Google Payment Plan

[lrrowley]

Has anyone purchased/pre-ordered through Google with the payment plan? If so, what was the process like? What was the application process? Were you approved right away, or do you have to wait for approval?

 

[gabbott]

A friend did it and the approval process is instantaneous and just part of the checkout process.

 

[krisguy]

Google is using Synchrony Bank as their financer for this one. That bank provides most in-house financing for retailers, and they are very strict and aggressive on late payers. The results are instant when you order, but make sure you have a good plan to pay on time. I had some medical issues and missed a payment for another product last week. I told them to take the payment this Friday, but i'm still getting dialed. (sorry for the rant)

 

[klau25]

I did for the 32 gig xl. they ask for income, and approved me right away. I did read that someone didn't get instant approval, but didn't get denied either. just told him they will notify him later with a decision.

 

[Scott Shrewsberry]

I financed as well. Like others have said, it was instantaneous. The interest rate fee is something like 29.99% though. Pretty dang high. I'm hoping to knock this out in like 4 months so hopefully I won't have to worry about the 24 month payment or late fees. Btw, 32GB XL with protection is what I got. With tax and everything >$900!!!!

 

[Richard Servello]

I financed as well. Like others have said, it was instantaneous. The interest rate fee is something like 29.99% though. Pretty dang high. I'm hoping to knock this out in like 4 months so hopefully I won't have to worry about the 24 month payment or late fees. Btw, 32GB XL with protection is what I got. With tax and everything >$900!!!!

That's ridiculous!!! Paid cash. I would never finance anything but my car.

 

[Scott Shrewsberry]

That's ridiculous!!! Paid cash. I would never finance anything but my car.

Well, I just chose to go that route. I should have paid cash, but..... that's the American way I guess. I finance things when I need. House and car are the two biggest things of course. Not that I have bad credit scores, but it doesn't hurt to keep them high and a decent way to do that is to finance things from time to time. At least for me.

 

[ncapp11]

That's ridiculous!!! Paid cash. I would never finance anything but my car.

Maybe it's not for you, but I definitely wouldn't call it ridiculous. I believe it's 0% APR if you pay on time so essentially it's free money. You can invest the money elsewhere. As long as you're properly leveraged it's a wise financial decision. It's what rich people and good businesses do all the time.

 

[bhatech]

That's ridiculous!!! Paid cash. I would never finance anything but my car.

That's after 24 months... Nothing ridiculous about it. Almost, every 0% finance offer will be like that. After the promotional period ends interest will be crazy high. Just set up automatic monthly payments to pay off within 22 months and you will be fine. I said 22 just to have buffer of 2 months before the financial offer term ends.

 

[Robbie317]

it's 0% interest for 24 months so that isn't THAT bad of a deal......

 

[Lilybell2]

I charged the Pixel XL on my credit card. When the bill arrives, I'll pay it in full. That's just the way I use my credit cards. If I don't have the money set aside to pay the bill in full when it comes, I don't buy. I have excellent credit, and I don't have to sweat payments and/or interest rates.

That's just what works for me. Everyone has to do what works best for them.

 

[Almeuit]

I financed as well. Instant approval and phone is on pre-order status.

 

[Richard Servello]

Maybe it's not for you, but I definitely wouldn't call it ridiculous. I believe it's 0% APR if you pay on time so essentially it's free money. You can invest the money elsewhere. As long as you're properly leveraged it's a wise financial decision. It's what rich people and good businesses do all the time.

I was responding to 29% interest.

 

[EnemiesInTheEnd]

Maybe it's not for you, but I definitely wouldn't call it ridiculous. I believe it's 0% APR if you pay on time so essentially it's free money. You can invest the money elsewhere. As long as you're properly leveraged it's a wise financial decision. It's what rich people and good businesses do all the time.

Don't they charge you automatically every month so you can't be late anyway?

 

[gabbott]

Don't they charge you automatically every month so you can't be late anyway?

Not unless you setup automatic payments on your synchrony account

 

[mountainman]

Not unless you setup automatic payments on your synchrony account

Yup - so don't forget to login and set it up!!!

 

[ncapp11]

I was responding to 29% interest.

Agree there but my main point was debt is not a bad thing if done right. Whether it's a loan or credit card. It's actually smart.

 

[G3OFF]

Agree there but my main point was debt is not a bad thing if done right. Whether it's a loan or credit card. It's actually smart.

Yep, you're actually paying more for it by not financing, since it's 0% over 24 months. In theory you could be earning interest on the money you're not paying up front. Only reason not to finance is if you are concerned about your immediate credit rating (for opening a new account), or if you plan on being irresponsible and missing a monthly payment.

 

[strykerpks]

Sorry if this is a n00b question. But what is this Synchrony I keep seeing? Is that separate from Project Fi? When I ordered and opted for the financing, I just gave them my CC# and I am supposed to be billed on that monthly.

 

[Nate79]

Synchrony is the name of the company that Google is using for financing. They're the company that does many store credit cards and consumer financing for things like electronics, furniture and such.