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71 sats \ 2 replies \ @SimpleStacker 15 Apr \ on: Coachella Kicked Off Today, More Than 60% of Its Crowds Financed Their Tickets econ
We have to be careful about making broad generalizations here. Is the $49.99 upfront a downpayment or a fee? If it's a downpayment, then the lender is basically floating you an interest free loan for a few months. If you are fully responsible and able to pay it off, there's no reason not to do this other than the risk of forgetting.
If it's a fee, then that's crazy. The implied APR would be ridiculous.
Later in the article, there's this quote:
Ticket buyers are charged a $41 fee for using Coachella’s payment plan, similar to what other festivals charge fans for the use of payment plans.
So not sure about the $50 (which I think may just be the down payment), but there's an obscene fee on top of things.
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$41 fee on a $600 ticket? That's robbery bro.
The last thing I would want to check though is whether every ticket buyer has to pay a fee, payment plan or not
(I know the article says $41 fee to use the payment plan, but things like that easily get twisted by journalists... for example, if there's a $41 fee to use any kind of online payment, for example. Sorry for nitpicking, I'm just super suspicious of sensationalist articles)
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