Renewal by AndersenFinancing

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Renewal By Andersen promotes in their advertising and with their sales reps what is called same as cash financing. They offer no payment no interest " deals " for one year to close the sale. What is not mentioned is if you do not pay the entire amount of the loan within that year, you will be charged interest on the entire amount from the date you entered into the loan. So, if you bought 22 windows for $30, 000 and only paid back $29, 000 by the end of the agreed upon 1 year, you will owe interest on $30, 000 from the date of inception. This interest can be as much as 50%!
Renewal By Andersen is sold thru franchises. In The Greater Capitol Region Of NYS and The Hudson River Valley Area the franchise is owned by Eric Minkiewicz. He has operated under different websites: Huff N Puff, RBA Eastern NY, and I would STRONGLY advise anyone contemplating one of these loans to first have their attorney give them his opinion. Remember, this offer is from an individual who bought this franchise and NOT from the manufacturer of the windows.

  • Updated by windowman · Dec 10, 2016

    Rba promotes what is called same as cash financing. What the sales representative, the advertising and the franchise does not inform you is the following:
    By agreeing to not pay any principal or interest on your purchase for one year, you are agreeing to pay interest from day one on the full amount if you do not pay the total amount of the principal by the end of that year.
    Here's an example. If you borrow $1, 000 on a 12 month same as cash plan, you have to pay it back within 12 months to avoid interest. That much is obvious. However, the term "same as cash" is very misleading because most of these so called deals are actually deferred interest payment plans. So, if you borrow $1, 000 and pay $950 of it in 12 months and still owe $50, you will be charged interest on $1, 000, not on $50! In other words, you will be charged back interest on the full amount regardless of the amount you paid on the loan during the 12 month "same as cash" period.
    What's even worse is that consumers rarely think about the interest they will have to pay if they can't pay the full amount within the allotted time. We're not talking about 12.5% or even 20% interest. The annual percentage rates on these "same as cash" deals can be as high as 40% or 50%.
    In other words, taking one of these "12 months same as cash deals is a lot like playing with a loaded handgun. You had better be sure the safety is on and there is no bullet in the chamber, before you start tossing it around.

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