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Raymour And Flanigan / liar salesmen

1 NY, United States Review updated:

Bought furniture(bedroom set) 4 years ago when I was straight out of college. Didn't have enough money to buy straight out so opted to go the layaway route. I worked int he Schnectady, NY region then and happened to walk into the Raymour and Flanigan store just to check out layaway plans. I had not intention of actually purchasing the furniture right away. the saleman who greeted me was pleasant but with a shifty kind of appearance that I didn't pay much attention to at the hindsight I should have! upon inquiring, he informed me that they didn't have any layaway options but that he could possibly help me get store financing. I agreed-BIG MISTAKE!!! I got approved for a $3000 credit line, and you can only imagine my glee! After walking around the showroom, I finally picked the bedroom set that I wanted and in my naivity, thought that I could come back probably the next day or so to finalize the sale. So I asked what the interest rate was and he replied "2%" very quickly while maintaining eye contact(didn't even bat an eyelid) I was overjoyed to say the least, because I mentally calculated that my payments would be very affordable. Fast forward to 45 days later...
Imagine my shock when the 1st bill stated an APR of 24%!!! it's 2% alright, but 2% per month!!! I immediately called the store demanding to speak to the salesman but was told that he no longer worked in the store. I explained to them what had transpired but they said that since I had signed the agreement, I was bound by it. I was fuming and my protests, of course, went unheard.
So 4 years and $94.00 per month payments later, I have finally paid off the furniture but have SWORN NEVER EVER to visit this shady company again.
My friends and family have been warned and thank God they have listened. Beware of those inviting ads on tv about no interest for such and such a period...complete lies.!!!
Lesson learned..take a deep breath and read the fine print

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  • Ta
      29th of Mar, 2009
    0 Votes

    While I do agree with you about Raymour and Flanigan and their misleading salesperson, no interest offers are not false. You as the buyer must read your contract before you sign...if you look at your copy I am sure all details are listed there. Never listen to what the salesman tells you...READ the terms for yourself. I LOVE no payment/no interest terms. I have purchased every piece of furniture and every appliance for my home in this manner. You MUST have the payment by the end of the term or you will be gouged with interest. If you are a responsible borrower and pay the loan off in its entirety you will NOT pay interest. I have received thousands of dollars in interest free loans while I earned interest on the money in the bank and then paid the loan back on the due date.

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