Interested in picking up a shiny new Moto X but you can't quite shell out several hundred bucks at once for the full cost? Motorola's got your back. The company today officially took the wraps off of its new financing program that utilizes a Motorola Credit Account to help consumers spread out the cost of a new device over several payments. Anyone that's interested in a Motorola Credit Account can apply online and then purchase a new piece of hardware for $0 down and 0 interest. Motorola says that "many" applications are approved instantly.
Once the purchase is made, customers will up to 18 months to pay it off without incurring any interest. The 18-month threshold is reserved for purchases that are $549 or higher, with lower-cost transactions coming with either 6 or 12-month interest-free timeframes. If a customer makes a late payment or is unable to pay off his or her purchase within the interest-free period, he or she will incur an interest rate of 28.99 percent.
Motorola's new financing program isn't the first of its kind in the wireless world, but it's still an interesting new offer that could help quite a few folks get the new hardware that they've had their eyes on. Of course, with an interest rate that's near 30 percent, the program should probably only be used by consumers that are confident that they can pay off their purchase within the promotional period. For anyone that's done their homework and believes that they could stick with the installments, though, a Motorola Credit Account could be a nice way to snag a new smartphone while avoiding huge payments and two-year contracts.
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