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I want to buy RDR2 (lemmy.world)
submitted 11 months ago by to c/memes@lemmy.world
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[–] 6 points 11 months ago* (2 children)

Don’t worry. All the stores now (at least in the US) have predatory deferred financing that promises zero-interest and then shows you low minimum payments to trick consumers who were never taught how credit works into thousands in interest.

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  • [–] 1 point 11 months ago* (last edited 11 months ago) (1 child)

    If they promise zero interest, why do they end up charging interest?

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  • [–] 3 points 11 months ago* (last edited 11 months ago)

    Well, there is zero interest if you pay it in full by the allocated date (usually 12-24 months); however, if you do not pay it in full by then (which they try to trick you into), not only do you get charged interest going forward, you also get charged interest for every month that was previously “zero interest”, which ends up being a lot, often more than the product(s) would’ve originally cost.

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