0% Financing! No Payments! Free Money



The president (now retired) of the bank I work with, once told me if it sounds too good to be true it probably isn’t!  I have never forgotten those words as I worked through the first twenty-five years running Midnight Sun Pools and Spas.

Over the years, I have been subjected to offers, deals and all kinds of crazy marketing promotions both trying to sell me something personally and offer consumers options to buy my products.  There are so many out there, I will try to just pinpoint the big one we get asked about.

Free Money!  No interest, heck no payments!  What a deal right?  Wrong! Nothing is free, and there is a hook somewhere that hasn’t been clearly explained.  Sometimes consumers love these deals because they typically can result in a lower payment.  Normally, you choose between a cash-back rebate and the financial incentive (hopefully). It’s usually better to take the rebate, but that is not the point. 

Banks do not offer 0% financing, they would lose money.  A manufacturer can absorb the costs of the financing and offset the interest charges making you see 0% and no interest fees.

But think about the “True Cost of Ownership.” Would you not rather know that you are paying market price or below market price for a product to offset the depreciation?  I know I would, and that is why with the benefits of our Nationwide Buying Group, we purchase together on early buys to offer cash prices that are not only advantageous to you, but it helps us position ourselves as quality and value leaders going up against “Internet” pricing.

The most unpopular way for the consumer to engage in 0%, no interest, no payments program is when an unscrupulous dealer will advertise 0% financing on products that don’t have an incentive.  To do this, they just raise the price of the product to pay the lending institution the interest up front.  This goes back to the “True Cost of Ownership”. I would rather our customers buy at market price, or below market price, combine that with the values we offer and it’s a win for all.

Our customers are the best, they are smart and they truly “know the difference” Midnight Sun Pools and Spas offers.  By all means, don’t ever take finance advice from me or any hot tub guy. Take it from my old banker: “If it sounds too good to be true, it probably isn’t!”


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