T-mobile now offers "Equipment Financing"

[TwixVoy]

Something I just noticed T-mobile is now advertising on it's phone page.... "Equipment Financing". Now apparently if you can't afford your cell phone you can finance it.

Is there anything you CAN'T finance in this country anymore? We finance our education, medical bills, consumer goods purchases, cars, homes, appliances.... and now cell phones have their own special financing plans.

All with borrowed money from China....

[LeftyMom]

1. Almost nobody in the US pays the full cost of their phone up front.

Normally phones are subsidized by the carrier and the cost is built into your wireless plan over the two years or whatever of your contract.

But thank you, once again, for flipping out and prophesying economic doom just because you saw something you didn't bother to understand, misunderstood the situation completley, and then took it for an important economic indicator.

[TwixVoy]

4. What don't I understand?

This is not business as usual. They are offering people the chance to finance the subsidized price that would normally have to be paid in full up front.

[LeftyMom]

11. T-Mobile makes more money when people buy cool phones.

1. They sell more expensive phones, and now they get a little interest money instead of fronting people the money in a subsidized phone price and hoping to get it back in a fulfilled contract. Subsidizing phones is especially risky for T-Mobile since they will, unlike other carriers, let you downgrade your phone plan without resetting your contract.

2. Those expensive new phones require web access, which is $35/line/month. This is not downgradable so it's free money for T-Mobile over the two year life of the contract.

3. They don't lose the cool phone people's business. This is a big issue because AT&T has the iphone, Verizon has the Droid and T-Mobile has ??? They need an incentive to keep people who buy for features around.

4. Most people were already financing their phones. Doing it through the carrier instead of through one's bank just gives another revenue stream to the carrier. Basically it's a store card situation.

[TwixVoy]

12. Are you on T-mobiles payroll?

No kidding this is great for T-mobile.... but from the perspective of your average citizen this does nothing but cause them to be more in debt to a bank.

[LeftyMom]

13. How did I know that was coming? No, of course I'm not.

I'm not in any related business either.

I just make a point of knowing what I'm talking about instead of going off half cocked and shrieking about financial collapse on the internet every couple of days.

[TwixVoy]

14. Where did I say financial collapse?

You and several other DUers have accused me of saying we would have a sudden financial collapse. Show me once where I have ever said that would you please?

I have ALWAYS said I thought we were looking at a slow multi-year down turn in which much of the middle class would fall to the lower class.

This is just indicative of the slow downward trend. Not "economic collapse". (Hate to tell you this sweetie, but you were the ONLY one saying this was a sign of "economic collapse")

This is just a further sign of Americans becoming further in debt to banks for things they can not afford nor need. In this case they are becoming more in debt to banks to buy nice shiny expensive several hundred dollar cell phones.

[LeftyMom]

15. Every other post of yours? It's the grand overarching theme of your hysterical nonsense.

You're still refusing to listen to a rational explanation of why this is no big deal because it doesn't support your thesis of economic doom in progress.

[TwixVoy]

16. Show me then

Show me ONE TIME where I said in ANY post we would have sudden financial collapse.

I have ALWAYS said this is a slow multi-year process.

I am calling BS on you. People like you love to say I am saying "sudden economic collapse", but I have said for months and months we are looking at a slow downward process.

[LeftyMom]

17. You're quoting something that doesn't exist.

I never stated that your hysterical shrieking was about a "sudden economic collapse." The "sudden" bit occurred only in your head. But you absolutely have been doing your level best to incite a panic based on bad evidence, while urging people to buy tens of thousands of dollars in gold (even though it's been explained more than once why that's a bad idea and wouldn't do much good in an emergency.) It's like a bad impersonation of Glen Beck, really.

[TwixVoy]

19. I noticed you didn't quote me

saying there would be a sudden collapse because I never have said that.

I NEVER said to buy gold for use in a crisis situation. Last year I recommended buying gold as an INVESTMENT due to the fact the dollar continues to lose value against it.

Last year gold saw HUGE returns. If you invested in it you would have done better than investing in an S&P 500 mutual fund. So why exactly was that "bad advice" when gold has seen significant returns since I made that "advice"?

I have always recommended investing in COMMODITIES (which includes gold) as these are REAL tangible goods to invest in.... which are in constant demand. Not fake paper investments such as mortgage backed securities.

[LeftyMom]

20. Oh for pity's sake, keep your story straight.

I give up. Either you don't believe your own shit well enough to keep track of what it is you're saying, or you're experiencing some sort of unique brain event. I don't care which, and really don't have the time to argue with you when you're obviously not rational in the slightest and have no clue what you're talking about on top of it.

[TwixVoy]

22. Have you noticed all you've done

is make personal attacks on me with random misquoted past statements thrown in?

Why can't you answer ONE question I pose to you? I've answered all of yours. Gold for instance... tell me why it closed on the year with excellent returns for anyone who invested in it, and why it was bad advice when I recommended people invest in it last year? Are high investment returns bad in your mind?

I think you simply have no clue about finances.... and you probably were not even aware gold closed out the year with high returns, otherwise you wouldn't have claimed it was "bad advice". Now you are spinning because anyone who takes 5 seconds to pull up last years returns for gold investors can see how full of crap you are.

[anonymous171]

2. They have to do this, otherwise people might start demanding higher wages. nt

[La Lioness Priyanka]

3. yeah, we shoudl totally not finance our education. after all higher education

should be limited to those whose fathers can pay in full.

[TwixVoy]

5. Or even better

how about making it affordable to all so students don't have to graduate with 100K in student loan debt?

[La Lioness Priyanka]

6. state schools exist for that reason, no?

[TwixVoy]

9. There are many state schools now

that are regularly leaving students with 50K+ in student loan debt after school.

[a la izquierda]

23. Well, that's really ridiculous...

and it's a problem of the states that charge that much.
I'll be $100K in debt after 4 years of a BA, 2 years of an MA and 6.5 years of a PhD.

[anonymous171]

7. Are you implying that college students shouldn't be debt slaves after graduation?

:)

[TwixVoy]

8. Yes but apparently Lioness see's no problem with that

[La Lioness Priyanka]

25. actually i do.

[Blue Owl]

10. The taint bomber is gonna need some equipment financing

If ya know what I mean...


;)

[LiberalFighter]

18. What costs more? A landline or cell system?

[SoCalDem]

21. Landlines are cheaper..but still not the bargain they used to be

I have a landline combined with my cable modem & the combined total cost is around $86 a month..with no extra charges for call waiting, call forward, all the "*" features and free long distance.. The modem alone ran me $59 a month..

Back in the "olden days" we paid $8-9 a month "rent" for the phones ( it used to be illegal to own a phone)..and never paid for a service call (although, they never broke down)..and we paid per minute for long distance..all local calling was included in the $8-9 monthly cost..

[MercutioATC]

24. I was given the option to have my activation fees and accessory costs added to my bill.

...to be paid off over three months.

That's "financing" equipment.

So what?