Compaq offers deferred payment

Taking a cue from electronics outlets and mattress superstores, Compaq Financial Services, the financing subsidiary of the computing giant, is now letting customers defer payments for four months on two-, three- and four-year leasing deals. The deferral program is aimed at customers who have been hit by the economic downturn or are facing a calendar year budget crunch. The program lasts until December 31. The deals cover contracts for the vast majority of Compaq's hardware, software and service packages.

"Compaq is helping businesses get moving despite the current economic downturn," Jim Milton, senior vice president of sales for North America, said in a statement.