Current-gen console sales are slowing, as evidenced by the latest batch of NPD reports in the United States. This is entirely natural, of course: Sony’s already said that the PlayStation 5 is coming next holiday, so there’ll be a sizeable percentage of potential buyers waiting for the new hardware to drop. Microsoft, however, has an ingenious solution for this problem: a financed Xbox One purchase plan which includes an upgrade option for its next-gen system.
It’s quite complicated, but here’s how it works: commit to paying $19.99 for 24 months and you’ll get an Xbox One S All-Digital, a 24-month subscription to Xbox Game Pass Ultimate, and the option to upgrade to Project Scarlett once you’ve successfully completed 18 instalments. There’s an even better programme for the Xbox One X, where you’ll pay $30.99 per month for a couple of years, but you’ll be able to upgrade to the company’s next-gen system in 12 months.
While you typically end up paying more when you’re bound to these kind of contracts, the deal actually works out quite well; in the aforementioned Xbox One X example, you’d end up paying $743.76, when the MSRP value of the items you’d receive sits at $758.76. Of course, this total doesn’t factor in any hypothetical deals or price drops, but we don’t know how much Project Scarlett will retail for either.
It’s all about locking the customer into the company’s ecosystem, which makes sense given the prevalence the Redmond firm has placed on Xbox Game Pass in recent years. But is this something that you'd consider for PlayStation as well? Sony could certainly offer a similar style of scheme, bundling both PS4 Pro and PS4 Slim consoles with PlayStation Plus and PlayStation Now memberships, in return for a monthly fee.
The key thing here is that, with the PS5 right around the corner, it could also offer an upgrade plan for those who want it. But is this something that you’d personally consider? Would you be willing to commit to some kind of contract in order to spread your gaming-based payments and potentially pre-purchase your next-gen system in the process? Let us know.
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uhm no.
i rather pay full price for my ps5 and be done with it. keep it simple. besides buying the system outright means you actually own it for real.
no hassle,no possible restrictions regarding the ownership and selling it etc.
Yeah unless I can buy it outright I won't buy it.
Phone companies do this - partial payments - ALL THE TIME so you can't fault the practice, but in the US Gamestop has decent trade-in deals all the time w/o having to spend anything on an X1 SAD.
I'm OK w/ Sony doing a flat out "rental program' for PS5 if it's too expensive, not for me, but there are probably plenty of college students these days used to "renting" everything so it might be for them.
It could be better to 'rent' if repairs or faults are covered without any hassle but for me I'd rather just save up and buy it.
No, thanks... I like actually owning my stuff.
I rather pay my ps5 like the old fashion way.i dont need to worry about the hassle of contract.nah dog.word up son
so it's like buying from a catalogue or a company like Bright House, no thanks
i would rather save and pay it all at once thank you very much
No, I'll buy ps5 straight financed by my old console (ps4 pro).
I read it, but a tiny skim was all I needed to know. I'm not getting a monthly car payment for a game console. If I can afford it I can afford it. If I can't I can't. This just looks like a really bad idea. If you use this then you might want to consider if this is a bad idea to sign-up for long term given the amount of money you probably have access to.
i've already got a PS4 and a PS4 pro. the upgrade option seems unlikely to apply to people who currently own a machine, and it seems a bit like a desperate ploy by MS have some 'momentum' going in to next gen. i'm not a big fan of locked-in subscriptions (my phone isn't even on a contract), or hire purchases (i'd rather pay it all up front or wait til i can cover the cost) so it's not really for me. it depends how much PS5 is going to cost.. if it's going to be fairly pricey, then a smartphone style subscription model might appeal to a lot of people, so maybe something they could consider, assuming they have broader marketplace presence to do so. not that i'll be buying an xbox ever, but its all-access plan really would only give me the option to deal with game and i wouldn't put a lot of faith on its continued highstreet survival.
I have enough contracts , subscriptions.
Not a credit person. Better save and be done with it from get go.
It can work for some people, but like streaming, it's not "normal" so people get upset by it. I wouldn't say never, I use interest free finance regularly and it's a good way to keep your money in your bank account while paying off a big purchase. I know this isn't interest free but it is still not a bad deal.
