Enabler Alert! Brother has 0% financing!

[Cat n bull]

I noticed a couple people mentioning the 0% financing offers from a few machines manufacturers. MOST of them use the GE Home Designs card, so it is not strictly a manufacturer thing. (My dealer gets me 0% for just about every purchase).

Anyways, Brother is advertising 0% on some of their SWEET machines. Just passing the info on in case anyone is looking for a new machine right now.

Brother International - Home Sewing Machine and Embroidery Machine

[Fabriclovr]

Re: Enabler Alert! Brother has 0% financing!

Interest rate on the GE Home Designs card is 28%! I really don't call that free... JS

[Jean Sewing Machine]

Re: Enabler Alert! Brother has 0% financing!

GE is 0% for 6 months. That's how I have financed the last 4 machine purchases. I always do this to make the pain a little easier. Ask for it. You can't do it for lower end machines, usually it needs to be over $1000 financed.

[Cat n bull]

Re: Enabler Alert! Brother has 0% financing!

Interest rate on the GE Home Designs card is 28%! I really don't call that free... JS

What are you talking about? What is free?

Right now they have an offer, 36 equal monthly payments, no interest.

?????

[Cat n bull]

Re: Enabler Alert! Brother has 0% financing!

GE is 0% for 6 months. That's how I have financed the last 4 machine purchases. I always do this to make the pain a little easier. Ask for it. You can't do it for lower end machines, usually it needs to be over $1000 financed.

This is GE Jean! Just a different promo.

[Jean Sewing Machine]

Re: Enabler Alert! Brother has 0% financing!

This is GE Jean! Just a different promo.

Your dealer can often get the 0% 6 month same as cash even if it isn't a promo run through the manufacturer.

Manufacturers can give the longer promos, which is great for high dollar machines. BabyLock ran a 48 month 0% financing deal on their BabyLock Crown Jewel at $27K through a seminar I attended a couple if weeks ago. Of course, you had 3 hours to decide to pull the trigger on that one! Needless to say, I did not go there!

[Fabriclovr]

Re: Enabler Alert! Brother has 0% financing!

Read the fine print. Miss or be late on one payment and the FREE stops and it won't be your fault.. Also beware, they change the due date on the financing every month. You can not pay on the date due, it will be late, you must pay your bill at least 5 days in advance of the date shown and they keep changing the date. READ you bill and the next date due, you will see it is not the same date every month. They are based on a 28 day cycle... Just Saying, BEWARE of GE CREDIT! Nasty company to get involved with, they are all roses and free financing now, but when you get all of the paperwork in the mail, READ, not good company to do business with. Any yes, I did finance a machine through them, this is how I know.

[Cat n bull]

Re: Enabler Alert! Brother has 0% financing!

Your dealer can often get the 0% 6 month same as cash even if it isn't a promo run through the manufacturer.

Oh, yes that's what my dealer does Jean!

[Fabriclovr]

Re: Enabler Alert! Brother has 0% financing!

†Offer applies only to single-receipt qualifying purchases. Valid on purchases of Entrepreneur® Pro PR1000e, Quattro® 3 Trilogy Limited Edition Innov-ís 6750D, DreamCreator™ XE Innov-ís VM5100, DreamCreator™ Innov-ís VQ2400 and PE-DESIGN® NEXT, made at participating Authorized Brother Innov-ís Dealer locations between March 13, 2014 and March 22, 2014. No interest will be charged on promo purchase and equal monthly payments are required equal to 1/36 of initial promo purchase amount until promo is paid in full. The equal monthly payment will be rounded to the next highest whole dollar and may be higher than the minimum payment that would be required if the purchase was a non-promotional purchase. Regular account terms apply to non-promotional purchases. For new accounts: Purchase APR is 29.99%; Minimum Interest Charge is $2. Existing cardholders should see their credit card agreement for their applicable terms. Subject to credit approval. Prices set by dealers may vary. The Best Buy Seal and other licensed materials are registered certification marks and trademarks of Consumers Digest Communications, LLC, used under license. For award information, visit ConsumersDigest.com. Visit a participating Authorized Brother Innov-ís Dealer location or Brother International - At your side for all your Fax, Printer, MFC, Ptouch, Label printer, Sewing - Embroidery needs. for terms & conditions. ©2014 Brother International Corporation. All rights reserved. Brother Industries, Ltd., Nagoya, Japan.

