What Does 12 Months, No Interest, No Payments Really Mean?
You hear it all the time, especially in the furniture industry: "12 Months, No Interest, No Payments". Sometimes, it's called "12 Months, Same As Cash". What exactly is the meaning of this? Most consumers don't exactly know. It basically means that you have 12 months to pay off for the furniture that you bought without any interest. It does not mean that there are no payments for 12 months and then you begin to pay it off. Basically, during the promotional finance period, 12 months in this example, you have to pay off the entire balance. It doesn't mean equal payments have to be made each month during the 12 months. ...
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