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The Fine Print: What you need to know about 90-Day ‘Same as Cash’ Offers

By  ReLease90  ·  2 minute read
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The Hidden Costs in 'No Credit Needed'

Have you ever walked into a store and been tempted by the offer of "90 Days Same as Cash!" on furniture, appliances, or tires? It may sound like a fantastic deal - getting what you need now and paying later without any interest. However, it's important to be cautious, as this seemingly attractive offer can have hidden costs that you need to be aware of.

Here's the truth about 90-day same as cash agreements: they're not free. Not even close.

Beware of the 91 Day Trap: Once day 91 rolls around, you'll find yourself on the hook for the full price of the 12-month rental contract. This could mean paying double the invoice price or even more if you fail to clear the entire purchase amount within the 90-day time-frame.

Don't be fooled by the term 'Same as Cash' - there are still fees involved: Hidden in the fine print, you may discover additional charges to account for the 90-day buyout. These fees could be bundled into the leasing company's 'Cash Price,' which not only includes the original invoice amount but also a markup. Additionally, there might be a 90-day early buyout fee, ranging from $100 to 10%, depending on the specific lease-to-own company.

A Few Considerations:

  • Look for the best rates over the long term: Explore leases, loans, or credit card offers with lower rates that won't trap you with a "Same as Cash" offer. One example of this, is KleverWise, by Kornerstone Living, which offers a lower rate without 90 day traps and anytime buyouts that give you significant savings when you're ready to pay in full.
  • Consider a "ReLease90": If you already took out a lease, are within your 90 day window, and need more time to pay off, check out ReLease90 - Their mission is to buy out expensive lease to own contracts, and create new contracts with lower payments, lower rates, and better terms.

The Bottom Line:

90-day same as cash agreements can be tempting, but proceed with caution. Only consider this option if you're absolutely certain you can pay off the entire balance within the 90-day window. Otherwise, you might end up paying significantly more than the advertised price. Remember, responsible shopping requires planning and understanding the true costs involved. Don't let "Same as Cash" cloud your judgment!

Do you currently have a lease-to-own agreement?

Our team at ReLease90 is here to help you navigate your options and potentially save you from the pitfalls of traditional lease-to-own agreements. By evaluating your current or prospective lease-to-own contracts, we can determine if you qualify for our program, designed to offer more favorable terms and transparency throughout your leasing experience.
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Here are some additional resources on Same-as-Cash financing:

 
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