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.