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antwan_benjamin t1_jabwwtl wrote

Every time I go to buy something and I see an offer from Affirm at 0% interest I always take it.

Their "game" is obviously they're hoping a payment bounces and they can charge me a bunch of interest. But in my personal experience, I've noticed usually the 0% payment option pushes me over the edge to make the purchase. Just recently I needed a new belt and went belt shopping. I found one I liked. While browsing the website I also saw a new wallet I liked. I want a new wallet, but I could wait a couple of months before buying one. But when I saw I could make payments over a few months at 0% I just went ahead and bought the wallet too. So they got me to spend twice as much as I would have otherwise.

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nabeel_co OP t1_jabyad7 wrote

Yeah, that's the danger. For me, I've been looking at a new phone. I've been rocking very old used phones since about 2016 because paying more than 1000 bucks for a phone is CRAZY to me. Shit, paying more than 400 bucks seems to high to me.

But there are some new phones on the market that have some features that really would make working on the device easier, and even the older models of these newer phones are over 1000 dollars for a good one, then add the storage I need, and I'm in the new phone territory anyway ...

I don't want to spend that kind of money on a new phone. It's a freaking phone! They literally cost like 300 bucks to make. But this is how the industry prices, and it is a tool that I need and can afford to buy... ...it just stings a lot knowing what the profit margins are like...

Deferring payment, and being able to collect some interest by leaving near 3000 dollars in investments, instead of paying that all at once, and taking advantage of inflation devaluing the price of the device over almost 3 years effectively makes the price cheaper...

But this normalizes paying three thousand fucking dollars for a device that cost 1/10th that to make, which I don't want to do.

I wish the second hand market was more reasonable... I wish the primary market was more reasonable... but I don't really have a choice, because I use my phone literally as a computer instead of using a laptop when I'm out and about.

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redditenjoyer737 t1_jadejgs wrote

I got a new Pixel 7 for free several months ago by trading in my old phone (Motorola G4 or something or other that I bought for $150 and had a street value of $5. The deal was literally, trade in any phone and get the Pixel 7.

So look at what your provider is offering in terms of deals and if you aren't super picky about having the latest and greatest features, you can get a very functional, useful phone for cheap to nothing.

I'm like you - I'd never pay $1,000 for a freaking phone.

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nabeel_co OP t1_jae6qu5 wrote

Yep, but we don't have much choice anymore.

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KReddit934 t1_jachen1 wrote

Yep...that is,why they really do this...tricking you into spending more.

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redditenjoyer737 t1_jade7eh wrote

This is where the "But its free money" argument breaks down. Spending $3k on bullshit at 0% isn't 1worth it if you would have otherwise spent $1,200 on necessities and paid cash.

People overspend when they use credit - plain and simple.

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nabeel_co OP t1_jae1kut wrote

Well, my hands are tied, because it's not like the devices are getting any cheaper... and the used market is also maintaining super high prices. So what do I do? I either pay cash, or leverage credit and at least get to keep my money making me income for a little while longer.

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redditenjoyer737 t1_jae4i2j wrote

>leverage credit and at least get to keep my money making me income

Honestly - how much after-tax income are you making financing a $1,000 phone?

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nabeel_co OP t1_jae6ock wrote

$3000... they are fucking $3000 now.

I have damn near 1TB of storage in my used phone that I picked up for 400 bucks, because you could add SD cards back in 2019... but now... you can't... I need the storage, and I need the larger screen because I literally use my phone as a laptop/computer.

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