What’s also kinda wild is how those plans often have 0 interest rate as long as you’re able to pay the installments on time. Which means in theory you MAKE money by using them because you can earn interest with that money in the meantime.
It ALSO means they know the people using those services are so bad with money that they can sustain themselves (and make a nice profit) purely by their clients failing to pay on time and then selling the debt to debt collectors. It’s absolutely disgusting how predatory this is, making their money mostly on the people who’d need such a system the most (and to a smaller amount, on people who don’t care).
Financing can actually be an incredibly good idea if you expect inflation to increase at a greater rate than the interest. It literally saves you effective money.
That said, it also tends to involve a credit pull (which hurts said interest rates) and becomes a monthly bill.
So if you can afford the monthly bill AND it is a meaningfully large purchase AND you have every reason to expect inflation to increase more than the interest rate? It is actually a pretty good idea.
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: [email protected]
Welcome to the largest gaming community on Lemmy! Discussion for all kinds of games. Video games, tabletop games, card games etc.
Rules
1. Submissions have to be related to games
Video games, tabletop, or otherwise. Posts not related to games will be deleted.
This community is focused on games, of all kinds. Any news item or discussion should be related to gaming in some way.
2. No bigotry or harassment, be civil
No bigotry, hardline stance. Try not to get too heated when entering into a discussion or debate.
We are here to talk and discuss about one of our passions, not fight or be exposed to hate. Posts or responses that are hateful will be deleted to keep the atmosphere good. If repeatedly violated, not only will the comment be deleted but a ban will be handed out as well. We judge each case individually.
3. No excessive self-promotion
Try to keep it to 10% self-promotion / 90% other stuff in your post history.
This is to prevent people from posting for the sole purpose of promoting their own website or social media account.
4. Stay on-topic; no memes, funny videos, giveaways, reposts, or low-effort posts
This community is mostly for discussion and news. Remember to search for the thing you’re submitting before posting to see if it’s already been posted.
We want to keep the quality of posts high. Therefore, memes, funny videos, low-effort posts and reposts are not allowed. We prohibit giveaways because we cannot be sure that the person holding the giveaway will actually do what they promise.
5. Mark Spoilers and NSFW
Make sure to mark your stuff or it may be removed.
No one wants to be spoiled. Therefore, always mark spoilers. Similarly mark NSFW, in case anyone is browsing in a public space or at work.
6. No linking to piracy
Don’t share it here, there are other places to find it. Discussion of piracy is fine.
We don’t want us moderators or the admins of lemmy.world to get in trouble for linking to piracy. Therefore, any link to piracy will be removed. Discussion of it is of course allowed.
What for? This is ridicules! This is not a housing market, this is game market! Don’t even bother.
Don’t do this.
The era of financing gooner skins for your waifu has arrived
It always existed with credit cards.
Don’t finance DLC purchases. If you are that bad off for money, you need to just play the games you already own.
Or just don’t finance any non-essential purchase. The idea of financing anything smaller than a couple thousand dollars is just wild to me.
What’s also kinda wild is how those plans often have 0 interest rate as long as you’re able to pay the installments on time. Which means in theory you MAKE money by using them because you can earn interest with that money in the meantime.
It ALSO means they know the people using those services are so bad with money that they can sustain themselves (and make a nice profit) purely by their clients failing to pay on time and then selling the debt to debt collectors. It’s absolutely disgusting how predatory this is, making their money mostly on the people who’d need such a system the most (and to a smaller amount, on people who don’t care).
“What?! We help people budget!”
“What?! We help people when times are tough!”
“What?! 73% of our customers pay us zero interest!”
Financing can actually be an incredibly good idea if you expect inflation to increase at a greater rate than the interest. It literally saves you effective money.
That said, it also tends to involve a credit pull (which hurts said interest rates) and becomes a monthly bill.
So if you can afford the monthly bill AND it is a meaningfully large purchase AND you have every reason to expect inflation to increase more than the interest rate? It is actually a pretty good idea.
For even a 200 dollar battle pass: no, it is not.
…or go make some money instead.
Thanks, I’m rich.
Have you tried playing the video games you already own?
You gonna pay me to do that?
Putting everything on credit is a great plan if you expect the world to end very soon.
So it’s a great plan, then! Let’s go!
Only if you’re right.
This is fucking dystopian
I want to cry but there aren’t enough tears.
Gotta pay off that Doordash burrito first before dropping $50 on skins.
I’ve seen this, also recently popped on on car insurance payment. definitely feels like more and more people are going to end up in debt prison soon.
Ahhh, prison for people who can’t pay their debt, where they accrue even more of it since they can’t work… Could this possibly go wrong?
Now I can afford delivery apps too!
What is the collateral on a digital product purchase?
Achievements.
Just lemme buy it with the money enemies drop when I kill them. 😬
If everybody has to finance their purchases, something might be fundamentally wrong with the economy…
Just what my relaxing escapist hobby needed, debt.