I guess if that’s that only kind of financing you can get.
That’s exactly what it is. Look up the statistics on how many people can’t afford an unexpected $500 bill. Most people simply don’t have the money to pay out of pocket for what smartphones actually cost, so they’re stuck with exploitation, or nothing.
If the phone costs $500, they simply increase your monthly bill by $500 / 24 months = $20 a month.
It’s a bit more complicated than this, and they’ll likely have some interest built in as well, but functionally, it’s no different than being given a loan to buy the phone and then paying the loan off over the two years. That’s why carriers often require a credit check before doing this.
I can’t believe people still do that. You aren’t saving money and you’re locked in 2 years. I guess if that’s that only kind of financing you can get.
That’s exactly what it is. Look up the statistics on how many people can’t afford an unexpected $500 bill. Most people simply don’t have the money to pay out of pocket for what smartphones actually cost, so they’re stuck with exploitation, or nothing.
Seems odd because you can get fully functioning smartphones for like $200.
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If the phone costs $500, they simply increase your monthly bill by $500 / 24 months = $20 a month.
It’s a bit more complicated than this, and they’ll likely have some interest built in as well, but functionally, it’s no different than being given a loan to buy the phone and then paying the loan off over the two years. That’s why carriers often require a credit check before doing this.
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