How to save with Gun's E-Z Own Low Interest Program.

For those who are interested in interest, this blog will be explaining the different interest programs Gun's E-Z Own offers.

Now the first option is to pay cash out right and you get a 20% cash sale discount on regular priced items. Here you pay zero percent interest and get to see my smiley face as I count the cash. I kid. You can pay with cash, check or credit card.

Let me first mention our regular interest rate up front. Our standard rates are 18.0%, 24.0% and 28.8% simple interest. We are a high risk lending institution and do not apologize for our rates. Heck, if you saw our books some months you would wonder why we don't charge more. : ) Anyway, the 28.8% is first time customers and problem customers who are always late with their payments. The 24% is used for our okay paying customers who maybe late 3-4 times per loan. The 18% is for our good customers who do not have any late fees and long time customers. So if you are a new customer and are at the 28.8% simple interest, you pay off your loan with NO late fees, we will lower you down to 18% on your next loan.

Now for our lower interest rate programs.

We have a 90 day interest free financing option. You would pay 10% down, make your monthly payment and pay your account in full within 90 days and you get your purchase interest free. So an example would be, for $1,000, you pay $100 down, and your monthly payment is $84.00 per month. You would pay your monthly payment of $84, not being late, for two months and on the third month you would pay your loan off. Zero percent financing.

We also have a 6% and 12 % interest program. And each of these programs works the same. You must pay the 10% down to qualify. Now this will be a little more difficult to explain. As to try not to bore you to tears, I will give a simplified explanation. There will be a little more to these programs. You can stop by the store and get more info.

Scenario: $1,000 purchase, $100 down and 16 months at $84 per month. This is at a 28.8% simple interest. We do up the contract. Let's say you tell us that you can afford $100 per month. With our 12% Interest program, we would have you to sign a form that you agree to make 12 monthly payments of $95.00 per month and have NO late fees, we would then credit your account any interest you paid over the 28.8% interest, so you end up only paying 12.0% simple interest.

For the 6% program, you would need to pay $182.00 per month for 6 months with NO late fees.

The nice thing about this program is that you can always opt out. So if the paychecks are not quite up to snuff you can say you wish to only pay the regular monthly payment and void the low interest rate program.

You must decide at time of purchase however if you wish to opt in this money saving program.

Phew, congrats, you made it through the blog. I get it, this stuff is tough to read, but I wanted to make you aware of these programs so you can save yourself some hard earned money.

Thank you for reading. Next time, I will be tackling questions Gun's E-Z Own receives about our Rentals. Rentals? yes, we do rentals as well.

Stay safe and have a blessed day.

How do I get financing at Gun's E-Z Own Financing?

Recently, my son was going to purchase a car from my father and needed a loan to do so. My son went to his bank here in town and they wanted documents from my dad like home mortgage papers, banking information, Tax return information and more. Then they wanted more documents from my son. Well why did they need my dad's info. he wasn't getting a loan. This can be very frustrating.

At Gun's E-Z Own, we make it as simple as we can. So what we have you do is fill out what we call a Customer Information Sheet, aka credit application. It only takes to 10 to 15 minutes to fill it out.

Page one of our CIS asks for your name, address and landlord name. Previous address, place of employment and their contact information.

Page two, we get a copy of your Driver's License and proof of your SSN. Four character references, two relatives and two friends all with different phone numbers and addresses. We try to get you approved within one day. Sometimes we have to fax stuff to employers and landlords and then they take a little extra time to get back to us.

Our minimum requirements are 3 months at your residence and 3 months at your place of employment. We ask all this information because we DON'T do credit checks. You must also live in our service area. Within 30 miles of Red Wing or Rochester.

If we can't get a hold of your employer and landlord in a reasonable amount of time, we will ask you to bring in pay stubs as proof of your employment and a copy of your lease or utility bill as proof of your residence.

Once approve you pay 10% of the retail price. For example if you wish to purchase a Sofa and Love Seat that retails for $999.99. You would put $100 down and pay an estimated $84 per month. It's works like a car loan. Put a down payment and make monthly payments on the loan.

Estimated, what do you mean estimated? Well there are different factors, such as what interest rate you would be at, do you need delivery and where is the delivery. We charge to deliver the product. (Hey, those chiropractic appointments to adjust my back don't pay for themselves.) Then we also offer credit insurance and extended warranties which would factor in.

People ask if we are a Rent to Own. NO, we are not. We hold an Industrial Loan License and we must follow the Minnesota Department of Commerce regulations. Speaking of which I better put this disclaimer in. You can read it or skip it. Sample Disclosure: for $1,000 loan, $100 down, 16 payments of $84 APR 31.62%.

So if you need financing, stop in the store or download our Customer Information Sheet and we will get you set up with some nice furniture.

Back to my son's loan. I told them to go to my bank, which they did. He filled out a two page loan application and got approved within two days.

Just like my son, who was able to get a newer car, you can get a loan for new furniture, appliances or electronics from Gun's E-Z Own, Which will make you happy. If that doesn't I'll have to tell you an Ole & Lena joke.

Next time, I will go over our different interest rate options. I will let you know how you can pay zero percent interest which will make you even happier. I don't know if it would make you happier than an Ole & Lena joke but it will be close.

