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View Full Version : Bill Me Later on Towerhobbies, questions..



Billage
12-08-2003, 04:03 PM
Im considering using bill me later to buy a savage 25 with 4 gallons of fuel, the battery pack, and a long glow plug... that'll come up to about 530-550$

Anyone know how to find out the monthly payments for that? And the interest rate? If i were to do it it would be using my parents' credit and i want to make sure i'll have enough money not to screw them over... although they'd make a payment if i couldn't, they'd still be pissed haha

Also wondering, how long do they let you make payments? A period of how many months?

tallcracker
12-08-2003, 04:24 PM
i have used it before, but i always pay it off the first of second month. if i have about 100 bucks on it i think it says the minimum paymant is about 20 bucks. so if it is about 550 i would assume 100 bucks, but it may be a lower percentage due to the increased amount your purchasing. i think the intrest is like 17.99% percent. i only use it because it saves me from having to enter my CC # everytime and it is pretty convienent.

Billage
12-08-2003, 04:44 PM
Wow, that's insane
guess i'll just start saving

RichieRich
12-08-2003, 05:01 PM
Bill Me Later is like a credit card. They charge an APR of 17.99%. This is about average for most credit cards, though why not use a regular credit card?

They try to entice you with a low payment. "Payments as low as $13 per month". This is bad, because if you payed $13 per month on $530-$550, you'd pay it off 4.5 years from now. Plus you'd pay over $160 in finance charges. So, your $530 truck's price becomes over $700.