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0 down, 0 payments for 6 months on litespeeds....(5 posts)

0 down, 0 payments for 6 months on litespeeds....Bruno S
Dec 2, 2002 4:01 PM
I just saw this promotion on Litespeed web site. Anyone has bought a bike this way? Is there any catch?(must pay retail price, etc.) Is it difficult to qualify? I was looking at the Sienna but I am concerned may not fit me. I need at least a 60cm and they come in s,m,l and xl so I can't tell.
re: 0 down, 0 payments for 6 months on litespeeds....Fez
Dec 3, 2002 7:01 AM
If you can't afford it now, save up and buy it 6 months from now.

Buy it on your credit card and save the hassle of applying for credit on the Litespeed promo. I'm sure you will get charged bundles of interest if you don't pay it off in full after the 6 months.
re: 0 down, 0 payments for 6 months on litespeeds....Fez
Dec 3, 2002 7:03 AM
From the website:

Offer valid only on 2003 Litespeed Titanium bicycles purchased between November 1, 2002 and December 31, 2002. Offer not valid for email or Internet orders and is subject to credit approval. If loan amount is not paid in full by end of term, accrued interest of 21 percent will apply.
righttrekkie1
Dec 3, 2002 7:05 AM
The way these things usually work is that you incur no interest IF you pay in full within the time permitted. Be one day late, they add on something like 24% interest retroactively, back to the day you bought it. Not pretty.

If you do it, save the money well ahead of time, then send the payment plenty early to ensure it is credited before the time runs.

There will always be deals, now and later. Better to save the money ahead of time.
You can get these kinds of deals through most LBSsjtolleson
Dec 3, 2002 7:13 AM
Most bike shops offer financing for their high-end bikes, including 90 days, etc. same-as-cash options. That's how I bought my Litespeed four years ago.

As suggested, the key is being CERTAIN you pay it in full well before the due date, because the interest is retroactive and hefty. It is a revolving consumer account and they just hope you screw up. But if you don't screw up, it is a great way to buy a few more months to put together your $2500 or whatever.

Good luck.