Are you in business? A corporation or sole proprietor? Does your business take Section 179 deductions on your taxes when you purchase equipment, or do you take a depreciation expense deduction instead?
The financing that Peter Pugger is offering is a leasing arrangement that allows you to take annual expense deductions on your business tax return, rather than having to depreciate the purchase over time according the depreciation rules. For some businesses this can result in lower taxes that can make the lease option more favorable.
This would be something to evaluate with the help of your accountant.
If none of the above makes any sense to you, then you are probably going to be better off buying the pugger with your credit card, and being disciplined in making the maximum payment that you can to pay off the purchase as quickly as possible (ETA: or talking to your bank as Ron suggests).
Just to note that the 24 month plan resulting in a total payment of $7400 on a $5000 purchase, works out to over 40% interest rate!
In terms of the building of credit rating thing -- if you have a business, and are trying to build it's credit rating, then the lease option might be valuable; but then I would ask is the credit card in your name personally or is it a business credit card?
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