efinancing with hpshopping.com...

[skim milk]

i am a college student in need of a laptop.... and there is a decent deal going on for a compaq laptop for around $1100

I do not have the credit card limit to purchase with it.. so im considering the efinancing option. I read the small print but i still don't quite understand it

it also states 6 months no interest no payment.... does it really mean i dont have to pay anything for 6 months? and just pay it full or monthly after the 6 months from the date of purchase?

also, what is the apr? it's confusing to me
any extra info provided will be helpful.. thanks


here is the link
hpshopping .. click on online financing on the left side to view

 

[Nocturnal]

APR=Annual Percentage Rate. I think it means that when your one year occurs, whatever your balance is, you times that by whatever your APR is and that is the interest you'll have to owe. So as long as you pay off your borrowings before the one year mark you won't need to pay any interest? I don't know.

 

[skim milk]

Originally posted by: Nocturnal
APR=Annual Percentage Rate. I think it means that when your one year occurs, whatever your balance is, you times that by whatever your APR is and that is the interest you'll have to owe. So as long as you pay off your borrowings before the one year mark you won't need to pay any interest? I don't know.

yea... sorry for not making my question clear

i know what apr is... i was asking what is the apr for this particular financing? the %

 

[Nocturnal]

Uhm, if you read the fine print it should be there. It has to be there. If not, I wouldn't go with it. It might be 100%!!!!!!!!!!!!! Go through Dell.com if I were you.

 

[AlienCraft]

RE: 6 month , no Interest, No Payment.
PROBABLY means that interest accrues through that 6 month period but No Payments REQUIRED during that 6 month period.
At 6 month + 1 day full amount becomes due along with interest accrued on ANY UNPAID BALANCE.
IE... Pay off the principal in 6 mos, no extra charges.

 

[AlienCraft]

Originally posted by: fritolays

Originally posted by: Nocturnal
APR=Annual Percentage Rate. I think it means that when your one year occurs, whatever your balance is, you times that by whatever your APR is and that is the interest you'll have to owe. So as long as you pay off your borrowings before the one year mark you won't need to pay any interest? I don't know.

yea... sorry for not making my question clear

i know what apr is... i was asking what is the apr for this particular financing? the %

APR must be CLEARLY marked in any solicitation.
It's in there.
Read carefully.
Probably 22-24.9 %

 

[skim milk]

Originally posted by: AlienCraft

Originally posted by: fritolays

Originally posted by: Nocturnal
APR=Annual Percentage Rate. I think it means that when your one year occurs, whatever your balance is, you times that by whatever your APR is and that is the interest you'll have to owe. So as long as you pay off your borrowings before the one year mark you won't need to pay any interest? I don't know.

yea... sorry for not making my question clear

i know what apr is... i was asking what is the apr for this particular financing? the %

APR must be CLEARLY marked in any solicitation.
It's in there.
Read carefully.
Probably 22-24.9 %

this is what it says

Variable Rate - As low as Prime + 2.4* APR will vary with changes in the Prime Rate

The variable Standard Rate APR is Prime Rate + 2.4 percentage points to Prime Rate + 17.4 percentage points (6.65% to 21.65% as of 01/01/03). For Accounts generated before March 27, 2001: The Standard Rate is 19.2% APR.


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