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Recode Daily

Buy now, pay later...but read the fine print

Recode Daily

Recode

Society & Culture, Science, Technology

4.61.3K Ratings

🗓️ 18 May 2021

⏱️ 10 minutes

🧾️ Download transcript

Summary

Thanks to Afterpay and Klarna, it’s easier than ever to buy in installments. Now, the model is coming for necessities. The buy now pay later concept isn’t new, but as startups make it more popular, what might be the unforeseen consequences, and why might Americans be particularly susceptible to going into more and more debt? Rebecca Jennings and Meredith Haggerty are co-hosts of the Vox Culture desk audio series, What’s the Story? Featuring reporter Terry Nguyen, who wrote about this topic for The Goods. Read the full story: https://www.vox.com/the-goods/2021/5/11/22429014/buy-now-pay-later-pandemic-expansion Enjoyed this episode? Rate Recode Daily ⭐⭐⭐⭐⭐ and leave a review on Apple Podcasts. Subscribe for free. Be the first to hear the next episode of Vox Quick Hits by subscribing in your favorite podcast app. This episode was made by: - Hosts: Rebecca Jennings (@rebexxxa) Meredith Haggerty (@manymanywords) - Producer: Schuyler Swenson - Engineer: Paul Mounsey Support Recode Daily by making a financial contribution to Vox! bit.ly/givepodcasts Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

It's easier than ever to buy things in so-called installments.

0:08.2

This idea that you buy now and pay later.

0:12.0

And now that model is coming for necessities.

0:15.3

Things like buying clothes or paying rent.

0:19.3

My colleagues Rebecca Jennings and Meredith Haggardy are the coast of the Vox culture

0:22.7

show What's the Story?

0:24.8

And they recently looked into this topic and why you should always read the fine print.

0:29.7

And today on the show, we're going to feature their findings.

0:32.8

If you like this episode, be sure to subscribe to the Vox, Quick Hits podcast feed that includes

0:37.8

their series as well as other culture news and analysis by Vox.

0:41.9

Thanks for listening.

0:59.7

And the one big purchase I wanted to make was a couch because obviously we had just spent

1:04.8

the whole year working from our own couches.

1:07.9

And I had bought a really cheap one that was extremely uncomfortable to sit on.

1:12.1

So I was ready to splurge a little bit.

1:14.4

I was like, this is going to be my big girl fancy girl purchase.

1:18.2

And I was pretty sure I wanted a leather one.

1:20.4

But unfortunately, leather is very expensive, so all the ones I wanted were like thousands

1:25.8

of dollars.

1:26.9

And eventually, I looked up all the sites.

1:29.5

I looked at reviews and everything and I was like, this is the one.

1:33.7

It's gorgeous.

...

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