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Sony XDCAM EX Pro Handhelds
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Old March 15th, 2008, 01:51 PM   #1
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0% financing on EX-1

I don't know if this is common knowledge or not, but I just got an email from Sony. I read it and it said they were offering 0 down, 0% financing for 12 months on Sony professional gear to businesses....but purchases must be made by March 31st! I looked in the long list of gear that was eligible for this.....and sure enough, the EX-1 was on the list. Now this is only for businesses, not individuals, but if you run a small video business like me, it might be a good way to get an EX-1 even if you can't come up with the cash right away. Or if you could come up with the cash right away, maybe you should put the cash in a CD and get the camera using the 0% financing offer, then pay the camera off and keep the interest you earned on the CD.....making the EX-1 a couple hundred dollars cheaper.....LOL
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Old March 15th, 2008, 02:02 PM   #2
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IN the UK the EX1 has been on 0% 12mnths interest since it's launch. For everyone who has decent credit rating.

I am using mine and will make s deision whether to pay up when the time runs out, or flog it on ebay for a little loss and buy another new one on 12 months interest free.
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Old March 15th, 2008, 02:12 PM   #3
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gabe-

i got the same email and wondered about the terms.

if i remember correctly, the interest factor was in the low 8% range. i wonder if u could get zero financing for 12months and then pay-off the camera in the 13th month or are u "forced" to make monthly payments for the life of the loan.

thoughts?

thanks in advance

rob


Quote:
Originally Posted by Gabe Strong View Post
I don't know if this is common knowledge or not, but I just got an email from Sony. I read it and it said they were offering 0 down, 0% financing for 12 months on Sony professional gear to businesses....but purchases must be made by March 31st! I looked in the long list of gear that was eligible for this.....and sure enough, the EX-1 was on the list. Now this is only for businesses, not individuals, but if you run a small video business like me, it might be a good way to get an EX-1 even if you can't come up with the cash right away. Or if you could come up with the cash right away, maybe you should put the cash in a CD and get the camera using the 0% financing offer, then pay the camera off and keep the interest you earned on the CD.....making the EX-1 a couple hundred dollars cheaper.....LOL
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Old March 15th, 2008, 02:26 PM   #4
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You mean pay it off in the 11th month ? Before the payments start.
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Old March 15th, 2008, 02:33 PM   #5
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paul-

that was what i was thinking. it just wasn't what i wrote!

thanks for the catch

be well

rob

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Originally Posted by Paul Kellett View Post
You mean pay it off in the 11th month ? Before the payments start.
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Old March 15th, 2008, 05:30 PM   #6
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Quote:
Originally Posted by Rob Katz View Post
gabe-

i got the same email and wondered about the terms.

if i remember correctly, the interest factor was in the low 8% range. i wonder if u could get zero financing for 12months and then pay-off the camera in the 13th month or are u "forced" to make monthly payments for the life of the loan.

thoughts?

thanks in advance

rob
http://bssc.sel.sony.com/Broadcastan...inancing.shtml

If you go to that link, you can download the terms and conditions. So I did
just that. It says this:

"Lease Rate Factor: 0.083333 Lease to include $1.00 end of term purchase option
Estimated monthly payment amount equals Lease Rate
Factor times total Equipment Cost plus any applicable taxes
No down payment required
All lease documents must be fully executed and received by
DLL no later than March 31, 2008
Equipment must be located in the United States
Promotional financing options also available to accommodate
24 to 60 month financing needs. Contact DLL to discuss
these alternative promotional offers
Financing available for business and commercial purposes
only, and not for personal, family or household purposes"

That doesn't really answer the question to me of whether I can use this program to buy the EX-1 and have basically 11 months to make enough money using it to pay itself off. If so I think I'd go for it. I actually emailed them a couple times. They said I have to get a email 'quote' from whomever I will be buying from (B&H) and send them that email quote along with a completed credit application. After that they will draw up lease documents and I will read them and see what they say. If I can pay it off without incurring a 'prepayment' penalty or whatever, I think I'd go for it.....but
I'm not going to pay a bunch (or really ANY) interest...if that's the case I'll just wait until I can actually afford to buy it outright.....but by that time there
may be something else out that I will decide to get. That would seem to be the only reason for Sony to subsidize interest free loans, to get people in
this slower economy to go ahead and buy their equipment. I think it's a good
move by Sony.
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Old March 15th, 2008, 07:14 PM   #7
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It's through a lease company. Take your total price and divide by 12. That's your monthly payment.

Add $1 to the end to transfer.

You don't get to pay what you want as you go... gotta pay it off in the 12 months.

If you want a lower monthly payment, pay more up front as your down payment.
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