Amazon launches interest-free Kindle installment plan
March 14, 2014 | 2:20 pm
Amazon just keeps coming up with ways to get its devices into more and more people’s hands. So maybe you can’t afford $139 for a 7” Kindle Fire HD tablet, or $69 for a basic Kindle e-reader, in one chunk. Now Amazon will let you pay it in five monthly installments. They aren’t even tacking on any interest.
You pay 20% of the device price at purchase, then make four more equal payments in the same amount every thirty days, directly from your credit card. That works out to five $27.80 payments for the 7” tablet, or $13.80 payments for the Kindle. (Plus sales tax, where applicable.) Only those two devices are eligible, with a limit of one device per consumer, and you have to have a credit card for the payments. Also, your Amazon account must have been active for at least two years, and you can’t live in Florida or the District of Columbia.
Pretty slick idea. This expands Amazon’s reach to those lower-income households where paying it as a lump sum would be a no-go, and removes having to deal with high credit card interest on the purchase as long as you pay your card off every month. Maybe it’s not quite bundling the device free with Prime membership yet, but it’s practically the next best thing.
(Found via The Passive Voice.)