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Old 06-19-2015, 06:57 AM
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feline fanatic
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Join Date: May 2009
Location: NY
Posts: 10,590
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I believe they also do the financing for ABM Innova. I didn't finance my machine but I do recall seeing the name on ABM's site. They specialize in financing of Longarms and high end embroidery machines so I suspect a lot of companies that are sewing related use them.

They do have a website:
http://redthreadfinancial.com/

I would consider shopping around for interest rates before going with them. Sometimes your local credit Union can offer a much better rate or doing a home equity loan. I know that was the case when I was working with my dealer they said the local credit union had a much better rate, they said their financing company rate was very high (although I don't know if it was red thread at the time). I opted to save up for it so I saved like a demon for 2 years and then my wonderful DM gifted me the balance. She called it my early inheritance. If she had not intervened it would have taken me 4 years to save up for it. I did have it in a CD that was maturing as well but that was my husbands and mine money (joint money) and he was hesitant to blow it all on a sewing machine, not realizing the extent I would use it.

Personally, I hate going into debt and financing anything if I can just be patient and wait a few years saving the money myself I will do that rather then throwing out hundreds of dollars in interest payments. Unless it is interest free financing. Then I make sure I pay it all off before the interest free term is up because if you don't, the finance company socks you with the interest fee going all the way back to inception. Never pay interest if you don't have to.
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