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Beware of 90 days same as cash. It is not

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Posted by Martin from Houston, TX on July 17, 2017

My wife was told initially purchase was 1,200. When invoice was ready it said 1,299. They told me the sales man made a mistake. I thought my wife loves this furniture so 99.00 is not a deal breaker. Plus delivery it was 1,388.99 They ran my credit and approved me for 90 days no interest, same as cash. Wen I received my invoice and contract I was told "you can pay (I thought 1,388.99) in 90 days, if you take longer they will charge you interests from day 1
When I got home I read it and it is not a loan but a lease-purchase agreement. Leasing contract reads: Cash price 1,527.89 plus tax (not in the contract but 8.25% tax amounts to 1,653.94). Can be paid in full in first 90 days. Lease to own contract is for 49 payments of 91.14. 1st payment due at signing. Which I did pay. IT IS NOT A LOAN SO THERE ARE NO INTERESTS FROM DAY ONE. IT IS A CONTRACT FOR 49 PAYMENTS IN 24 MONTHS
Next day, after reading contract, I went back to the store to try to stop the lease and buy it straight from the store in cash. Finance guy said no so I called the number in the contract and cancelled it.
1,653.94 IS NOT 1,388.99
Primero le dijeron a mi esposa 1,200. Cuando me dieron el invoice decía 1,299. Dijeron que el vendedor se había equivocado. Yo pensé que a mi esposa le gustaba el sofá asi que 99.00 no era mucho. Más entrega eran 1,388.99
Corrieron mi crédito, me aprobaron para los 90 días sin intereses igual que de contado. Cuando me dieron el invoice y el contrato me dijeron "puedes pagar en 90 días y no te cobran intereses" (yo creía que los 1,388.99 del invoice) "pero si te tardas más te van a cobrar los intereses desde el primer día"
Cuando llegué a la casa y lo leí, dice que no es un préstamo, es un contrato de renta con opción a compra. Dice: Precio en efectivo 1,527.89 mas taxas (no está en el contrato pero al 8.25% son 1,653.94) Se pueden pagar por completo en 90 días. El contrato es por 49 pagos de 91.14 en 24 meses. NO ES UN PRESTAMO
1,653.94 NO SON 1,388.99