Question

My family needs a new dining room table because we are all eating on TV trays. We really want to be able to have family meals around a table. We go to the local furniture store and find exactly what we want for $2500. The gentleman at the store says he will finance the table for us for $175 a month for 18 months. If I do this, how much TOTAL will I pay for the dining room table? Is there a better option? If so, explain.

Answer 1

If I were you, I wouldn't allow him to finance you. In the end, you will be paying around 100-600 dollars more. Unless you have that kind of money to spend. See if you can negotiate with him about interest or anything else he is interested in arguing about because in the end you still have to pay the 7% tax to buy it anyways. Otherwise, just buy the table outright.

Answer 2

It's better to just buy the table. It'll be more expensive to finance the table.

Explanation:

Finance the table= $3150 in total

buying the table=$2500