Complaint Review: H. H. Gregg Electronics - Internet
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- Author Confirmed
- H. H. Gregg Electronics Internet United States of America
- Phone:
- Web: www.hhgregg.com
- Category: Audio & Electronics Shops
H. H. Gregg Electronics Free Financing Ripoff Internet
*Consumer Comment: Correction
*Consumer Comment: Common practice
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H.H.Gregg offers free financing for 24 months. If, however, a person is late or misses a payment, 29.99% of the original purchase price is immediately added to the amount being financed. If one were to purchase a $1,000 TV and was late with the final payment, they would find they now owed an additional $300. I wrote to the company and pointed out that the majority of those who might miss or be late with a payment would be those who could least afford additional debt. They gave the lame reply that they would pass this concern on to the financial institution providing the financing. I replied that HHGregg was responsible, not the finance company. I purchased my tv from another company and would not even look at the Gregg ads.
This report was posted on Ripoff Report on 12/06/2010 05:38 AM and is a permanent record located here: https://www.ripoffreport.com/reports/h-h-gregg-electronics/internet/h-h-gregg-electronics-free-financing-ripoff-internet-668478. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content
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#2 Consumer Comment
Correction
AUTHOR: Flynrider - (USA)
SUBMITTED: Monday, December 06, 2010
Sorry about that. I originally read into your report that you had found out about the finance charge after signing up (like most do). Good on you for reading the fine print beforehand.
Regardless, anywhere you go that offers free financing is going to have those same terms.
#1 Consumer Comment
Common practice
AUTHOR: Flynrider - (USA)
SUBMITTED: Monday, December 06, 2010
What you describe is common to just about every "free financing" offer out there. It should be stated clearly in the finance contract that you signed. You did read it, right?
These days it's often a good idea to question the concept of "free". If something is free, who is paying for it? When I go to purchase something and am told that I will get something "free", I generally go elsewhere. It doesn't take a rocket scientist to figure out who will be paying for the "free" thing. It's just a sales gimmick. In your case, free financing for those who abide by the terms of the financing agreement is paid for by those who don't (with a nice cut for the financer). It's a tough way to learn about the concept of free, but I bet you won't be signing any more contracts without reading them.
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