Thank you for reading my blog. Until next time, Stay Safe and Have Great Day.

What kind of appliances & electronics/computers does Gun's E-Z Own carry?

The last two weeks I have volunteered time helping people from my church with their moves to other locations. Isn't funny how we accumulate items over the years and don't realize how much we have accumulated. I also found that I really hate stairs. Especially with a 1970's 16 cubit foot chest freezer in my arms. I know where you can get an updated chest freezer and it will be 50 lbs lighter. And more energy efficient.  But I digress.

Oh, look This week I just happen to be going over different types of appliances and electronics/computers we carry. Hmm, coincidence?

APPLIANCES

Let's start with appliances. We carry Crosley products. Washers, dryers, chest freezers, upright freezers, refrigerators and dishwashers. 

The next question who is Crosley. They have been around since 1920. Crosley started out with radios, then in the '30's got into refrigerators with the shelvador. I had a Crosley radio growing up. A little white box with a dial tuner. I wish I still had that radio. Crosley also manufactured cars in the '30 & '40's.

Why Crosley? Because they have a 10 year warranty. 1 years parts & labor and 9 years major parts. We do offer extended warranties to get parts & labor for the first 2 or 3 years. We have had very little problems with the Crosley brand.

Gun's E-Z Own also has access to LG, Frigidaire and Danby appliances, but those would be a special order. Danby has some cool items like camo freezers for the guys & wine coolers for the gals. If you have a camo freezer, how would you find it again? Just asking.

ELECTRONICS

On one of the moves I volunteered for, this gentlemen still had an old console TV. I didn't know those were still around. And man was it heavy. We put it on a two wheel dolly and wheeled up a steep hill to get it to the moving truck. It took one person pulling and three more pushing the dolly. It was like participating at the Vikings training camp with a blocking sled. Which reminds me that one of my favorite seasons is coming up. FOOTBALL. Got see the Vikings & Gophers on a bigger screen TV. And a TV that is much lighter than an old console TV.

When it comes to electronics/computers, we have many different options. Unfortunately we don't have a catalog for electronics. We have 4 different distributors we can order from. So just let us know what you are looking for and will ask our distributors if they have it or can get it.

We generally carry LG televisions on the floor. Typically 32" to 60".  For TV brands we can also get Sony, Samsung, Haier, Phillips, Vizio etc. The Haier TV's don't have a lot of features, but they have a great picture.

We can also order in stereos, soundbars and more. 

In the computer area there are many options as well. Laptop, desktop, tablets and the like. In general we carry HP & ASUS but have access to Acer, Dell & Samsung.

There you have it. Furniture, Appliances & Electronics all under the same roof. Now next week i plan to discuss our finance options and Cash Sales Discounts.

Have a wonderful week. Hope to see you in the store soon. Remember to like us on Facebook and visit our website at gunsezown.com. There you will find answers to common questions, what we have in stock and links to our distributors.

What type products does Gun's E-Z Own carry?

I hope you all had a safe and fun Independence Day weekend. My family & I spent time with friends & family. Watched some town team baseball and finished it off with fireworks.

After my last blog I ran into this apostrophe cartoon. You know, Gun's versus Guns.  I will exclaim that you might find it questionable. Then there are some of you that may not find it very punny at all. I hear a few of you yelling, "STOP IT!" Got to love the puns. : )

Alright, Alright, I'll get back on track. I'm suppose to be telling you the type of products Gun's E-Z Own carries.  The short answer is FURNITURE, APPLIANCES, ELECTRONICS & COMPUTERS.

This week I will focus in the furniture area. Here is part of the LONG answer and small list of what you can find:
Sofas                         Headboards
Love Seats                Chests
Chairs                       Dressers with mirrors
Recliners                  Night Stands
Sectionals                 Entertainment center
Futons                       TV Stands
Coffee Tables            Office Desks
End Tables                 Cabinets
Sofa Tables                Bookshelves
Dining Sets                Mattresses
Hutches & Buffets  

To list a few. But this is, in general, the types of furniture Gun's E-Z Own would carry. There are variations for instances, in sofas you can get them stationary, reclining or with a hide-a-bed. Coffee Tables can have lift tops, End Tables can have electrical outlets and USB charging ports. Furniture is our most diverse product lines that we have. I could go on and on and on, but I know your eyes would start glazing over.

If you would like to know what we have in stock, you can go to gunsezown.com, click on Products and then click on In Stock or click this IN STOCK link to go directly to the In Stock page.

We carry furniture from Ashley Furniture, Klaussner, Allwood Furniture and Kodiak Furniture. You can find links to our distributors on our website.

Through Ashley Furniture we can get pretty much anything listed above.

Klaussner is all upholstery; stationary and reclining, Sofas, loves & sectionals. All special order.

Allwood Furniture is all solid oak dining sets that are assembled right here in Minnesota. All very sturdy.

Kodiak Furniture is all futons and futon mattresses.

You can always give us a call at 651.388.3951 with any further questions you may have or e-mail us at gunsezown@gmail.com.

 Next week I will go over the other categories appliances and electronics/computers. Computers fall under electronics and that is where we place them on our website but for this purpose I separated them so you know we
carry computers.

Just an FYI. We also have a Facebook page, just search for Gun's E-Z Own.

We will catch you next week. Stay safe.