Mugato
Muh Feelz!
- Joined
- Feb 25, 2014
- Messages
- 933
Because you’re effectively getting free money.
What? Can you explain?
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Because you’re effectively getting free money.
What? Can you explain?
That's all this country needs is more people riddled with debt. GJ Amazon!
I agree with you, but if Amazon is giving you a free loan, it makes sense to use their money and let your money continue gathering interest/dividends/etc.
This is how you test the limits of how far you can go.....Amazon is pushing the limits of how big it can get and its torpedoing everyone on its way there. They literally are becoming a giant (scary) company.....they are plowing everyone over on the way there.
According to the article, a big negative is the small selection of PC parts you can choose from. Why limit choice?
300k Pascal parts moved since announcement.
Link?
I will never understand those who finance luxury items. If you can't afford it outright, and you don't need it, don't get it.
Yes I understand there are other reasons to use this service, good on Amazon for offering it. Undercutting the CC companies now.
Not sure what your point is here. I was defending capitalism but whatever.....I was referring to the fact that Amazon is crushing competition and putting people out of business but you can continue to rant on.Right, because all the poor people in the first world with smartphones, TVs and supermarkets full of food of all kinds (and generous food stamp programs paid for thanks to CAPITALISM) is such a bad thing.
What a stupid thing to say or even believe.
Lol, zing
They don’t do a credit check?
What happens if you default?
Yes this is true to a certain extent, but they are banking on the fact that most people won't pay it off in the time frame give, this is the EXACT reason CC companies have 0% interest for certain purchases because they are placing bets on more people not paying it off so they can hit them with a slightly higher interest rate after the 0% period ends.Meanwhile, savvy people like me take advantage of offers like this, credit card rewards, etc. and remain debt free.
yea interest free
same thing if you pay all up front. could spend 2k on a computer today and then end up in the hospital tomorrow. Sure that 2K would be awesome to have right now.
I see no problem splitting it up if they are letting me do it interest free. Have no problems taking advantage of that kind of thing on a lot of stuff.
Because you’re effectively getting free money.
Dumping inventory maybe? Who knows. Amazon is a pretty smart company they like to move products and quickly.Perhaps, but I do wonder why in this case, why would Amazon offer free loans?
Maybe it's so they can slowly increase profit margins on PCs and components. Sure it's $20 more, but it's only $5 a month more ........
Isn’t capitalism grand? /s
This isn't capitalism its corruption.....capitalism like democracy is a great idea but when left to do unethical/corrupt practices it turns out bad for everyone but those on top.
Its not "free money," its borrowed money...
You’re not getting it. Do you know what interest is? ANY time you get a zero percent loan, you are getting free money from 2 different perspectives:
1. You’re not paying a fee to borrow the money (ie, interest).
2. Your money remains in the bank, investments, etc, earning money.
Obviously you pay the principal back, but if you were going to buy the product in the first place, you were paying that regardless.
You don't even have to do 5 months. You can do 24 months deferred interest on an Amazon store card provided you make the payments on time.
Yep, I have a $5000 credit limit with Amazon's store card and I noticed that they upgraded it to 24 months instead of 12 months last week. So you can hypothetically get a $3000 machine and pay $125 a month with no interest. The interest rate on either Amazon credit card or store card is horribly high. If they didn't do deferred interest, I wouldn't do it.Wait, is this deal solely for purchases made with an Amazon CC ?
I had not thought of that and I better understand the reason for this move if it's correct.
You’re not getting it. Do you know what interest is? ANY time you get a zero percent loan, you are getting free money from 2 different perspectives:
1. You’re not paying a fee to borrow the money (ie, interest).
2. Your money remains in the bank, investments, etc, earning money.
Obviously you pay the principal back, but if you were going to buy the product in the first place, you were paying that regardless.
That's not free money. You are not earning more money just retaining what you would otherwise be spending. By your analogy anything that is on sale the price difference is also considered "free money" which it is not. I am completely "getting it".
Exactly. Don't spend what you can't afford.
According to the article, a big negative is the small selection of PC parts you can choose from. Why limit choice?
Everything is Amazon. Like the movie The Dictator. Replacing a bunch of words with Aladeen.
Husband: How are the Amazon's today?
Wife: They are fine, one caught an Amazon and I took him to see the Amazon, and the Amazon said the test came out Amazon.
No, you’re not getting it. Interest is the money paid to gain access or to “purchase” (for lack of a better term) someone else’s money.
Let me use another analogy. Let’s say you need to rent a car from Enterprise. The cost of renting the car is $200 for the week. Let’s say that they decide to waive the fee for the week and you’re given the car.
1. You got the car for free. Yes, you have to return it at the end of the week, but you paid $0 for the privilege.
2. The $200 you would’ve spent is sitting in the bank and gaining interest. So you most certainly ARE earning more money by not spending what you planned to spend.
No, you’re not getting it. Interest is the money paid to gain access or to “purchase” (for lack of a better term) someone else’s money.
Let me use another analogy. Let’s say you need to rent a car from Enterprise. The cost of renting the car is $200 for the week. Let’s say that they decide to waive the fee for the week and you’re given the car.
1. You got the car for free. Yes, you have to return it at the end of the week, but you paid $0 for the privilege.
2. The $200 you would’ve spent is sitting in the bank and gaining interest. So you most certainly ARE earning more money by not spending what you planned to spend.
That's not free money, what you are referring to is the concept of opportunity costs.
*facepalm*
When you don’t pay for the use of an item (see my car analogy), that item is free. If you went to Enterprise and wanted to rent a car for $200 for the week and they said “We are waiving the rental fee this week,” I promise you’d go home to the wife or call your buddies and say “Hey! I just got a free car for a week!” This is EXACTLY the same thing. When you pay NO MONEY to use a good or service, that good or service is FREE. In the case of a loan, the principal is the “good” and the interest is the usage fee.
Did you not see my comments about opportunity cost?