[Cat n bull]

Re: Enabler Alert! Brother has 0% financing!

Read the fine print. Miss or be late on one payment and the FREE stops and it won't be your fault.. Also beware, they change the due date on the financing every month. You can not pay on the date due, it will be late, you must pay your bill at least 5 days in advance of the date shown and they keep changing the date. READ you bill and the next date due, you will see it is not the same date every month. They are based on a 28 day cycle... Just Saying, BEWARE of GE CREDIT! Nasty company to get involved with, they are all roses and free financing now, but when you get all of the paperwork in the mail, READ, not good company to do business with. Any yes, I did finance a machine through them, this is how I know.

I have had GE Home Designs for years, and have never had ANY of these issues. When you pay online, it IS your responsibility to understand the processing time. Some places have instant payment credited, some places have a few days wait. Just like if you pay by mail, it is YOUR responsibility to understand how long it will take to process your check. You agreed to have the payment CLEARED by the due date.

This is not new, or unique to GE. This is the way ALL billing works! If you know this particular one has a 28 day billing cycle, then there are NO surprises.

Of course everyone should read what they are signing and UNDERSTAND it before they take the money from the company.

[Jean Sewing Machine]

Re: Enabler Alert! Brother has 0% financing!

Well thanks Fabriclover for the heads up, I will read my agreement. Like I said, I've financed 4 machines through them and I guess I was lucky not to get dinged. I have done the same with Apple products and Carrier AC units( different lenders), always with the understanding that if I missed a payment, it would all go to full 28% ( or whatever % rate). I try to pay with a week or more to spare, so as I said, I guess I've just lucked out not to have the full amount due because of a late payment.

You can always just pay the whole thing off to avoid the finance charge if you get into this situation. Not so easy if it is a $27,000 machine!

[Cat n bull]

Re: Enabler Alert! Brother has 0% financing!

[COLOR=#666666] No interest will be charged on promo purchase and equal monthly payments are required equal to 1/36 of initial promo purchase amount until promo is paid in full. The equal monthly payment will be rounded to the next highest whole dollar and may be higher than the minimum payment that would be required if the purchase was a non-promotional purchase. Regular account terms apply to non-promotional purchases.

This is saying that for these particular machines, you divide the purchase price by 36, and pay that minimum every month to still qualify for the deal.

If you deafult on your end of the agreement, you will no longer be eligible for the deal.

If you already have a GE card, your interest rate on NON-PROMO purchases is per your already existing agreement.

If you are getting a NEW account for this promo, your interest on NON-PROMO purchases is 29.9%.

So, best to take advantage of the promotion and only pay for the machine, not interest!

[Cat n bull]

Re: Enabler Alert! Brother has 0% financing!

Well thanks Fabriclover for the heads up, I will read my agreement. Like I said, I've financed 4 machines through them and I guess I was lucky not to get dinged. I have done the same with Apple products and Carrier AC units( different lenders), always with the understanding that if I missed a payment, it would all go to full 28% ( or whatever % rate). I try to pay with a week or more to spare, so as I said, I guess I've just lucked out not to have the full amount due because of a late payment.

You can always just pay the whole thing off to avoid the finance charge if you get into this situation. Not so easy if it is a $27,000 machine!

If you pay late, you are lucky to just get the finance charges added back in, and not also get hit with a penalty rate!

I do understand that sometimes stuff happens. But it is not some big surprise that finance companies expect you to pay your bill by the due date! WHAT company only has the due date as an arbitrary date anyways????

[Genny]

Re: Enabler Alert! Brother has 0% financing!

When I purchased my last high ticket machine I went to our bank and got a personal loan with 4.99 percent interest. For me it seemed much safer then taking the chance of paying 28 percent interest. This may not work for everyone...but it worked for me.

[Cat n bull]

Re: Enabler Alert! Brother has 0% financing!

When I purchased my last high ticket machine I went to our bank and got a personal loan with 4.99 percent interest. For me it seemed much safer then taking the chance of paying 28 percent interest. This may not work for everyone...but it worked for me.

Just curious, what penalties are there through your bank if you don't pay as agreed?