I understand, it's not just the needy. Easy credit also facilitates more corruption and inflation.
> the dealer is going to need to charge a higher price
Not if no one is buying at that higher price.
> The amount you end up paying in total for the car is approximately the same under an installment approach than under a loan-with-interest approach.
The difference is now the same item (car) is being sold at two different prices depending on whether or not you can (or are willing to) pay up front. This is substantive difference.
> This is what most startups do, yes
Exactly, and this model should be extended to other facets of financing, it's only fair for both the investor and the "borrower". It will lead to a much more fair society, and will play a huge role in closing the wealth gap.
I understand, it's not just the needy. Easy credit also facilitates more corruption and inflation.
> the dealer is going to need to charge a higher price
Not if no one is buying at that higher price.
> The amount you end up paying in total for the car is approximately the same under an installment approach than under a loan-with-interest approach.
The difference is now the same item (car) is being sold at two different prices depending on whether or not you can (or are willing to) pay up front. This is substantive difference.
> This is what most startups do, yes
Exactly, and this model should be extended to other facets of financing, it's only fair for both the investor and the "borrower". It will lead to a much more fair society, and will play a huge role in closing the wealth gap.