Compaq offers payment deferral on financing

Compaq said on Wednesday that it has a new financing plan that will allow businesses to defer payments during the first four months of a lease on any product or service.

It says the move will help customers grow during the economic downturn. The offer, from it's financing unit, Compaq Financial Services Corp, is in effect until Dec. 31.

Compaq's financing plan comes at a time when corporate technology spending is on the decline and computer companies are vying for customers. In a similar move, Compaq competitor IBM on Oct. 3 said it had a new financing plan with a 90-day payment deferral.

"Compaq is helping businesses get moving despite the current economic downturn," said Jim Milton, senior vice president of sales for North America in a statement. "Now, companies can take advantage of the latest Compaq solutions, and they don't have to pay for it until next year," he said.

News source: Reuters

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