Quote:
Originally Posted by Koa
Depending on the firm's tolerance to risk, financing in house is a very attractive option for those looking to spread the cost of large items out throughout a specific set of time. Typically these firms will record the revenue as a "cash equivalent" item and therefore records it as a sale.. thus the no interest if paid in 6/12mo. They really want you to get those new tires or, in this case, FI kit 
Never will you see longer than 12 months for publically traded companies, as they're required by the SEC and GAAP principles to report all unearned revenue streams in excess of 12 months as a long-term item. |
So in that case, depending on the shop I ultimately choose, I can ask them if they do 12 month finance before I pull the trigger so to speak? It kind of makes it more attractive to pay monthly rather than throw all your money out in just one day. I've been saving this whole time thinking I needed to potentially dump $7,000 out the door haha.