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.
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Don’t do this.
What for? This is ridicules! This is not a housing market, this is game market! Don’t even bother.
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?
The era of financing gooner skins for your waifu has arrived
It always existed with credit cards.
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
Just lemme buy it with the money enemies drop when I kill them. 😬
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!
I want to cry but there aren’t enough tears.
What is the collateral on a digital product purchase?
Achievements.
If everybody has to finance their purchases, something might be fundamentally wrong with the economy…
Just what my relaxing escapist hobby needed, debt.