People have been leasing phones since at least the mid naughties, they just did it via their carrier. I distinctly remember standing in the Alltel store in 2006-ish, before it got gobbled up by ATT, and wondering if I could afford the extra $15/mo that the new Nokia candybar phone would run me. The only thing that's new is that Apple is offering it directly.
Most people are short-term thinkers if you talk to anyone around you at work, school or at home and if you merely suggest saving and controlling their spending briefly to buy something in the future good luck. I have given up.
I just buy more shares of blue chip companies and let them pay in the future for anything I want to buy.
I honestly did not know this was a thing until today. I'm not from the US.
Where I'm from, it is common to finance a phone as part of a mobile contract: your monthly payment includes a device payment and the network subscription cost. Typically 24 months, but in recent years I've seen 36 month contracts as well. But at the end of the term the device is yours outright. No further down payments needed. Usually the device payment is effectively 0% APR over the 2 years, so it's a pretty lucrative deal. I've purchased all my phones this way over the past 20 years.
If leasing a fucking phone isn't a sign of the times then I don't know what is.
People have been leasing phones since at least the mid naughties, they just did it via their carrier. I distinctly remember standing in the Alltel store in 2006-ish, before it got gobbled up by ATT, and wondering if I could afford the extra $15/mo that the new Nokia candybar phone would run me. The only thing that's new is that Apple is offering it directly.
Leasing, as in long term renting, required to give it back after the lease period, in near perfect condition, or face a penalty?
Or financing, paying it off over a fixed term, after which you own it outright?
The latter, I understand. And I'm also familiar with it.
But the former, I find hard to believe. Although, I'm not from the US. Are you telling me people rented nokia bricks in the aughts?
6 replies →
Most people are short-term thinkers if you talk to anyone around you at work, school or at home and if you merely suggest saving and controlling their spending briefly to buy something in the future good luck. I have given up.
I just buy more shares of blue chip companies and let them pay in the future for anything I want to buy.
A little bit of this, a little bit of that, we know the average, but we don't know how much time each of us has on this earth.
If leasing a fucking phone isn't a sign of the times then I don't know what is.
People have been leasing and renting phones since the 1930's. I guess you missed out on the Ma Bell century.
I honestly did not know this was a thing until today. I'm not from the US.
Where I'm from, it is common to finance a phone as part of a mobile contract: your monthly payment includes a device payment and the network subscription cost. Typically 24 months, but in recent years I've seen 36 month contracts as well. But at the end of the term the device is yours outright. No further down payments needed. Usually the device payment is effectively 0% APR over the 2 years, so it's a pretty lucrative deal. I've purchased all my phones this way over the past 20 years.
1 reply →