Mattress Firm - Beware if financing your purchase..
We bought a tempur-pedic mattress in October 2012 at the Mattress Firm...we financed with "no interest" they billed us and e made all the payments on time. What I did not realize is that the payment they required did not equal the amount to pay over 12 months....at the end of 12 months they added all the interest charges to the bill and continued to bill at the lower payment!!! Yes, it was an oversight on our part but this company does this as a regular practice so how many of the
buyers are stuck paying the interest in addition to the purchase amount for a longer period of time with addition interest!!! So the
$4,000 bed ends up costing you $5,500+!!! This is an outrageous
practice....I am considering a Class Action Suit....
Location: Phoenix, Arizona
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The same thing almost happened to me today...luckily I caught it...they were advertising zero percent interest for four years to get you in the store...they then switched it to one year with interest at 29 percent for the next three...I walked out and they just called offering a 10 percent discount on the purchase price if we would do the deal with the high interest rate...I said no deal...The store is located in St. Petersburg Florida...
So... it happened to you and therefore it is a general practice?
I used to work for mattress firm and I have never encountered this issue with any of my previous customers. EVER. Mattress firm actually PAYS the finance fees for the customer, which is why our customers, if they pass credit check, are able to get zero percent financing.
In fact, the fees that the company pays for the customer actually comes out of the salesperson's commission. The oversight was with Wells Fargo, not Mattress Firm.
A class action lawsuit because you don't know simple math? Good luck with that.