INTEREST FREE FINANCING
The Gun Shop USA is offering 12-month interest-free financing year-round through Tower Loan. Seasonally, we will also offer 24-month interest-free financing. This will generally be advertised in the store and on our Facebook page.
Minimum sales ticket for interest-free financing is $200 — new in-store items only.
You must be relatively local to our store, as you will be required to come into the store to sign the contract. Generally speaking, there is no distance limit, and we cover all of Alabama if you are willing to drive. You can always get preapproved before you make the trip (see application link below).
How Exactly Does Interest-Free Financing Work?
While it is “interest-free,” there is a $3 per month maintenance fee that the State of Alabama requires on these contracts. For example, if your ticket is $1,200 on a 12-month interest-free contract and you pay it off over 12 months, you will incur a $36 maintenance fee. If you pay it off in 6 months, you will incur an $18 charge. You can figure on paying $3 per month in maintenance fees until your account is paid in full.
It is important to remember that the contract is only interest-free if you pay on time and pay the balance in full before the interest-free period ends (whether it is 12 months or 24 months). If a payment is 30 days late, or if you fail to pay off the balance within the interest-free period, you will lose the interest-free discount.
A 12-month promotion will be set up on 24 monthly payments, and the 24-month promotion will be set up on 36 monthly payments. If you only pay the minimum payments, you will not pay off the contract during the promotion period. You must follow the recommendation below to ensure the balance is paid on time.
Our Recommendation
We recommend dividing the total contract amount by 11 months for a 12-month promotion, or by 23 months for a 24-month promotion. Paying that amount every month will ensure your contract is paid in full during the promotion period.
Application Process
You can fill out the application in our store or apply online to get preapproved before visiting. It is crucial that you complete the entire application before submitting. Denials are often due to incomplete applications. If you are applying individually but are married, listing your spouse’s income under the “Other Income” section can help — even if your spouse will not be on the contract.
After submitting the application, please email your full name to info@thegunshopusa.com so we can process it promptly.
Applications are typically approved within one hour during standard business hours. If you have questions, please feel free to email us at info@thegunshopusa.com.
The Gun Shop USA
Veteran Owned & Operated