Budgeting
ByMitchell
90 days same as cash sounds too good to be true, but does it really offer the perfect combination of low cost and convenience that you’ve been looking for? In this blog post, we explore both sides of the 90 days same as cash equation – from potential blessings to hidden traps. Get ready! We’re about to dive into whether or not this type of financing could end up being your dream purchase…or your financial nightmare.
Table of Contents
What does 90 days same as cash mean?
90 days same as cash is the buying power to instantly take home the product or service you desire now and pay for it later within a three-month grace period. It’s like a mini loan that allows you to purchase goods with no upfront payment, no hidden charges, and most importantly, zero interest if paid in 90 days.
This type of financing comes with flexibility and convenience; however, it’s important to understand that failing to make payments on time can result in costly penalties. In other words: beware, or risk being burned!
How does 90 days same as cash work?
90 days same as cash is an attractive option for consumers who can’t afford to pay in full right away. It requires no down payment and allows shoppers to buy something and then make installment payments over 90 days.
You get all the benefits of purchasing your item immediately while still having some time to pay off the total cost. If you abide by the rules and make a payment within the given timeline, you get the added benefit of purchasing it “interest-free”, which can save you money over standard financing options.
What are the benefits of using 90 days same as cash
Let’s take a look at how using a same-as-cash offer could be a good option for your situation.
Can buy without saving
Looking to make that purchase but are short on cash? Well, you don’t have to put off shopping any longer! Thanks to 90 days same as cash offers, you can take advantage of your favorite deal now and spread out the cost over three months. This way, you won’t have to worry about coming up with a lump sum on the day of purchase or wait until you’ve saved up enough.
It's a loan without the bank
With 90 days same as cash, it is like having a mini loan without ever having to go to the bank. Through this flexible and economical payment plan, you can spread out your payments evenly. Doing so over equal monthly payments for up to three months – with no interest if paid in full before the date of expiration.
Unlike banks, there are no hidden fees or credit approval. All you need to do is make sure you meet the minimum monthly payments required throughout those 90 days. With 90 days same as cash, you can buy what you want now and pay later – perfectly equalized so that it makes sense for your wallet.
What are the risks of using 90 days same as cash?
Same as cash offers can be tempting, especially when you feel like you’re getting something for free. However, they come with risks that should not be overlooked.
Minimum purchase
In most cases, a minimum purchase needs to be made or a minimum payment required during the promotional period to qualify for the same as cash offer.
Accrue interest if not paid off in 90 days
Also, if the balance isn’t paid off within the stated timeframe, then you will accrue interest on the entire purchase price, not just what is left to pay. For example, if you purchased something, same as cash, for $1,000 and in 3 months paid off $800, you would owe interest on the entire original cash price of $1,000, not just the $200 remaining.
These same as cash offers may seem like a good deal, but unless you pay off the entire amount during the promotion period it may end up becoming a financial burden down the road.
Should you be purchasing furniture with 90 days same as cash?
Let’s look at a few scenarios where using 90 days same as cash could be a good or bad idea.
Is the furniture a want or need
Before you make the jump from window shopping to buying a new piece of furniture, it’s important to answer one key question: is this a want or a need?
You may be tempted by an attractive sale item, but make sure it is essential before you enter into a same-as-cash contract. Spending money on wants instead of needs can quickly add up and turn into debt. Take the time to make a smart purchase that won’t lead to future financial regret.
Are you able to afford it
If you have the financial means to pay back the full amount within 90 days same as cash, that’s like a free loan! This can be an advantage because no interest accrues during these three months, meaning more money in your pocket.
Of course, 90 days is not exactly a long-term loan, so keep this in mind if your purchase is something you will use for years – it may be worth considering other financing options with more flexible repayment plans.
It is cheaper to just wait and save
Going into debt for furniture may seem like an easy way to get the pieces you want for your home, but this often comes with a hefty price tag. If you don’t mind waiting, it can be much smarter to simply save up and pay for the furniture outright.
Not only is this better for your wallet in terms of interest charges that come with financing, but it can also be helpful from a mental standpoint; With no repayment due for 90 days, you can rest easy knowing that you’ll have plenty of time to bask in the comfort and pleasure of your new furniture. So if you’re looking for furniture and only have a limited budget at the moment, why not wait and buy what you want when you can pay with cash?
Conclusion
Buying with same as cash can be risky. While it may be tempting to buy now and pay later, you could end up paying more in interest and fees than if you had waited to save up and pay for the furniture with cash.
Before making a decision, consider whether or not you can afford to pay for the furniture in full within 90 days. If not, it may be better to wait and save up so that you can avoid paying interest and fees on your purchase. What do you think?
