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Tigz

anyone ever use Samsung Finance? got a question...

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Of course it isn't in their FAQs.  

I might need a new phone before birthday or xmas rolls around.  I don't have the dosh to pay for it outright....although I do have some I can put down on it.
Does anyone know if they will take a down payment to lower the monthly bill?  

For example, I want the S10+ with 512 gb at $1250.  (yes, I am groaning as well)  But I want to put several hundred down on it to bring down my monthly amount due.  Will they do that?

I could just put it on a CC....but hey, that 0% interest is nice.  
 

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You might want to repost over in the credit forums...more eyeballs there. 

 

I've never financed a phone (I bought my last two direct through BlackBerry) so I have no idea what your best option might be...other option is to let them finance the full nut and then just make a large payment on the first month to bring the balance down. 

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Aren't these offers usually free of finance charges?  Just withdraw one payment a month from savings.

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Posted (edited)

The finance terms are clear that the monthly minimum payment will be equal and determined as 1/24 of the initial amount financed.  Since it is a standard revolving account you could pay extra any time, but that would only reduce the number of payments not the amount of next month's required payment.

 

So the question is can you somehow split the price of the phone between "cash" down and an amount financed?  That's a purchasing question not a financing question.  You could fire up the Samsung App and go through the stages to buy the phone to see if that is ever offered.  I kind of doubt that it would.  As @cv91915 points out, there's no savings made by choosing to put more money upfront into a zero APR deal.  Take the money you have banked for the "down" and pay it out some each month as part of the payment. 

Edited by mk_378

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Thanks all.  
The issue wasn't "savings" per-se, (since it is 0% finance) the issue is more the lower monthly payment.  
A lot of changes going on in my life and I am trying to keep my recurring monthly payments down.  

I think I'll try to keep this one a little bit longer....a penny saved and all that. 

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What about opening a card that offers 0% for 12-15 months? I think there are a few Amex Blue products offering 15 months at 0%, my Chase I just got is 0% for 15 months. This would allow you to pay whatever you want down now, and then whatever else over the course of the promotional term. Another option to think about.

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34 minutes ago, Bad Doctor Frost said:

What about opening a card that offers 0% for 12-15 months? I think there are a few Amex Blue products offering 15 months at 0%, my Chase I just got is 0% for 15 months. This would allow you to pay whatever you want down now, and then whatever else over the course of the promotional term. Another option to think about.

hmmm, that's a good idea.  I was planning on shopping for a new card anyway.

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30 minutes ago, Tigz said:

hmmm, that's a good idea.  I was planning on shopping for a new card anyway.

Chase Freedom Unlimited is doing 0% for 15 (I think) months and 3% cash back for everything up to $20K in the first year right now. I just received my card Friday and I've already built up a nice chunk of rewards with just my usual weekend spending. There may be others with better benefits for your situation, or you may already have the card, but it's what I can think of off the top of my head. I actually had to buy a new phone just a few weeks ago, but I was lucky enough to have my old phone die in Prime Day so I was able to pick up a good deal on Amazon for a new one. Still, it was an unexpected $700 expense 🙄

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