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As 'buy now, pay later' surges, a third of U.S. users fall behind on payments


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God you're unusually thick today (sure you're dosing your meds correctly?)
 
Every purchase on levi.com is eligible for Afterpay financing, provided that your TOTAL purchase exceeds $35.  So, the fact that those jeans are on sale or not has no bearing, in itself, on whether you can finance with Afterpay (as long as your cart totals $35+).  Next time your jeans go on sale, if the price is under $35, maybe you want to double up your purchase, or consider pairing them with a snazzy shirt, so you can take advantage of Afterpay.  Or maybe not.
 
You may have aced math in 3rd grade, but you apparently flunked out of art class when it came to perspective.

You need a refund on your third-grade tuition.

When I tried to purchase a few days ago at ther sale" price, there was no option for Afterpay. When I tried an hour ago and logged in and selected my military 14% discount, Afterpay disappeared.

Seriously, a lobotomy will only help you.


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5 hours ago, PotO said:

When I tried to purchase a few days ago at ther sale" price, there was no option for Afterpay. When I tried an hour ago and logged in and selected my military 14% discount, Afterpay disappeared.

 

I know I'll regret asking this, but ... did the 14% discount reduce your merchandise purchase to under the $35 minimum for Afterpay?

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I know I'll regret asking this, but ... did the 14% discount reduce your merchandise purchase to under the $35 minimum for Afterpay?

Third-grade reading again. It's 15%, not 14%.

Let's revisit math. $39.99 x 2 = 79.98. With me so far? The 15% discount is $12.00 (actually $11.997). The total is $67.98. Most would agree that $67.98 > $35.00.

Also, Afterpay does not set a minimum purchase amount. It is set by individual stores. Some have no minimum.

Now let's look at that math again. Even if one were to order one pair of Levi's at $39.99 with a 15% discount, the stores that I checked include tax and shipping costs as part of the total for BNPL purposes. Levi's has a $7.95 shipping charge when you buy one paid of jeans. So let's look at the math. $39.99 - $6.00 (actually $5.9985) = $33.99 + $7.95 (S&H) = $41.94. $41.94 > $35.00. Nice try though.


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5 hours ago, PotO said:

When I tried to purchase a few days ago at ther sale" price, there was no option for Afterpay. When I tried an hour ago and logged in and selected my military 14% discount, Afterpay disappeared.

 

From the levi.com website:

 

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I bet none of y'all can explain why Levi's was offering me a 25% discount to sign up for Afterpay when I checked out in the store. Granted, they weren't having a sale in the store on the day I went. I just needed some jeans that fit after losing some weight (28 pounds lost since June of this year). If I had to guess, this works by Afterpay paying Levi's a smaller amount of money for the purchase price upfront. Afterpay then pockets the difference as well as any interest or late fees. This is obviously a highly automated process, so they are basically making money off these smaller transactions and through running the app. It's sort of like how Uber Eats and Grubhub get a 40% cut of orders from restaurants. They have little to no overhead and they just run their apps and pay the drivers a starvation wage. 

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I bet none of y'all can explain why Levi's was offering me a 25% discount to sign up for Afterpay when I checked out in the store. Granted, they weren't having a sale in the store on the day I went. I just needed some jeans that fit after losing some weight (28 pounds lost since June of this year). If I had to guess, this works by Afterpay paying Levi's a smaller amount of money for the purchase price upfront. Afterpay then pockets the difference as well as any interest or late fees. This is obviously a highly automated process, so they are basically making money off these smaller transactions and through running the app. It's sort of like how Uber Eats and Grubhub get a 40% cut of orders from restaurants. They have little to no overhead and they just run their apps and pay the drivers a starvation wage. 

First of all, congratulations on the weight loss! For many people, that's an incredibly difficult task to perform.

I think you are right about how Afterpay and other BNPL platforms operate and make money. Even though Levi's gets less money for the jeans, I'm sure they still make a decent profit. Also, they are probably increasing (or expecting to increase) volume and reach customers that they ordinarily would not have.

It's interesting that you mention Uber Eats. I've only used them once several years ago and immediately gave up because their service sucks elephant richard.

The other day my son used Uber Eats in San Diego and I noticed something interesting. The day before using Uber Eats, he had eaten at the same restaurant and the bill was, say, $30. Then the following day he ordered the exact same menu items via Uber Eats and the bill was still $30 for the food, plus around $4.95 for the Uber Eats surcharge and a few dollars for the delivery charge. I don't remember the exact amount, but it seemed to me that the driver was earning practically nothing -- probably even losing money - unless you leave a decent tip.

Then there is the thing where AmEx cardholders get the Uber Eats fee waived and then a rebate (or something like that). I don't see how they earn money unless the restaurant also gives them a cut. And the driver? I wonder if they are even breaking even.

Anyhow, then my son had the bright idea that he could earn money by delivering for Uber Eats on weekends. I told him fook no! If he tries that stunt I am taking the car keys from him.


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