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70'' TV from BestBuy

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skifree179
Posts: 769 - Karma: 17
I want to get a 70'' tv from bestbuy and thinking about getting their credit card to finance it for 24 months, maybe put 300-400 down with a 1000$ limit, in reality it would only take me a few months to pay off. Has anyone done this? Is this a poor idea whats your guys input ?
Aug 28 2016 4:03PM
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250r
Posts: 2274 - Karma: 1,020
yea thats a dumb idea. you don't need a 70 inch tv...if you really want it save up for it and buy it all at once.
Aug 29 2016 2:04AM
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FishChowder
Posts: 244 - Karma: 221
You probably don't need it right away. If you can pay for it in a couple months, save your money and buy it in a couple months. Save yourself the few hundred bucks of insanely high interest you'd end up paying. You will be better off.
Aug 29 2016 9:13AM
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treebeard
Posts: 3589 - Karma: 1,065
you'll end up paying an extra couple hundred in interest. if you can't afford to pay it all now, you can't afford it
Aug 29 2016 4:41PM
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eheath
Posts: 61091 - Karma: 118,095
If the credit card is interest free for the first 12 months, sure.

If you have steady income, there is no reason you couldn't do this. But, be careful, it takes some willpower to not get caught into credit debt. If you think you can pay it off before you get charged interest, go for it. I did this with a computer a few years ago waiting on some freelance checks, had no interest for 6 months on a new CC and paid it off within like 2 months no sweat.
Aug 29 2016 4:54PM
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eheath
Posts: 61091 - Karma: 118,095
That being said, at 65" TV is like 500-700 bucks might as well go cash on that shit, unless you want like a $1500 4k tv.
Aug 29 2016 4:54PM
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.SHAGGY.
Posts: 1068 - Karma: 3,279
lol should be financing cars not tvs
Aug 29 2016 5:14PM
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CTD
Posts: 6300 - Karma: 348
you must really like porn to try to finance a 70" TV
Aug 29 2016 5:21PM
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CaptainObvious.
Posts: 5711 - Karma: 20,627
Terrible idea. Just save the payments for a year and then buy it downright.

General personal finance rule of thumb (with the exception of houses and cars) if you can't pay it off today, then don't finance it.

As in....if you have 10k in emergency savings that you simply don't want to touch unless ABSOLUTELY necessary and you're spending money is lower right now, then sure, finance it. Enjoy it, pay your bills on time and pay it off (don't let it accrue interest otherwise you're just wasting money). If you start financing and lose your job, then you need to be able to pay it off. Right then.
Aug 29 2016 5:48PM
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spliff.Life
Posts: 7847 - Karma: 1,550
250ryea thats a dumb idea. you don't need a 70 inch tv...if you really want it save up for it and buy it all at once.


I agree with this guy. But get 2 credit cards and get a 90 inch TV
Aug 29 2016 9:11PM
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JGWI
Posts: 2842 - Karma: 7,812
Did you just get this idea? Give it a couple days and I bet you won't want one anymore. It seems to me at least that there are a lot better things to do with your money than finance a tv.
Aug 29 2016 9:34PM
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grams.
Posts: 7406 - Karma: 186
Pretty bad financial decision. Potentially creating very unecessary debt for something to stare at on the wall. Nah.
Aug 29 2016 9:47PM
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S.J.W
Posts: 7609 - Karma: 31,182
You should never finance appliances. It'll end up costing you so much more than retail. Just save up as much as you can. If you can't save up, then what makes you think you can make repayments?
Aug 29 2016 9:50PM
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