How Does Same As Cash Financing Work. When they say no interest for six or 12 months they don t mean that there is no interest accruing they simply mean you re not paying it yet. The common misconception about these financing deals is that as long as the customer pays the balance of the original loan amount within the six months their lender will charge no interest at all.
Here s the catch though. Get your free credit score monitoring. If your balance isn t paid in full in 90 days the interest is backdated to the date of the purchase and added to your balance.
Same as cash offers are often considered financing options of last resort.
If you offer 180 day same as cash financing to every prospective customer on average 50 60 of them will apply. If your balance isn t paid in full in 90 days the interest is backdated to the date of the purchase and added to your balance. Customers take possession of the merchandise or enjoy the service immediately. Same as cash loans work best for customers who have cash on hand need temporary financing while waiting for a rebate bonus or incentive payment or those who have investments they do not wish to liquidate.