Comments by "Lepus Felix" (@MasticinaAkicta) on "Buy Now, Pay Later: Echoes of the 2008 Recession" video.

Very dangerous... Some of these loans would go on longer then the Economic value of the item. Lets say you buy an iPhone14 on one of those loans. And the loan lasts longer then you'll take to replace it with an iPhone15? Suddenly you are stuck with a loan you still have to pay off. I get a washing machine, dryer, cooking equipment or a fridge. Those last pretty darn long and should still be running far after you paid off the loan. Hell in my country they turned a lot of these sneaky loans into utter out open loans with all the expected paperwork, checks, credit-score, oh and how much you finally have to pay if nothing goes wrong. So yes they had to cough up that a $800 item with a over 3 year of loan easily could cost you over $1000 including administration cost. The businesses running this were not to happy but LAW IS LAW. And yes now you can buy stuff on a loan... and you directly see what you pay extra for it.
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