Payright

Payright is not interest free but misleading – I recently financed a solar installation through Payright, and the experience has been far from satisfactory. The total cost of the installation was $11,700. Payright disbursed $10,720.72 to the vendor, yet I was charged a total of $13,787.95. This includes an additional charge of $3,067.23, which represents approximately 29% over the original amount.

On top of that, when factoring in the account fees over the 5-year term, the total effective charge comes to roughly 8%. This is especially concerning given that the financing was marketed as interest-free.

I feel completely misled by this arrangement, and it seems like an unfair and deceptive practice. Be cautious if you're considering using Payright—what looks like an interest-free deal may turn out to be far more costly than you expected