Use my example. Put the money into a T-bill or something. That's considered risk free.
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Amazon Now Lets You Finance Gaming PCs and PC Parts at Zero Interest
- Thread starter Megalith
- Start date
Use my example. Put the money into a T-bill or something. That's considered risk free.
IndyColtsFan
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Good lord dude, seriously? I have not “just now” said this. I’ve said it the ENTIRE time!!!!
In a loan, WHAT IS THE GOOD OR PRODUCT?!?! IT IS THE MONEY!!! You are getting the money FREE OF CHARGE!!!!! I have told you this in REPEATED posts. Notice all those likes on my posts and other posts in agreement? It seems they all understood exactly what I said.
*facepalm*
See Joust’s post.
IndyColtsFan
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Just saw your edit. I never said the money you retained was free. I said any investment income from the money you saved was free.
You do understand that you can take houses and decent cars away from the person who fails to make their payments and the banks can recoup their losses? That's why banks are willing to make these large transactions because of this. Now anything under $20,000 for items that aren't really tangible to banks? It's basically a form of unsecured loans and they're betting that you make the payments.
GNUse_the_force
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Yes.
Just because a couple people liked your post doesn't mean anything. I could say the world was flat and you'd still find people who would like my post because they think its right.
You are NOT getting FREE MONEY off of these interest free loans from Amazon. Amazon is NOT GIVING YOU THE MONEY so that you can invest it and make money off of it. They give you the PRODUCT you purchased with THEIR MONEY. So unless this product you purchased makes you money, you aren't getting free money.
Go to Amazon, get one of these interest free loans, and see if they give you the money instead of the product. They won't. What you are arguing is opportunity costs based on money you saved/retained utilized in investments, not "free money".
I'm done debating, if you think its free money then so be it - I don't.
I think we've just reached a sort of philosophical boundary, and there really is no use making anyone feel bad about it.
IndyColtsFan
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You can lead a horse to water....
This was taught in my school. albeit that was no a US school.
There will be plenty of companies with a big enough wallet and greedy politicians to make sure this is neverana official taught subject in school.
Politicians and great companies has the best interest in keeping the population stupid
IndyColtsFan
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I’m done too. You have a wonderful night.
rich people use other people's money.
and some people take forever to save up enough money to buy an expensive item.
So this sorta forces people to jump in now and start paying installments. Otherwise people would probably never get around to ever buying the item.
$2000 item will probably take the average poor dude 20 months to save up for.
By that time, dude would probably have changed his mind.
and some people take forever to save up enough money to buy an expensive item.
So this sorta forces people to jump in now and start paying installments. Otherwise people would probably never get around to ever buying the item.
$2000 item will probably take the average poor dude 20 months to save up for.
By that time, dude would probably have changed his mind.
GNUse_the_force
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exlink, IndyColtsFan was very specific in his post, he qualified his statement and it was not a generalized comment as you are taking it. His statement was correct, and your argument to the contrary has not been.
You really should go back and reread his post as you originally quoted and not take his statement out of context. We all understand what you are saying, but we understand his post as well and I think you have drawn an incorrect conclusion.
This is not true.
Have you not heard of the FDIC?
https://www.fdic.gov/
Do you not know that you can invest in CDs and T-Bills at no risk and that the investments are secured and insured by the FDIC if they are made with a financial institution that is FDIC insured?
Now I'll admit these are not huge earners, but they are insured and they will not lose money in and of themselves. Could you come out poorer when you take inflation or other financial impacts into consideration, yes. But at the basic level, you can invest with a guarantee that your investment will not default or perform less than promised, they'll pay what they were intended to pay every time baring something major like a complete failure of the US Government.
Correct, insured up to $250k typically. So yes, CDs are FDIC insured and T-Bills are essentially considered "no risk" because they're backed by the guarantee of the US government.
But when I think of investments, I typically think of something that will net me greater return on higher interest rates. So yes, technically I was incorrect in that statement as I don't immediately think of CDs and T-Bills when I think of investments. I'll admit when I'm wrong.
Thank you, but I still stand by my argument.
