I'll tell you the thing that I stress to my customers the most is to watch out for "interest free for five years, no payments for four years." These are almost outrageous in terms of getting the furniture, putting it on credit and not paying for it. I would be real careful of those especially. I have just seen one here recently with no payments until 2008. Well, by 2008 you may be tired of it, it may be worn out and then I think it is going to be harder for those people who are paying for those items.
With our store in particular, a lot of times we have companies that will run a six-month interest refinancing or a 12-month interest refinancing. Those are great and take advantage of them if you can. Just make sure that you pay them off in the amount of time, because if you do not, same with those long-terms, you are going to go back from day one and pay the interest. I really stress that people come in and get financed for $5000 in furniture and just buy at the store. I really make sure that if you are going to use any sort of credit, and there seems to be a lot of that in the furniture industry, make sure you pay everything off before the time is up or you will not be happy.
Shorter term financing is fine, but just make sure you pay everything off. That to me is probably one of the most important things about furniture. So, I think that is the drawback for people to go buy new furniture. They see these wonderful "no payments for so long," but once they get it home and it is not new anymore, then it becomes hard to keep up on their payments.
There are some small mattress companies that give you these great wonderful warranties and then they are out of business in two years. Some of the bigger names that have been around and stayed around, they are going to take care of your product if you have some sort of a problem.
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