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At Machledt Furniture, we have "Everyday Low Pricing" instead of "SALES"!
Everyone Has A Sale
It's everywhere you look! It's on billboards, on TV, on the radio, in the newspaper--everyday someone is shouting about some "SALE" that's going on "RIGHT NOW" and "FOR A LIMITED TIME ONLY!"
It's The American Way
Since everyone likes a bargain and no one wants to lose out on a special opportunity, all the store owner has to do is raise his prices for a while and then suddenly have a "SALE" so he can lower his prices and drive customers into his store. It's the American Way. It's capitalism and marketing at its best. It's the only way to do business!
Or Is It?
Sixty years ago Paul and Mildred Machledt, the founders of Machledt Furniture, went into business with a different idea that they called "Fair Pricing". A fair price was one that paid the store's costs of operation with enough left over at the end of the year so the store could grow. It was also fair for the customer because the customer always got the very best price the store could offer. In addition, the customer never had to worry if the item they just purchased was going to be on "SALE" next week at 50 or 70 percent off!
Low Overhead Is The Key
When customers ask us how we can keep our prices so low, we point out that they're shopping in a small town in hundred year old buildings without high-pressure sales people and without a lot of expensive advertising shouting about some "SALE" that's going on "For A Limited Time Only".
And Yes, We Do Have "SALES"
About once every two years, we accumulate enough items that have either been damaged in shipping or discontinued by the manufacturer that we can have a "Clearance Sale". And once we put a clearance price on an item, it stays at that price until it sells. We don't raise the price back up after the clearance sale is over. After all, that wouldn't be
Fair Pricing
Now would it?
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No Down Payment, No Interest, No Payment Until. . .
Credit Offers Look Easy
but if you don't pay on time they can be very expensive.
Among retailers they're known as "No-No-No" offers: "No money down, No Interest and No Payments for 12, 24 or even 36 months".
Many retailers, car dealers and credit card companies make these offers hoping that consumers will keep on spending. With these offers, a consumer can drive off in a new car that they've bought with zero percent financing for up to 72 months. Then they can head to the furniture store where they shop and pay zero down and no payments until 2010 or more. Finally, they can put all their Christmas shopping on a credit card with no interest for the next six months.
For a consumer who is disciplined about their spending and who diligently pays every bill on time, being able to avoid all that interest may be a good deal. For anyone who is not as diciplined or as diligent, these offers are a ticking financial time bomb.
According to TrueCredit.com, most of the retail industry's no interest/no payment plans work like this: If, say, an appliance dealer offers no payments or interest for 12 months on Dec. 1, the shopper has through Nov. 30 of the next year to enjoy the product without paying any interest on top of the purchase price. But even though there are no monthly payments due, if the item isn't paid off by the maturity date, the consumer owes not only the unpaid balance, but also interest as high as 20 percent or more, backdated to the date of purchase.
"You buy $5,000 worth of furniture, and you've paid all but $200 back and the promotional period ends, and, bam, you're hit with hundreds of dollars of interest," says Curtis Arnold, founder of Cardratings.com, a credit education Web site.
As tempting as the "No-No-No" offers appear, for consumers who aren't on top of their finances yet or for those who don't read the fine print, these kinds of offers are simply a No-No.
Ask anyone who has struggled to get out of debt and they'll tell you,"Getting easy credit wasn't good and having good credit wasn't easy."
Why We Don't Play Games With Your Credit
