Comment by drdexebtjl
6 hours ago
That’s evil.
So if the target demographic, the person that does not have money to buy an iPhone outright, is mugged, they need to essentially buy the iPhone outright or they start racking up interest and fees.
(I don’t care if they say the target demographic is “people who upgrade every 2 years” instead. If that were really the case, you don’t need financing, just a buy-back program)
Fairly certain there is no forgiveness with lease terms. Also, Im surprised that Apple Care is not a requirement, but it seem more like a decision to put the risk on the lender rather than Apple in the case of loss. I would expect a majority of people to buy the apple care for a few dollars more per month.
This is the same as when you get a phone through a mobile carrier. T-Mobile doesn't care that I got mugged, they want their money.
It’s not the same. With a mobile carrier, you could just continue to make monthly payments as normal, and at the end of your contract, the payments stop.
With this program, you can either pay a lump sum to cancel the lease early, or you can continue making monthly payments, but at the 24-month mark, since you can’t return the phone, you’ll still owe them $430.
People must really like the dopamine rush of feeling outraged.
Giving people the option to not buy insurance is not evil. It's just a seller giving a buyer options at different price points.
Giving people options that will in practice put them into spiraling debt slavery is objectively evil.
It's not specifically the option to skip insurance, it's the option to finance something so prone to damage without insurance. And yeah, it's bad for that to be an option.