alt Hacker Newsits not that they wont have $433, it is that people will be unwilling to shell out $433 for two year old device, if they have an option to renew it for a shiny new model and roll forward into another BNPL loan
Replies
DarmokJalad1701 • yesterday at 10:43 PM
> roll forward into another BNPL loan
It is not rolled forward. If they don't want to pay the $433, then they don't. They return the device and the new device's lease doesn't include that $433.
It's not like a used car loan that some people have that keeps growing with each transaction (and at insane interest rates).
I checked the price for a used iPhone 15 pro (ie. 2 year old iPhone) on ebay and it's around $400-$500. Therefore the implied depreciation of the lease is pretty fair, unlike the lowball offers you typically get for trading in a phone.