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Synchrony Financial looks interesting and I would like to know more about. First impression is that it's interest rates are going to be high on specialty loans.
Any one have any information.
Looked at a Zero turn lawnmower the other day and it was company financed at 26% int. per year for four years. I tried to buy with cash and not negotiable on price. Also a car lot offered the similar terms on a used car at 22% over the life of the loan.
It's a new dynamic make some money on the product and a killing on the finance charges.
Thought that "Synchrony Financial" rang a bell. Wickipedia: "prior to its 2014 initial public offering, which raised $2.88 billion, Synchrony operated as a subsidiary of GE Capital".
I have an Amazon card that came originally through GE/Capital then later Synchrony. It's subsidiary, Synchrony Bank, is well known to people who chase CD rates as they are usually a contender in the last three or four highest.
Comments
Any one have any information.
Looked at a Zero turn lawnmower the other day and it was company financed at 26% int.
per year for four years. I tried to buy with cash and not negotiable on price. Also a car lot offered the similar terms on a used car at 22% over the life of the loan.
It's a new dynamic make some money on the product and a killing on the finance charges.
Is cash good anymore???
Derf