Upcoming DUI Financing...pretty disappointed

[Super]

Has anyone else noticed the fine print on the DUI web page about their upcoming financing? If my eyes don't deceive me, it states a 21 percent interest rate.

Wow! I was hoping to jump start my drysuit diving by financing it instead of waiting and saving up to buy one. But I'm not sure that I want to pay that much interest.

I do see where there is a same-as-cash offer for the first 12 months. I guess if I want to drop half or more down and then race to pay it off before the 12 months is up is a consideration. But then, I tie up a lot of moolah I had planned to use for other things, like classes, stage bottles, lights, etc, etc,...

Oh well. Whatever happened to the earlier words of my diving instructors..." Sure, diving is a little expensive at first. But once you've bought your own gear, it will last a long time and your costs actually decrease over time."

 

[diver 85]

I would think 'banks' if that is the case.............

 

[HowardE]

From what I understand the 21% would be if you don't pay off the product during the promotional period.

This is how all of the "90 days same as cash" type financing plans work (like at Best Buy). If you pay (IN FULL) during the 90 days, you pay no interest. Otherwise you're hit with 21% from the date of purchase.

The DUI 12 month plan is a small monthly price to pay vs. one large hit for a dry suit. That's the idea anyway.

 

[Hank658]

With the 12 month 'same as cash' option if you get a suit that is up near the top end, say $2500 and pay half up front then over the next 12 months it would be just over 100 bucks a month. Easier than finding $2500 lying around. And it allows you to keep some of it in the bank earning a bit (or these days a tiny bit) for you in the process. Better than forking out extra in interest, if it can be avoided.

 

[jepuskar]

You're complaining about one year same as cash? You do have alternatives:

1) Stay wet
2) Use your credit card and start paying interest immediately.
3) Go with another cheaper brand.

 

[DiverBizz]

$2500.00 and all the trimmings? I may be interested (looked at them last night in LDS). The cost is what turns me away. I want to be warm but not homeless trying to afford a DUI suit. I have heard(my LDS owner) that there are some other less expensive brands out there and they are ok. I guess if I really wanted a drysuit I would have to finance and pay the charges.

 

[jepuskar]

Exactly...you pay to play. Initially I went with a cheaper Neoprene drysuit, stayed away from DUI just because of the cost..a year later I was in a DUI and couldn't be happier.

Got very very little money for that Neoprene suit.

Try looking into White's Fusion...I hear its more flexible than a 3mm wetsuit.

 

[DivingPrincessE]

Wow that is great news!! I was at my bank yesterday and they are offering a promotional credit card that has one year of no interest, and I was thinking about signing up so I could use it to get a DUI suit. If DUI offers 12 months no interest, I'm sold!

 

[cowjazz]

Keep in mind the interest is probably deferred. The interest is accumulating based on the average balance during the promotional period. When your 12 months is up, you'll be hit with interest from day one if you do not pay the entire balance by the 12 month deadline. Don't pay off a portion thinking your remaining balance will only be used to calculate finances charges.

Still a sweet deal, but pay it off before you get hit with the finance charges.

 

[scubapatton]

I purchased the DUI CLx 50/50 last last year. Had the financing been offered when I bought last year, I probably would have grabbed it. I have bought a number of products under the same as cash no interest for x months plans and NEVER let it hit the anniversary date - avoiding all the interest accumulated. DUI is willing to take this interest float for you to get you in their products, but they certainly need a profit to show if it takes you longer than 12 months to pay the ~$2500. If they are going to float the interest for 12 months, great opp.

If you really think about your own finances, I bet you can find a way to "save" $200 a month from your normal living expenses toward a warm, cozy DUI suit....