for them and paid it off and would not leave until I had papers in my hand saying it was paid in full.
Valuable lesson for a young guy. No free lunch!
Chris
Yep, if it sounds to go to be true, IT IS !!!!!! Now that I am older and have been around the block once or twice, I ALWAYS carefuly read the fine print. When I am done, I read it all again.