Driveway Labs + Affirm = Better

[XtremeMaC]

If you're moving money from savings account or don't want your significant other to be like hon what's this 10k, where my diamond ring? then I see nothing wrong with financing especially at 0 APR...
Per Fico, if you manage the debt, you are financially more responsible. Don't quote me on that. I don't know if Affirm is soft or hard pull..

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[kaj]

Affirm is 0% of you pay it off within 8 weeks, so there's that. Better to save for 8 weeks, but that's me. APR shoots to up to 30% and is retro to your original amount if payments are extended past that.
You're not building your credit much, if at all, doing 8 week stints.
I don't see how anyone could think using financing/credit cards for modifications is a good idea.
Even at my poorest I never made that mistake I once did the math on what I would be paying for a set of wheels, on credit. That convinced me, forever.
If someone needs financing because they don't have the money now.... Just wait and see what your budget is like when you're making payments forever. LOL

 

[baagel]

Affirm is 0% of you pay it off within 8 weeks, so there's that. Better to save for 8 weeks, but that's me. APR shoots to up to 30% and is retro to your original amount if payments are extended past that.
You're not building your credit much, if at all, doing 8 week stints.
I don't see how anyone could think using financing/credit cards for modifications is a good idea.
Even at my poorest I never made that mistake I once did the math on what I would be paying for a set of wheels, on credit. That convinced me, forever.
If someone needs financing because they don't have the money now.... Just wait and see what your budget is like when you're making payments forever. LOL

You make some fair points, though I think you're crossing the line between "financing for free" and "traditional financing".

Speaking for myself, I agree that I'd never finance mods and pay interest (or any other CC purchase for that matter).

0% interest is a completely different scenario and that's something that can be used to my advantage, responsibly. I am certain that I can pay it off within the allotted timeframe before committing to it.

I agree that Affirm's 8 weeks is pretty weak, I've never used it. For anything that I'd like to finance for free, PayPal has a revolving line of credit that gives you 6 months before they start charging interest retroactively.

At the end of the day, it all just goes back to what I originally said. Debt can be a powerful tool, but most people don't know how to use it properly or responsibly.

 

[kaj]

You make some fair points, though I think you're crossing the line between "financing for free" and "traditional financing".

Speaking for myself, I agree that I'd never finance mods and pay interest (or any other CC purchase for that matter).

0% interest is a completely different scenario and that's something that can be used to my advantage, responsibly. I am certain that I can pay it off within the allotted timeframe before committing to it.

I agree that Affirm's 8 weeks is pretty weak, I've never used it. For anything that I'd like to finance for free, PayPal has a revolving line of credit that gives you 6 months before they start charging interest retroactively.

At the end of the day, it all just goes back to what I originally said. Debt can be a powerful tool, but most people don't know how to use it properly or responsibly.

There are "okay" options out there, I'm just trying to focus on the topic of the thread (Affirm), particularly in response to the post above mine about 0%, blah blah blah

 

[Carl - Driveway Labs]

It's like that fat girl that everyone has as their Saturday night backup that you don't tell anyone where you disappeared to

tell me I'm lying

 

[kaj]

It's like that fat girl that everyone has as their Saturday night backup that you don't tell anyone where you disappeared to

tell me I'm lying

Like riding a scooter?

 

[Mason]

We are all idiots here. We all bought super impractical cars then proceed to throw money into it.

Can forum historian @zrk find that thread that brought all of us idiots together?

 

[Carl - Driveway Labs]

Like riding a scooter?

exactly. I got some hard miles on a few scooters, took me off some sweet jumps

 

[kaj]

exactly. I got some hard miles on a few scooters, took me off some sweet jumps

P.S. I want to commend you on how you handle all of our trolling. There's not many of us who are able to NOT let it get under our skin. ANNNNDDD being a vendor, it demonstrates well for your brand. Props, dude.

 

[Carl - Driveway Labs]

P.S. I want to commend you on how you handle all of our trolling. There's not many of us who are able to NOT let it get under our skin. ANNNNDDD being a vendor, it demonstrates well for your brand. Props, dude.

bitch I am the troll king.

 

[FlammasWRLD]

Affirm is nowhere NEAR 0%, so ....

Usually is if you pay it off within a certain amount of time. Usually have saved up near $8k by the time I've reached the point of gaining interest, so things get paid off before that point all the time. Either way I can afford it and never lose much money doing it.

 

[rwense]

I usually finance or throw them on the credit card. Sure I could drop $3000 all at once. I would much rather keep that extra $3000 in my bank for an emergency and just make payments though. If it's 0% APR that is.

This man is spitting facts

 

[Kolme]

I feel like using affirm to buy car mods would be a better financial choice than the home I just bought if it matters..

 

[kaj]

I feel like using affirm to buy car mods would be a better financial choice than the home I just bought if it matters..

Right? Because equity and a forever line of secured credit is a terrible choice, compared to car parts at 175% of MSRP.
Kidding. I'm from the old way of thinking so just trying to be funny.

 

[Carl - Driveway Labs]

Right? Because equity and a forever line of secured credit is a terrible choice, compared to car parts at 175% of MSRP.
Kidding. I'm from the old way of thinking so just trying to be funny.

yeah that $799,000 for a $110,000 home at 6% interest on 11% inflation is solid

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