I am very against financing purchases.
I don’t see the point of a payment plan.
I would rather get all that expense done right away rather than have it hang over my head. If I can’t afford to buy it right there and then, I pass on it. I recently did finance an expense because I wanted and needed it. I will say, this financial plan isn’t so bad. I worked with my HVAC guy and got a low interest rate on a payment plan for my new HVAC system. I was going to get a central heating and cooling machine in my home. I could afford it right away. I started talking with the HVAC business owner about my options and he highly advocated a geothermal heat pump. You get both heating and cooling in one unit. The geothermal unit has a loop system buried underground. It takes existing heat energy from underground and pumps it into your home for a heating effect and does the reverse for cooling. Think about it. In the winter the ground temperature is much warmer than the air. It is cleaner using this style of HVAC system too. With a geothermal heat pump you can also have HVAC zone control. The system had such a high price tag that it scared me. The financing option with the low interest rate made it possible. I also saw statistics on how the heat pump energy savings do pay back for itself. So long term I am making a better financial decision.