Post #1629556
2026-04-16 16:59 UTC
0% interest rates is paid for by the fees if you miss a payment
Replies (3)
-
@Objection@lemmy.ml 2026-04-16 21:26
It’s also how they get you to start using it. Accept the 0% interest loan, now the app is on your phone, now you’re seeing options for lower monthly payments, now you’re thinking about what you could afford with the app as opposed to what you have right now. I bought an escooter through one of those apps and paid 0% interest, so it worked out for me, but you have to be careful about it.
-
@KoboldCoterie@pawb.social 2026-04-16 17:58
Not to mention, if you miss a payment, you typically have to pay interest on the full original loan from the date you took it out, at some egregiously high interest rate.
-
@AzuraTheSpellkissed@lemmy.blahaj.zone 2026-04-16 17:13
It's also paid as a fee by the store, which in turn means every customer (incl those not using BNPL) is indirectly paying for it.