Zero-percent financing! Instant approvals with no credit check! Poorcredit? Still get great rates!
There are ads online and in print which make no sense and are in fact clearly delusional or intentionally misleading; making statements and offers so far out of reality that how can they be taken seriously? Bait-and-switch tactics come to mind when lured into providing credit information, don’t qualify for the “preferred program” and then get stuck with double-digit interest rates and high documentation fees to pad the lender’s pocket. It happens in all industries but probably more so with lending. Another pet peeve are online payment calculators; in the late 90’s I worked with a company which had an online calculator with rates so low that only AAA credit would qualify and since Apple and Intel never applied, nobody ever got those contrived finance rates.
Let’sbriefly take a look at reality.
The adage, “if it seems too good to be real, it usually is” applies to financing offers which are outside of the industry standards for qualifying and approving requests for capital. Watch out for deals which engage you with a super-one-time-only program and then becomes so complex that you’re likely to accept a marginal finance offer due to emotional fatigue.