Submitted by nabeel_co t3_11dynwq in personalfinance
nabeel_co OP t1_jabyad7 wrote
Reply to comment by antwan_benjamin in Affirm: 0% Interest for 36 monthly payments. Why wouldn't you do this? (US/CAN) by nabeel_co
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.
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.
nabeel_co OP t1_jae6qu5 wrote
Yep, but we don't have much choice anymore.
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