When the Handy Husband had LASIK last month, we were offered 0% financing for 24 months. Take it, I said! In perusing the fine print on the paperwork, I noted the fact that if you took longer than 24 months to pay, the interest went up to a WHOPPING 26.99% Scary. I made sure to read all the fine print when we got the first bill.
If you pay only the minimum payment ($143.00) you will pay off the balance in 15 years and will pay an estimated total of $10,411.00. If you pay $157 you will pay off the balance in 3 years for a total of $5,655.00. (The interest rate is not actually 0%, the 26.99% is deferred for 24 months keps on adding up.)
We only financed $3800. That requires a payment of $158.34 for 24 months. I'm going to pay it off as soon as I can.
When you think something's too good to be true, you're probably right.