Post AzIf9erV1IfC6ipYu0 by cpm@spore.social
(DIR) More posts by cpm@spore.social
(DIR) Post #AzIXage1hVR5p0uF8q by futurebird@sauropods.win
2025-10-17T11:02:04Z
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Do any companies offer "layaway" anymore? It seems almost quaint and responsible in the landscape of "pay in 4" (klarna afterpay et al) "buy now pay later"
(DIR) Post #AzIXzdtn2wFIXtBAzQ by futurebird@sauropods.win
2025-10-17T11:06:35Z
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Like "buy now pay later" a layaway service targets low income customers. People who want to buy something but don't have the money all at once to do it. I don't think "digital layaway" would be possible since a big part of why this service ever worked was the shopkeeper having your item up on the layaway shelf waiting for you. Layaway also had predatory aspects, but it seems much less horrible than these modern services.
(DIR) Post #AzIbxFr9reLrDV4640 by llewelly@sauropods.win
2025-10-17T11:50:58Z
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@futurebird I thought buy-it-on-layaway was mostly replaced by "rent-to-own"?(I know they're different, because with "rent-to-own", the item goes home with the renter, but there's a lot of overlap, and it seems most people will tolerate more predatory policies when they get to take it home right away.)
(DIR) Post #AzIf9erV1IfC6ipYu0 by cpm@spore.social
2025-10-17T12:26:46Z
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@futurebirdOMG!Grew up in Atlanta in the 60s& the TV ads, targeted *directly* at 'Blacklanta' were so insanely predatory. CriminalOne in particular:"She doesn't have to worry!"(professionally dressed black woman walking down the street)"She can Throw Away her Purse"(woman swings her purse off into the weeds)"90 Days Same as Cash!"--bulk food distributor advertholy shit!
(DIR) Post #AzIftZjoP39TXK87gO by shtrom@piaille.fr
2025-10-17T12:35:05Z
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@futurebird There's lay-bys here in Australia: put your name down, pay in some installments. There's generally no extra fees, but there might be a non-refundable deposit. When you paid it all, the thing's yours.
(DIR) Post #AzIluCw1GlJapQWai8 by futurebird@sauropods.win
2025-10-17T13:42:26Z
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@fivetonsflax OK the hilarious thing is these new “micro credit” services eg. klarna are NOT making a profit even with the most predatory of terms. They do zero work on approving their loans (they would howl and cry at me for calling them loans — but who are we kidding here?)Anyway they have like a 50% default rate and maybe they get the principal back but NOT all the fees they fantasized about. So these lenders are now junk companies. Like being a casino and losing money.
(DIR) Post #AzImDlSt6xkvQLDxD6 by noplasticshower@infosec.exchange
2025-10-17T13:45:59Z
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@futurebird @fivetonsflax tru.p can do that
(DIR) Post #AzImvfMHB1pdE546oS by futurebird@sauropods.win
2025-10-17T13:53:55Z
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@sidereal @fivetonsflax If they set up a little table and were lending 20 bucks to anyone who walked up and gave them $5 no one would invest in that. It’s a terrible idea. It’s not enough money to chase a person for and it’s not enough for them to even remember. “technology” is meant to be the magic sauce to fix this but one must as why the sellers don’t want to do that themselves? It’s a horrible idea.
(DIR) Post #AzIpCfHEvq99nzwWem by Melezioh@mstdn.games
2025-10-17T14:19:18Z
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@futurebird last I knew, Walmart still did layaway but they may have gotten rid of it. GameStop basically does layaway for pre-orders. You can pre-order the item and pay on it until you pick it up.
(DIR) Post #AzIpWYHYeG1nu2Zgps by futurebird@sauropods.win
2025-10-17T14:23:00Z
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@Melezioh Walmart got rid of the service in 2006.
(DIR) Post #AzIpfBBhskEesox4Ua by Melezioh@mstdn.games
2025-10-17T14:24:29Z
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@futurebird oh really? I thought it was still around recently. I guess I only know of GameStop. I guess it is getting replaced by the pay in four companies.
(DIR) Post #AzIx1aHnwlhAm4R06a by maysonic@twit.social
2025-10-17T15:46:57Z
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@futurebird @fivetonsflax Could it be money laundering?
(DIR) Post #AzIzyHGMWBqYlhsHwG by UkeleleEric@mstdn.social
2025-10-17T16:19:59Z
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@futurebird @sidereal @fivetonsflax I think we need to re-normalise people saving up to buy things, and 'being able to afford it' NOT meaning 'being able to make the repayments'. A year ago, I commissioned a professional to make me a ukelele. His terms were simple - 50% to start (which gives him the assurance you actually will buy it, and covers all the costs of materials), and 50% when finished. I had calculated what I could afford, and when, and it works.
(DIR) Post #AzJ7UFx9cg0beU5OZk by ekg@social.librem.one
2025-10-17T17:43:55Z
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@futurebird @sidereal @fivetonsflaxThey where sheltered by setting up in Sweden first, they had a 0.3% profit margin. Almost everyone paid on time, and the ones that didn't landed with Kronofogden, the public agency that collect debt on behalf of lenders.
(DIR) Post #AzJCB5rzO6AyeELszg by futurebird@sauropods.win
2025-10-17T18:36:49Z
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@fivetonsflax @UkeleleEric @sidereal Ben, this is what I thought as at first, however, on closer examination, I think it’s being used to spur additional impulse purchases. Your local loanshark or payday lender tends to fill the gap that you’re describing more often. I think people are more considerate about taking out a loan than they are simply paying in a different manner and maybe making an additional purchase.
(DIR) Post #AzJCaQo4gLVOp1bRVA by futurebird@sauropods.win
2025-10-17T18:41:26Z
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@fivetonsflax @UkeleleEric @sidereal This is a whole new world of credit and I don’t understand why they think anyone with bad credit would bother to pay back these little loans. Paying down substantial debt consistently is more important to heal a wounded credit score. These little loans can (and will) be forgotten. Terrible business idea!
(DIR) Post #AzJCi3QhTsrAdVIxEm by oldladyplays@wargamers.social
2025-10-17T18:42:12Z
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@futurebird @fivetonsflax Anyone surprised that Trump is not yet in this field with both feet? It's economically illiterate, obviously foolish, and is destined for bankruptcy. It's already brand-built for him.
(DIR) Post #AzJQtsoYAmzmXwzkDA by futurebird@sauropods.win
2025-10-17T21:21:41Z
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@etsyy Then they will prance around and say they are "doing good" by "banking the unbanked"
(DIR) Post #AzJgviIpp9xnn83TV2 by sbourne@mastodon.social
2025-10-18T00:21:17Z
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@futurebird Reny's, a department store chain in Maine, recently started putting out Christmas stuff, complete with signs: Layaway available! I always thought it a strange thing, but had many friends who used it. They wanted to get sure to get exactly what they wanted even if they didn't have the cash right now, instead of the leftovers later.