[drdexebtjl]

That’s evil.

So if the target demographic, the person that does not have money to buy an iPhone outright, is mugged, they need to essentially buy the iPhone outright or they start racking up interest and fees.

(I don’t care if they say the target demographic is “people who upgrade every 2 years” instead. If that were really the case, you don’t need financing, just a buy-back program)

[tzs]

Mugging is not a good example. If the phone is stolen that would typically be covered under the personal property coverage included on most homeowners or renters insurance.

[ArchOversight]

This is the same as when you get a phone through a mobile carrier. T-Mobile doesn't care that I got mugged, they want their money.

[drdexebtjl]

It’s not the same. With a mobile carrier, you could just continue to make monthly payments as normal, and at the end of your contract, the payments stop.

With this program, you can either pay a lump sum to cancel the lease early, or you can continue making monthly payments, but at the 24-month mark, since you can’t return the phone, you’ll still owe them $430.

[ct0]

Fairly certain there is no forgiveness with lease terms. Also, Im surprised that Apple Care is not a requirement, but it seem more like a decision to put the risk on the lender rather than Apple in the case of loss. I would expect a majority of people to buy the apple care for a few dollars more per month.

[lotsofpulp]

People must really like the dopamine rush of feeling outraged.

Giving people the option to not buy insurance is not evil. It's just a seller giving a buyer options at different price points.

[drdexebtjl]

Giving people options that will in practice put them into spiraling debt slavery is objectively evil.

[bradleybuda]

Given that the median household income in the US is $83k, I don’t think that losing $1k on a busted phone is likely to put many into “spiraling debt slavery”

[drdexebtjl]

57% of Americans live from paycheck to paycheck and don’t have an emergency $1k to spare.

If they had the money to buy the phone outright, they would probably buy it outright.

[Dylan16807]

It's not specifically the option to skip insurance, it's the option to finance something so prone to damage without insurance. And yeah, it's bad for that to be an option.