Have you ever seen the price of a zippy new Nissan rogue and thought, Can't afford that, only to have sales rep Steve come to the rescue with a no interest loan? Maybe it was that classy Samsung frame TV, a gravity defying Purple mattress, or the new titanium iPhone 15 Pro. Whatever the splurge was, I'm guessing you responsibly hesitated for about 3.5 seconds before taking up Steve's offer. Low monthly installments with absolutely no interest? Where's the downside? It's such a good deal that the only thing left to say is you've been punked. Ashton Dax, come on in, guys. We got him. Yeah, 0%, got him. Classic. How do you feel about getting punked? So it's time you learn that there's always a catch to a loan or a credit card with no interest financing or 0% APR. And today, I'm going to help you avoid feeling like the back end of a horse costume by explaining why these deals aren't nearly as good as they sound. And if it brings you any joy at all to watch me expose agents of deception in our financial ecosystem, please hit those like and subscribe buttons as we get started.

All right, the big catch with zero interest loans or zero % APR is this. They will cost you as much or more than a traditional loan. Lenders just get money out of you in different ways. How? Well, for starters, they lure you into overspending by a lot. Heck, they genetically modified these loans and deals for the specific purpose of getting you to make impulse purchases you can't afford. And by can't afford, I mean you can't pay for the thing in cash right now without going into debt or neglecting your other financial responsibilities. When you make the mature decision not to purchase something because you don't have the cash, retailers don't see a modern day hero. They see a lost sale. And they're looking for ways to unloose that sale. And they figured out that if they can't get you to hand over part of your paycheck today, the second best thing is getting you to sign over part of your next paycheck today or your next 120 checks. And zero interest financing is the bait they shamelessly use to get you to do it. And that's just the first catch. But wait, there's more ways you're getting screwed, like the buffer that gets built into the price of that WiFi compatible smart fridge, since the knows they won't be making their typical interest off of your financing.

Not only do these no interest deals make you impulsively buy things you can't afford, but they also make you overpay for those things. And car dealerships are the perfect example of this. We got Fosters. We got Suzuki. Beans. They often require you to pay the sticker price of the car, also known as the manufacturer's suggested retail price or MSRP, in order to get that 0% APR. That means no deals, no discounts, no negotiating. You're paying full retail off in full, which triggers interest payments of some variety. To avoid all of this, you would need to sneak in a few early payments which you may not have budgeted for. What if, God forbid, life happens and you can't pay back every single dollar of every single payment right on time? Let's be real. This doesn't have to be as monumental as a job loss or income change. Maybe your kid needed new braces. The bonus didn't come through on time. You forgot to transfer some extra money. These companies don't give a rip. All they see is that you're a little bit behind on the payments and they go full Spanish telenovela on you. Mass drama. Who needs real housewives? The fake Spanish drama is more real than the real housewives drama. What is real anymore? There's going to be late fees. There's going to be an immediate end to your promotional period, and there might be debt collectors calling your home or even tracking you down at work. And knowing that you've got to pay the piper every month is a burden that already lives rent-free in the back of your mind.But it's way worse when you know anything less than perfection can dramatically change the terms you think you signed up for. And if you have a loan or credit card with one of these no interest promotions, let me say this. I love that you want to avoid interest. I really do. I think you're onto something here. But the only real way to never pay a single cent in interest ever again is to pay for things upfront in cash in full with your own money. That's the way that grandma intended. And I know this is a huge paradigm shift, so let me give you a second to adjust. Okay, moving on. I'm not ready. These zero interest deals are nothing more than a sick game. A game that banks and other lenders have learned are very profitable for them to get you to buy shiny brand new things that you don't have the money for right now. And the best way to protect yourself from stupid games is to not play them, including the Dreamdays Starbucks Summer game. Look at that. I got to play. I won 25 stars. Only 3,000 more, and I can get an overpriced stupid drink.That's a good deal. Now, if you've already found yourself on the business end of one of these crappy deals, do not despair. You can still make a comeback and get to win if you're willing to put in the work. Just take a deep breath and check out this video to learn about the debt payoff method that worked for yours truly and about 10 million other people. I'll drop a link to watch in the description, too. Thanks for watching. We'll see you next time.

off in full, which triggers interest payments of some variety. To avoid all of this, you would need to sneak in a few early payments which you may not have budgeted for. What if, God forbid, life happens and you can't pay back every single dollar of every single payment right on time? Let's be real. This doesn't have to be as monumental as a job loss or income change. Maybe your kid needed new braces. The bonus didn't come through on time. You forgot to transfer some extra money. These companies don't give a rip. All they see is that you're a little bit behind on the payments and they go full Spanish telenovela on you. Mass drama. Who needs real housewives? The fake Spanish drama is more real than the real housewives drama. What is real anymore? There's going to be late fees. There's going to be an immediate end to your promotional period, and there might be debt collectors calling your home or even tracking you down at work. And knowing that you've got to pay the piper every month is a burden that already lives rent-free in the back of your mind.

But it's way worse when you know anything less than perfection can dramatically change the terms you think you signed up for. And if you have a loan or credit card with one of these no interest promotions, let me say this. I love that you want to avoid interest. I really do. I think you're onto something here. But the only real way to never pay a single cent in interest ever again is to pay for things upfront in cash in full with your own money. That's the way that grandma intended. And I know this is a huge paradigm shift, so let me give you a second to adjust. Okay, moving on. I'm not ready. These zero interest deals are nothing more than a sick game. A game that banks and other lenders have learned are very profitable for them to get you to buy shiny brand new things that you don't have the money for right now. And the best way to protect yourself from stupid games is to not play them, including the Dreamdays Starbucks Summer game. Look at that. I got to play. I won 25 stars. Only 3,000 more, and I can get an overpriced stupid drink.

That's a good deal. Now, if you've already found yourself on the business end of one of these crappy deals, do not despair. You can still make a comeback and get to win if you're willing to put in the work. Just take a deep breath and check out this video to learn about the debt payoff method that worked for yours truly and about 10 million other people. I'll drop a link to watch in the description, too. Thanks for watching. We'll see you next time.