1 year contracts are usually set up with 20% down and the balance split over 12 equal monthly payments with interest added to the account at the time of purchase for the upcoming 12 months.
For Example:
If your purchase totals $800.00
Your down payment would be $160.00
Your monthly payments would be $58.78
There are no set-up fees as with bank loans and after the interest has been added to the account at time of purchase, no more interest will be added to your account unless you are late on a payment.
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