[Canche]

Are they up charging? I asked if the price would be the same paying cash and they said yes. Just want to know if there is something I’m missing…

[Sara]

They are hoping that people “forget” to pay after the 60 months and then they add ALL the interest from the past onto your account.

[Carol]

When I did this with Slumberland they did it by opening a Synchrony card and that’s how I made the payments. I didn’t miss any payments paid a bit extra to pay it off earlier and I didn’t get charged any interest at all.

[Megan]

The catch is if you don’t pay it off in 60 months you get charged interest from day one.

[Joy]

10 years ago I opened a luxury senior group home and went to Ashley and charged up $12k for an entire 4 bedroom home’s worth of furniture, rugs, lamps and even art. It was beautiful. They gave me a 36 month same as cash financing deal. I divided the $12k by 34 months and set up autopay for around $400 per month. I saved $3600 in interest by never paying late and paying it off 2 months before the deadline.

If you are a disciplined individual, same as cash is a great program for the purchaser.

[Lucinda]

Furniture stores, appliance stores (big ticket items, generally) often offer these payment plans because otherwise, most folks couldn’t/wouldn’t have that lump sum of cash to fork over. By offering these plans, the stores remove the largest impediment to their sales.

I’ve bought several appliances this way.

Just make certain to pay them off before they’re due – I would pay monthly, plus…

[Kendra]

We did the 12 months same as cash. There were no extra fees.

[Emily]

Allowing payment splitting generally leads to larger purchases and more money in the long run.

[Michelle]

I made a payment the last month over the phone and double checked it was the last payment, so my account was at a zero balance. Two months later I received a bill for the interest over the period of financing because there was no last payment processed by the associate.

I never noticed they didn’t pulled the last payment.. Seemed fishy.

[Charity]

The catch is Ashley furniture stinks.

Bought a brand new selectional couch and they tried to deliver it with two massive rips in the side. They told me I could just put in a service request to have someone come stitch it up. Lol nope. I paid $$$ for a new couch.

They couldn’t get the same couch on order for months and I opted for a different one. They delivered two pieces of the selectional and said the wait for the other two pieces was roughly six months. The pieces that came didn’t even go together.

Also, check out: Saved by DIY: A Frugal Solution for Broken Furniture

[Amy]

They are sure you won’t pay it off it 60 months and then they back charge interest.

[Sonja]

I got my furniture from Ashley with no interest for 5 years. Just make sure it’s paid off before the 5 year point. I have done it twice and never paid any interest.

[AmyTerra]

Hopefully they are just being competitive. I bought a bedroom suit from them a few years ago and it’s great quality, still looks like new!

[Cynthia]

I don’t know about Ashley but I don’t recommend Conns to anyone. I got a reclinable sofa there and it was supposedly 12 months at 0% interest, but then they added about 300 for “insurance”, 200 delivery, then another 200 that wasn’t specified. It went from a $1100 sofa to a $2100 sofa.

I love it, but still huge rip off.

[Astell]

There is no catch. It’s just very specific If it’s not paid off exactly by that date all of that Interest kicks in and there is NO amount of sweet talking your way out of it. Period

They stick to EXACTLY what they said and what you signed.

Pay it off well before and you’re golden. If you have the tendency to forget , don’t have a savings to cover should something happen then DO NOT do it. A couch isn’t worth it.

I personally never do these types of things. It makes me feel like I’m building my life on a house of cards. One thing goes wrong and it all comes tumbling down. I don’t fault others who do. I just know I didn’t have the back up plan infrastructure in place to handle it if something went wrong and I’ve seen the cascading damaging , long term effects these things can have. And now even though I can do it, I Jsut won’t. I like security. But I’m risk adverse in ALL things. I know many are not and are just fine. Just be SMART and WELL prepared and hold YOURSELF accountable to what you get into.

[Cass]

The catch is that its not with them its with Comenity Bank. Also Ashley uses the same warehouses as Raymour and others like Value City. Shop around before you settle with Ashley.

[Molly]

It’s just like credit cards that offer no interest for 18 months. They know a majority of people sign up and then don’t pay it off in full before the term length.

Usually, even if you have a balance of 1 penny left at the end, you have to pay the full interest for the entire original balance, and it’s usually incredibly high, like 29%.

[Tracy]

If it’s not completely paid in the 60 months, you pay ALL the interest from the first day, and its likely a horrendous rate. A hugecrisk as a consumer, in my opinion. A lot can happen in 5 years that could make you unable to pay the debt.

So, unless you have the full amount set aside in an interest bearing account, and then at the 58th or 59th month, pay it in full, it’s a risky deal. What if you lose your job, become disabled, or just forget to pay it, etc. Personally, I’d just save up to be able to pay cash and forget the financing.

[Maureen]

My experience with Ashley Furniture is that it’s very cheaply made. They don’t use springs under their sofa / loveseat / chair cushions. It’s just a fabric hammock that puts all the strain on very small points of the frame. Bought a couch from them recently. The frame of the seat broke once within 3 months and was repaired under warranty.

It broke a second time after the warranty was over. Buy something better quality.

[Kristy]

If your paying cash then there would be no added interest rate, as would be for someone that needed a line of credit, then they would get the 60 month no interest but if they didn’t pay it all back by the end of the term the interest would then be added on and I believe they back charge for interest.

The price of the furniture would be the same regardless but a few years ago I paid cash out the door for new living and bedroom set and got like 20% off because of it so ya never know, depends on your sales person.

[Jerry]

I’ve purchased furniture, automobiles, dental and vision work this way many times over the years and never had *any* problem. Just make the payments as agreed. Don’t be late. Set them up to pay automatically from your checking account.

Pay your very last payment early, and online or by certified mail where you would have proof of the final payment/date if you ever needed it.

Again, I’ve never had any problem and never known of anyone who has had a problem if they did what they agreed to do.

Sure, they make their money on people on those who *don’t* pay as agreed, but don’t be one of them.

[Author]

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