Lowes 0% is back

[BronzeTrader]

Its 5% everyday is great. Home Depot would have to match it. 

[washpadude]

Lowe's likes me this month, increased CLI 300>12,000 and sent me a reusable coupon for 18 months at 0% on $299 and up through 12/31/16.

[Anonymous]

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@pipeguy wrote:

I for one am a big fan of Lowes "special financing" however, the current promotion being offered is no big deal IMO. The 0% is only for 6 months witch is their 24/7/365 offer and the long term "project financing" is higher priced at 5.99, 6.99 and 7.99 depending on the length/terms.

I financed a new roof for 84 months at 5.99 (paid off in 36), that "deal" is now offered at 7.99% - still a good rate, but 2 points higher than 3-4 years ago and the fed rate has only increased .25 (1/4) percent.

As I said at the beginning of this post, I'm a big fan (and user) of Lowes special financing - and similar deals from Amazon-Sams-Walmart, et al, but the 6/12/18/24 Lowes offer is run 3-4 times a year, and the 84 month option is almost always available - this round of offers is a bit more expensive if you read the fine print.

Edit/Add: I'm about to pull the trigger of several thousand dollars in kitchen upgrades (Frig/Stove) Lowes & HD are running major promotions right now on appliances, so the "financing options" have been on my radar.

Edit: Checked a couple days ago and the 00% was only for 6 months, today iit says 6/12/18/24 - I stand corrected on that, but the 84 month is "more expensive" than it has been.

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For those with even bigger projects besides just some appliances, I would try to leverage some sign on bonuses for those bigger purchases if possible. Heck my friend did his roof and split the 15k 3 ways and saved quite a bit!  Seems like half the time the 3 or 4% fee for using a CC can be haggled down usually by way of the price of the project.  I am ok with using our lowes card for little things and paying it off monthly.  But if you are not buying when things are deeply discounted then the 0% offers really dont make much of a dent for added savings, nor does 5%. (YMMV based on credit score)

I remember when the 84 was a lower rate and that was awesome as long as you paid it off early. Oooof I hope there arent many folks that had deferred interest on that somehow where they tacked on 18 percent from the beginning if they didnt pay it off!  I know they do that with the 0% ones but unsure on the long term low rate.

Heck, get a home equity line of credit after you have done your research on what improvements have the highest ROI, pair the app with a credit union CC, pretty easy to get 10-20k limit with near prime rate for 2 years.  Never used our HELOC and probably never will but its there as a just in case and for emergencies only.

But yes for your appliance purchases NOW is the time.  Sears had some great deals on washer/dryers too.  And I guess its easier for folks to get big financing power via lowes/HD cc versus some of the rewards card bonuses....

This year I plan on doing 50pct of our xmas shopping through macys only because they take Plenti points and theres a 50% xfr bonus from Amex MRs.  1.5cpp isnt the best, but when you get 10% cash back on ebates or 5 amtrak points per dollar spent, it lessens the insanity a bit when you know macys egift cards from giftcardgranny are heavily discounted most of the time.

This black friday season has been strange.  Very spread out, lots of surprises, tons of money makers/freebies.....but gone are the days of waiting in the cold for 3 hours and getting a beautiful plasma tv for a great price.

[Anonymous]

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@Anonymous wrote:

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@pipeguy wrote:

I for one am a big fan of Lowes "special financing" however, the current promotion being offered is no big deal IMO. The 0% is only for 6 months witch is their 24/7/365 offer and the long term "project financing" is higher priced at 5.99, 6.99 and 7.99 depending on the length/terms.

I financed a new roof for 84 months at 5.99 (paid off in 36), that "deal" is now offered at 7.99% - still a good rate, but 2 points higher than 3-4 years ago and the fed rate has only increased .25 (1/4) percent.

As I said at the beginning of this post, I'm a big fan (and user) of Lowes special financing - and similar deals from Amazon-Sams-Walmart, et al, but the 6/12/18/24 Lowes offer is run 3-4 times a year, and the 84 month option is almost always available - this round of offers is a bit more expensive if you read the fine print.

Edit/Add: I'm about to pull the trigger of several thousand dollars in kitchen upgrades (Frig/Stove) Lowes & HD are running major promotions right now on appliances, so the "financing options" have been on my radar.

Edit: Checked a couple days ago and the 00% was only for 6 months, today iit says 6/12/18/24 - I stand corrected on that, but the 84 month is "more expensive" than it has been.

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For those with even bigger projects besides just some appliances, I would try to leverage some sign on bonuses for those bigger purchases if possible. Heck my friend did his roof and split the 15k 3 ways and saved quite a bit!  Seems like half the time the 3 or 4% fee for using a CC can be haggled down usually by way of the price of the project.  I am ok with using our lowes card for little things and paying it off monthly.  But if you are not buying when things are deeply discounted then the 0% offers really dont make much of a dent for added savings, nor does 5%. (YMMV based on credit score)

I remember when the 84 was a lower rate and that was awesome as long as you paid it off early. Oooof I hope there arent many folks that had deferred interest on that somehow where they tacked on 18 percent from the beginning if they didnt pay it off!  I know they do that with the 0% ones but unsure on the long term low rate.

