Words of Caution
I purchased my last three compters, two MP3 players, a camera, and some software through Dell Financing. In total that comes to be a significant amount of money. After all of the business I gave Dell I wish I had known the things I know now so that I could have avoided some of their pitfalls. Here are some of what I believe to be the pros and cons in dealing with Dell finance.
I like Dell ! They don't have the best track record (laptop batteries catching on fire), but they do have other great attributes that make them my computer of choice.
I needed a computerdesperately. The old Compaq my wife bought back in '95 just wasn't working. I mean being in University and having the system shut down suddenly while writing a term paper was hell. With no money, Dell financing was really the only option if I wanted a new computer.
Pros of Dell financing:
- The application process was easy and painless
- Approval was done over the phone
- Was done with little credit and no down payment was needed
- I liked that you are assigned a financier
- Financing works as a revolving credit, just like a credit-card
Even though I love my Dell computers I have to be honest about their negative attributes. Hopefully Dell will get a hold of this and improve on their financing practices.
Cons of Dell Financing:
- Customer service within Dell Financing is inconsistent. Sometimes good sometimes very bad
- Very high interest rates. We're talking 29% or more
- Rates were changed without notice and with little explanation
- No satisfaction guarantee returns
- You have to make the purchase decisions with your Dell financier. Meaning little technical help
- Dell financiers act like salesmen, pushing features you didn't want into your purchase
- Dell Finance will report you to the creditbureau if you default
- Dell Finance will do nothing to improve your credit if you're a good client
Now remember these are from my experience with Dell. I should mention that after getting frustrated with the service and complaining, Dell was quick to apoligise and did what they could to remedy our problem.