Question about Financing

[Kaido]

I've been building up my home gym for the last couple of years and the final piece I want is a treadmill. Not just any treadmill - I want a good-quality model with a warranty that will last a long time and not give me problems. Here is one I'm looking at from Pro-Form: (I have a wonderful elliptical from them and love it)

http://www.proform.com/webapp/...13402&ddkey=ClickInfo#

They want $1249 or $38/month. The price isn't so terrible that I couldn't just pay it off, but since I'm a full-time student financing is looking like a good option. I'm curious as to what the end price would be. I haven't done much financing in the past so I'm not too familiar with the terms. From what I understand, interest is added to the balance after 90 days. What I want to know is, if I pay the minimum each month, what will the final total be?

 

[newb111]

Without knowing the interest rate, nobody can tell you the total.

 

[Kaido]

Originally posted by: newb111
Without knowing the interest rate, nobody can tell you the total.

Yeah that's a little lame. Same on the Nordictrack site, they use Icon as well for financing. Guess I'll just have to call!

 

[QED]

ICON Financial also seems to offer financing on Norditrack machines... and from this link it seems they offer a "special" rate of 16.99% for the first year.

Let's say they give you a rate of 16.99% until its paid off. It will take 45 months to pay it off, and will cost you a total of $1686.

 

[Kaido]

Originally posted by: QED
ICON Financial also seems to offer financing on Norditrack machines... and from this link it seems they offer a "special" rate of 16.99% for the first year.

Let's say they give you a rate of 16.99% until its paid off. It will take 45 months to pay it off, and will cost you a total of $1686.

Hah, I'll just suck it up and save up for it then. Not worth the extra $400 :Q

 

[Epic Fail]

3 month deferred interest!!!!!

The 16.99% rate is like charging it to your CC and making the minimum payment every month plus the burden of dealing with a separate bill. :thumbsdown:

 

[RaistlinZ]

I strongly urge you to check this out before purchasing. :thumbsup:

 

[Duddy]

Interest is a bitch.

 

[Kaido]

Originally posted by: RaistlinZ
I strongly urge you to check this out before purchasing. :thumbsup:

Haha 10/10 :laugh:

They should air that before TV commercials!

 

[biggestmuff]

Just wait until you have the extra money to purchase it. Run outside until then.

 

[JeffreyLebowski]

I never understood the point of having a treadmill at home. Do you live in the middle of a lake or something? Can't you go run outside for free? That's what I do.

 

[Kaido]

Originally posted by: JeffreyLebowski
I never understood the point of having a treadmill at home. Do you live in the middle of a lake or something? Can't you go run outside for free? That's what I do.

My free time is at night; I don't live in an area that is big on lights or sidewalks