I purchased a tv on black friday and used acceptance now. I knew I would do the 90 days same as cash option.
I just went to hhgregg to pay it off and found out I still owed over 400 dollars? I said how the heck is that possible? I have made 5 payments of $159.92 plus an initial payment of $75. That totals $874.60.
The paperwork that I have right in front of me says my 90 day option total was $1068 which meant, I owed $193.40. Only 125.90 was going towards my payments on the tv, the rest was going towards their "processing fee and insurance" on the TV I was purchasing, therefore that meant I had only paid $629 on the TV and the $75 I paid for as the initial payment didn't go towards anything I paid for, it never goes toward the principal. So on my 90 day same as cash option for $1068, I ended up actually paying $1,287.
There is not ONE thing on my contract that says any of this. Shady *** company, they will make tons of money off of you even if you can pay it off in 90 days.
Product or Service Mentioned: Tv.
Reason of review: Pricing issue.
Monetary Loss: $210.
Preferred solution: Price reduction.