I want to buy a TV, stores have 0% financing, I have used (and paid off) 3 of these plans in the last 2 yrs. But I got an idea.. does anybody know if I am correct in this thinking? I can’t understand how the credit card company let me go for 1 yr with no interest and I paid it off with no extra charges, I think the store discounts the price to the credit card company. I want to go to the store, apply for the 0%, make my best negotiation on price, then tell them instead of 0%, I’ll pay cash but discount me the 18-20% that I believe is being discounted to the credit card company to “prepay” the interest. Does anyone know if this is right?
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You can try, nothing to lose. If they wouldn’t bargain just take the interest free loan.
It is unlikely to be 18-20%. If there is a discount, it may be 4-5%. There is nothing wrong with your approach except that they may say no. On the other hand if you agree on a price and then say “How much will you reduce the price if I pay cash?” They may give you a reasonable discount. It can also depend on whether your are talking to a manager or a low-level sales person. The manager has more leeway in making such decisions. The sales guy may say no, but you could always ask him to ask his manager.