Some frugal friends visited with us during the Holidays and told us about one of their friends.
Their friend browsed a laptop store and fell into a consumer trap.
A salesman convinced her to finance a laptop (because she was broke) for several years at 27% interest.
The next morning she called to cancel her purchase (buyrer's remorse), but was told she would need to pay a $500 cancellation fee per her contract.
So the friend decided to keep the overpriced, financed laptop instead of paying the $500 ransom.
My wife and I commented that we bought a laptop during Black Friday with Windows 8, touch screen and some other features suitable for our family for around $250. In cash- after our previous laptop died.
Lessons from this anecdote?
- Develop discipline to resist unscrupulous salesmen.
- Look to get more value for less price
- Pay as you go
- Live within your means
- Read what you sign
(Photo courtesy Wikipedia)
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