Heck, get a home equity line of credit after you have done your research on what improvements have the highest ROI, pair the app with a credit union CC, pretty easy to get 10-20k limit with near prime rate for 2 years.  Never used our HELOC and probably never will but its there as a just in case and for emergencies only.

But yes for your appliance purchases NOW is the time.  Sears had some great deals on washer/dryers too.  And I guess its easier for folks to get big financing power via lowes/HD cc versus some of the rewards card bonuses....

This year I plan on doing 50pct of our xmas shopping through macys only because they take Plenti points and theres a 50% xfr bonus from Amex MRs.  1.5cpp isnt the best, but when you get 10% cash back on ebates or 5 amtrak points per dollar spent, it lessens the insanity a bit when you know macys egift cards from giftcardgranny are heavily discounted most of the time.

This black friday season has been strange.  Very spread out, lots of surprises, tons of money makers/freebies.....but gone are the days of waiting in the cold for 3 hours and getting a beautiful plasma tv for a great price.

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A former employee of mine paid late AND let the deferred period expire on a refrigerator that she purchased on her parents' HD card.  THAT was an expensive lesson.

Never never NEVER mess up deferred payments, it's very costly.

Lowes already cleared my deferred interest info (I just finished paying this month), but I think it was over $200 that I would have paid if I hadn't paid in time (I hesitate to use the word "saved" in this context, as I wouldn't have stretched out the payments, or probably paid at all, if the offer wasn't there).

I've already racked up $320 in deferred interst at Best Buy on my laptop (with about 6 months to go)

I find the best way to handle it is to figure out how many equal payments you need (there are few accounts where the minimum covers the deferred time period), pay that amt every month, and MAKE SURE TO PUT THE REST OF THE MONEY TO WORK SOMEWHERE ELSE (that last bit being the most important part, in my opinion)

[Anonymous]

I am buying a house and need new doors and not what.

is this correct..from their site??

"For New Accounts: Standard APR is 26.99%. Minimum interest charge is $2.00"

[Anonymous]

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@Anonymous wrote:

I am buying a house and need new doors and not what.

is this correct..from their site??

"For New Accounts: Standard APR is 26.99%. Minimum interest charge is $2.00"

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Yes, that's correct.  Reason 1 to 1001 why you dont carry a balance on the card unless you're using one of the 0% or low rate offers.  Most store cards coem with very high APRs like that.

[Anonymous]

I'm getting a new privacy fence using mine in the spring. I ended up talking to the guy. It's going to run about 9500 to have it done.
I talked to him about the special financing and he advised me they can negotiate the 0% financing term for longer and said he could do a year maybe longer. So some of their terms can be negotiated

[Anonymous]

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@Anonymous wrote:
I'm getting a new privacy fence using mine in the spring. I ended up talking to the guy. It's going to run about 9500 to have it done.
I talked to him about the special financing and he advised me they can negotiate the 0% financing term for longer and said he could do a year maybe longer. So some of their terms can be negotiated

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Very good to know.  Im afraid I'll be replacing my roof after this winter so I know I'll be looking at a hefty bill

[Anonymous]

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@Anonymous wrote:
I'm getting a new privacy fence using mine in the spring. I ended up talking to the guy. It's going to run about 9500 to have it done.
I talked to him about the special financing and he advised me they can negotiate the 0% financing term for longer and said he could do a year maybe longer. So some of their terms can be negotiated

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can you elaborate? Who exactly is "they" and was it based on spending tiers?

Please get back to us.. I have never heard this posted b4 Like Irish said.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
I'm getting a new privacy fence using mine in the spring. I ended up talking to the guy. It's going to run about 9500 to have it done.
I talked to him about the special financing and he advised me they can negotiate the 0% financing term for longer and said he could do a year maybe longer. So some of their terms can be negotiated

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can you elaborate? Who exactly is "they" and was it based on spending tiers?

Please get back to us.. I have never heard this posted b4 Like Irish said.

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They as in I called lowes and said I wanted a privacy fence installed, Lowes sent over someone who gave me the quote and we went over the finiancing. altho i had some 6mo same as cash thing, I asked him for what I'm spending is there anyway that can be extended and he said absolutely , He ( the guy that gave me the quote) can put all that in the deal when we do it in the spring. We didn't go over the exact max amount of time because it's about 30 degrees here so no way their gonna be digging fence post this time of year , but he said he could do a year or longer. 

Im also not sure about the tier thing. I just wanted it part of the deal or seeing if I could get it part of the deal as I have other cards that would be longer than 6 months same as cash still in effect. So I brought that up too about how I could use my CITI for the purchase and have a longer 0% finacing terms. They of coarse want you to use their card...