madehtsobi

hello

i didn't know where to put this but this dealt with wheels and tires so anyways..

has anyone rented/purchased rims/tires from rent a tire before??

what they told me is that you just fill out the app and bring the form with

4 references,
work stub,
utility payment stub,
car payment info

and you choose whether you want to pay

each week
two weeks
or monthly payments

and you get 90 days same as cash? what does same as cash mean??


and if you pass the 90 days you have the option to pay off your balance at a 50% off discount..

sounds pretty good to me..

just want to know if anyone has had any experience with them? any fine print or whatever because i didn't see anything on the form...

thanks in advance!!

wes

Lore

90 Days Same as Cash simply means there will be no interest accumulated on your purchase if you pay it off in 90 days.

Might want to read this article for more information about various financing options. Weighs the pros and cons:

http://credit.about.com/cs/consumerwisdom/a/082401.htm

VTEC=happiness

IMO if you can't afford to buy a set of wheels outright, then you shouldn't be spending the money on them. I can't imagine wheels being a big enough priority that you would want to finance them.

SpecialFX

It sounds like this is the place you're talking about:
http://www.detnews.com/2005/autosinsider/0501/25/C03-69726.htm
I came across this article last week. I can't imagine someone actually wanting to do this. The interest they charge is insane. If you read the article they cite two examples. One guy pays $42/week for a year for wheels that cost $1092. They other pays $60/week for a set that goes for $1560. Each will end up paying more than double the cash price in just one year. I put both of those into a financial calculator and came up with an APR of 157.7%!!!! That's right - one hundred-fifty-seven percent. Can that be legal? Just put them on a credit card at 11% and you'll be way ahead.

Do not, under any circumstance, use this method to pay for something. If you can't pay cash, don't buy it. They're just wheels. Save up some cash to pay for them or learn to do without. It's not worth getting into a financial bind for something like new wheels. The only way this makes any sense is if you absolutely will pay them off before the 90 days. If you have the cash now either pay for them up front or use their money for 90 days then pay them off. Just don't go over 90 days.

apwalsh

I've heard some places that offer the same as cash financing, make you chase them down to pay it off before the time expires. It's not like they send you a final statement and you have until the due date on the statement to pay it. It's 90 days and that's IT! They want you to go over the 90 days so they make it super hard to pay that last payment on time.

Don't be fooled by this garbage. Like others have said, if you cannot buy them outright, you have no business spending money on them.

madehtsobi

yeh....time to save little by little now..=))

thanks for the input guys!!