Monthly Pay Interest Help Lol :D

[Roflcopter3399]

48-Month Installment Plan ("Plan") offered through Dell Financial Services Canada Limited ("DFS"), a separate entity, to qualified customers approved by DFS in its sole discretion. Minimum transaction amount of $499 is required. No down payment required. Monthly payment set out in the ad is based on a Plan interest rate of 13.99% per year and an advance equal to the advertised price for a specific product configuration. Interest rates and monthly payments under the Plan will vary, depending on amount advanced and customer's creditworthiness. Representative example of a Plan: $999 advanced at the rate 13.99% per year: $27.29 monthly payment, total payable is $1309.92, total cost of borrowing is $310.92. Terms subject to error and change without notice. Please contact Dell for more details.

WHAT EXACTLY DOES THAT MEAN lol.

I am buying something that cost 1470.00 tax already added. Now exactly how much do i pay in the beginning and then monthly?

[SPAD3R]

Ok, this is gonna be a tough one...
Well, I'll get my bro to help me.
xD
He's dealt with this stuff before.
Things you need to know:

Interest Rate:
Interest is a fee paid on borrowed assets. It is the price paid for the use of borrowed money, or, money earned by deposited funds...
Down Payment:
Money contributed by the borrower.
Installment Plan:
How long the payment would last. Yours will be 2 years.

Representative example of a Plan: $999 advanced at the rate 13.99% per year: $27.29 monthly payment, total payable is $1309.92, total cost of borrowing is $310.92.

Simpler terms: it means that you pay 27$ a month. In which all of it would add up to 1309$. And if you need to borrow money from the company, the total you can borrow is 310$.

48-Month Installment Plan ("Plan") offered through Dell Financial Services Canada Limited ("DFS"), a separate entity, to qualified customers approved by DFS in its sole discretion.

Simpler terms: Some legal stuff. About how if you're in Canada, you can be approved for this branch.

[Roflcopter3399]

Lol, helping me 3 times now. I owe you one.

Is there a price i have to pay in the beginning, before I start paying 27.29? Does that price increase in anyway while I am paying monthly?

[SPAD3R]

Minimum transaction amount of $499 is required.

That means that you need 499$ as a minimal payment.
In which, this is confusing me...
I'll ask my dad.
:3

[Roflcopter3399]

Lol I am confused to right now

So 499 I have to pay in the beginning and then I go on to paying 27 a month for a while in tell it is completely payed off.
But what about that 13 percent thing, what does that do