I'm nobody
Member
Why would Sony want to lose money on something that's showing a flat revenue (gamepads)
PS5 needs its own 'Xbox All Access' program if it wants to beat Microsoft
Relativ9
Member
That's the best way to do it sure, but a lot of people will run a balance and will pay interest on their purchases.
As with all things, its about trying to bring as many people as possible into the fold. There are a lot of different income brackets that might want to participate in gaming.
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40% of Americans don’t have $400 in the bank for emergency expenses: Federal Reserve
Almost 40% of American adults wouldn’t be able to cover an $400 emergency with cash, savings or a credit-card charge that they could quickly pay it off, a Federal Reserveabcnews.go.com
^ That's 52 million households that might find a 24 month 0% offer appealing. And this was before the pandemic hit, things are worse now.
This I would agree with, but what makes it pro-consumer? At best it's neutral assuming you want to fully utilize Game Pass, selling a service for a price a consumer is willing to pay is neither pro nor anti-consumer...it's just capitalizm. Wheter you do it over 24 months or in an instant doesn't really matter. On the other hand providing the consumer the choice of saying no thank you to Games Pass and offering Xbox All access would be slightly more pro-consumer, but as you've stated earlier that wouldn't be profitable to them so it's understandable that they don't.
I wasn't aware that there was no late fees as in my head any purchase on credit plan will have late fees otherwise the risk wouldn't be worth it from the vendors side. So I did some research, and found out that you are right, there are no late fees. I find this incredibly strange, might be different in my country, but usually if you can't pay off some credit there are a number of way that the company has to "get back what's theirs" they'll start with fees, and then if this doesn't work they sell your debt to a dept collector who will then charge you enormous fees, easily doubling or trippling the initial ammount owed, if this company still can't collect the dept you owe, they might involve local authorites to freeze your account and automaticallty withdraw money from your account as it comes in (denying you access to it to pay off rent, other loans ect), they might take even take you to court.
Again I couldn't find any details on if Citizen One guarentees this won't happen, all it says on their website is that late payments are reported to credit agencies, but other than that, are we to assume that you can essentially buy an Xbox Series X on credit, never pay, and they'll just ignore that and let you keep it?
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Elcid
Banned
This is quite possibly the greatest image ever.
I don't know, personally to take out a 2 year loan over 200-500 bucks seems a little shocking to me, but I can defintiely see how that'll bait in new buyers.
vdopey
Member
Have you used ps now? I signed up for a year to platinum some ps3 games, when it was on sale - the game I wanted to platinum I think I screwed up something and the save files aren't loading properly (infamous 2) but surprisingly infamous 1 has all of my save data intact, in fact after I learned how to import my saves across all of the other games I loaded after the fact just worked with all of my save data intact. imho it plays much better than stadia when streaming content. I was surprised by just how fluid the service is.
they do need to advertise it more and possibly provide free weekends for people to use it and see if they like the service, I am seriously impressed with it, especially now that they allow ps4 games to be downloaded locally and played.
StreetsofBeige
Member
These All Access deals are straight up? No back end $50 administration costs or anything?
If not, it's a good deal. Also, chances are good your system is covered in the 2 years (look into that).
0% financing is sweet, but most places (like furniture stores) will get you on a $99.99 admin fee. Pay a $100 fee for buying $1500 worth of stuff isn't a great deal over 2-3 years, but probably break even with interest costs anyway.
But pay a $100 fee for buying $6000 with of furniture and that fee over 24 months financing is hardly anything.
Always watch out for that back end fee.
If not, it's a good deal. Also, chances are good your system is covered in the 2 years (look into that).
0% financing is sweet, but most places (like furniture stores) will get you on a $99.99 admin fee. Pay a $100 fee for buying $1500 worth of stuff isn't a great deal over 2-3 years, but probably break even with interest costs anyway.
But pay a $100 fee for buying $6000 with of furniture and that fee over 24 months financing is hardly anything.
Always watch out for that back end fee.
CouzinD
Member
Yep, current subscriber here. It's a good service, but it needs to get a lot better, and yes they definitely need to push it more. Maybe even roll it into a bigger PS Plus subscription or whatever.
SportsFan581
Member
I would assume that you'd get to keep the XSX upon default of the contract, just as you would if you purchased it with a CC and defaulted on that. The console wouldn't be worth enough to warrant being held as direct collateral for a loan. Upon default, I assume they could discontinue your subscriptions (cutting off access to Gold and GP), MS can also be tricky about user accounts (I read stories about users getting their accounts blocked for billing issues) so not sure if that would play into things or not. The banks do the math and run the numbers based on X users paying on time, x users being slow pays, x defaulting (and selling the contract to collections for X%) and so on. Obviously, this bank thinks they can make these numbers work.
Everyone should be responsible and not sign contracts they don't intend to follow.
I think it's a great option for those that don't want to spend $300 or $500 in one go but would rather spread that out. Even for those that have no interest in GP or Gold, the interest would be better than what you'd get from traditional rent-to-own type deals. ( For those thinking All Access is predatorial - take a look at this one: https://www.rentacenter.com/electro.../p/200012178?paymentOption=weekly&pv=listview you'll need a supported US zip code to see details
)
danielJackson
Banned
This.
Like we can literally order phones, tablets, tvs, consoles, all kind of shit from phone operators and it costs the same to pay on one time deal vs 12/24/36 months payment plan.
So no need for special Sony/ms deals, Ms doesnt even offer that here, or maybe they do but they dont advertice here and nobody cares about them
Jumping up & trying everything you see someone else do will run your business in the ground faster than waiting to see good results before trying it.
JerryinSoCal
Member
Sony is going to beat MS there is no doubt about that, these kinds of articles are a joke.
PhillyPhreak11
Member
If you need to finance a videogame console, you need to reassess your financial priorities.