Buy a Kindle via five monthly installments

New:  Amazon is now offering customers the option to purchase a Kindle e-reader on the installment plan, provided you have a credit card attached to your Amazon account.

Buy a Kindle in installments -- such as the Kindle Fire HD for 5 installments of $27.80 or the most basic Kindle e-reader for just $13.80 per month.

How it works:

Once you accept the offer (limit 1 device for the offer), you'll be billed in five installments.  The first one, due when you order, is 20% of the purchase price, plus applicable taxes and/or shipping charges.  The next installment will be billed to the credit card you used 30 days thereafter, and so on until four months after purchase (120 days) the final payment is billed to your credit card.

Be sure to read the full terms of service, available by clicking the hyperlink above.  I do note you can prepay the whole balance if you wish during the term, but it has to be the whole balance.  So you wouldn't be able to double up on payments and be done in two months instead of four.

What do you think?  Do you like the ability to pay for a Kindle by installments?