Saturn_V
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The deal that Kaitan is describing is through the Amazon store card or Amazon Prime Store card. And Amazon DOES NOT own Synchrony Bank (GE Capital) the card issuer.
What's being detailed is Amazon's splitting the purchase into multiple payments on their own hook- something they've been doing with Amazon devices and Prime Phones for a while. (buy a $150 Kindle FIre, split up into six monthly *automatic* payments of $25 each)
Well, if I am going to accept your gracious admission then I should be gracious enough to allow you your own views on finances.
I relent
IndyColtsFan
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The interesting thing is that I do get this offer on the smartphone category, just not on the computer category. DAMN IT!
IndyColtsFan
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I do build my own, and Newegg is a great search engine for Amazon! Anyway, this financing deal was also supposed to be good for components as well, not just entire PCs.
Master_shake_
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mining on amazons dollar!
who's with me?!
who's with me?!
The safeguards are either:
A. You pay more upfront to cover what you would have paid in interest (you lose)
B. They have nearly trillion $ pockets and want to destroy all of their competition (Newegg, Fry's, Microcenter, Best Buy, etc.). Resistance is futile.
workshop35
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I got downvoted a bunch of times on reddit for saying 0% financing is still going into debt in a thread about this. Apparently kids these days dont think making payments equates to a loan...actually one said it outright
SamuraiInBlack
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If I had this option when I went to get my wife's engagement ring, I'd have been able to propose at least three years sooner. But my credit was in the shitter at the time, and nobody was going to let me spend that much on a ring even at a high interest rate.
It's easy to say "Oh just save that same amount of money in that time!". And I did. Good lord, did I work my ass off for getting the money for that ring! 17 hour days, five days a week, and another 10 minimum on Saturday. My boss had to literally walk up to me and tell me to take my ass home, that's how hard I was working to get my hands on that ring.
And just when I was getting ready to pull the trigger on getting that ring? BAM. LIFE HAPPENED. And it kept happening and eating my money. As soon as that comma showed up in my bank account? BAM, LIFE TOOK IT AWAY.
I finally managed to get a 3 week period where life must have forgotten, or found someone more interesting to beat up on. Pulled the trigger on the ring.
Monthly payments would have been manageable, even with life deciding that it needed to knock me around a little.
It's easy to say "Oh just save that same amount of money in that time!". And I did. Good lord, did I work my ass off for getting the money for that ring! 17 hour days, five days a week, and another 10 minimum on Saturday. My boss had to literally walk up to me and tell me to take my ass home, that's how hard I was working to get my hands on that ring.
And just when I was getting ready to pull the trigger on getting that ring? BAM. LIFE HAPPENED. And it kept happening and eating my money. As soon as that comma showed up in my bank account? BAM, LIFE TOOK IT AWAY.
I finally managed to get a 3 week period where life must have forgotten, or found someone more interesting to beat up on. Pulled the trigger on the ring.
Monthly payments would have been manageable, even with life deciding that it needed to knock me around a little.
You guys know HSN and QVC have been using this "equal monthly payments, no interest" thing for decades, right? Millions of housewives and insomniacs have taken advantage of this, and it's a core reason why the TV shopping networks were successful and still around in this internet age.
Amazon ain't breaking any new ground here, they're just getting access to more customers for big ticket (and big margin!) items using a proven business model. They're after the TV shopping network's demographic, as well as more of the WalMart demographic.
No coincidence Amazon also offers discount Prime memberships to retirees and people on SNAP (aka food stamps). They've already got the more affluent market covered, the real US growth market for them now is downmarket, and if they can learn to service "subprime" customers well in the US, they'll be poised to leverage that know-how as they open up 2nd and 3rd world markets in the future.
Amazon ain't breaking any new ground here, they're just getting access to more customers for big ticket (and big margin!) items using a proven business model. They're after the TV shopping network's demographic, as well as more of the WalMart demographic.
No coincidence Amazon also offers discount Prime memberships to retirees and people on SNAP (aka food stamps). They've already got the more affluent market covered, the real US growth market for them now is downmarket, and if they can learn to service "subprime" customers well in the US, they'll be poised to leverage that know-how as they open up 2nd and 3rd world markets in the future.