Anyway, if Sony announced something, I'd consider it. But then you could just pre-order off a company like Very or Curry's and have 12 months interest free anyway.
I would be up for some kind of upgrade plan, too. I was looking at my Pro yesterday and wondering what I’d do with it when the 5 comes out.
I would rather buy outright - I don't like buying anything in installments unless I absolutely have to (e.g. vehicle payments or mortgage).
I plan to use my PS4 Pro as a trade-in for a PS5. I also plan to use my Xbox One X as a trade-in towards a Scarlett. Hopefully there will be good trade-in deals around the new consoles - I plan to wait a few months before going all-in to ensure there aren't any glaring hardware issues with the launch stock.
No, for the same reason I buy my phones outright... these types of contract are a rip-off. Particularly when the product isn't out yet... just put the money aside each month.
Who is going to handle Credit Checks and loan defaults. Most people have credit cards that have a credit good credit history. Many CC's have long term 0% interest for set amounts of purchase. My guess is Microsoft will issue a bank credit card like the Playstation card with a first purchase extended payment plan.
I think I'll just trade in my Pro on PS5 release day, or there abouts, and pay the rest which I'm diligently saving for right now!
Man, Xbox are making some killer moves lately.
I'd still prefer to just buy a console outright but this is great to have as an option and will only help Xbox get more people into their ecosystem.
I don't think Sony should necessarily follow their lead yet though.
The option is great for people who can’t justify a direct purchase but can justify a monthly plan.
Also this would definitifily increase sales.
From a company point of view this is a bad idea, just ask all the phone providers. People will take out the plans and then just not pay like they do now with mobile phones and bright house and the other finance companies. It was this type of practice that caused the global financial crisis. Offering people expensive items they can't really afford and then complain when they don't pay. Bad idea.
I probably wouldn't go for it, it feels like my life is becoming a haze of subscriptions
It's approximately a year till the PS5 is released. If you're not in a position to buy it outright put £10 away each week, from now till then, sorted. Far safer than being tied to some credit agreement you may default on.
No, just make that upgraded version the base version.
Nah! We already have so much passes and stuff to think about, don't make us do math now lol
I personally would probably not use the option, but I think it’s a good idea in concept. There are risks, but it wouldn’t differ that much from a phone plan.
Stupid cell phones ruining everything lol. No freaking way. I get removing the upfront cost barrier to an extent but NO. No more SUBS
I wouldn’t but it isn’t a bad deal and I’m the case of an MS deal, not bad at all. Locks you into their games ecosystem and also helps them know how much to order. It is no different to me saving up for a PS5, which I will be doing come Jan.
Not a chance. When you tally up the interest you’ve paid on these payment plans, when all is said and done you have paid far more than the retail price of the console.
Really depends on the upgrade cost - if the total spent ends up being discounted after it's all said and done I would say it's worthwhile. I know I'm gonna be playing Playstation and subscribing to Plus or Now for the foreseeable future so I would think about.
It’s not a bad idea. I certainly like it more than a phone contract. The major difference between a phone and a console is that there’s a greater risk of something bad happening to the phone.
naa Sony should stick to the way things are.
I haven't bought a PS4 pro and extremely unlikely to at this point.
But with the option of paying a bit extra for a ps5 and to get a PS4 pro in the interim, with all repairs covered, I could be persuaded as long as I owned the PS5 with the last payment.
@kyleforrester87 as long as ps5 is BC i will gladly trade in my pro for some money off. But like i said, i need to see details on BC.
That's a pretty genius move to get people easily invested into their next-gen console ecosystem.
While I don't think I'll personally find Microsoft's next system to be worth my time, this is a smart move on their part.
No i dont want too get into dept for a console i rather buy it straight away. And digital has zero value for me. And im keeping my MHW PS4 Pro. 😉
Nah I work for a living and don't need a payment plan for a console lol
@ellsworth004 yeah, the problem is I’ll inevitably order mine online and when it arrives I’ll basically forget about the Pro. It’ll take a lot for me to build up the energy to dust it off and drag it into town for £70 or whatever they’ll give me for it! The value of them will drop off a cliff too once PS5 drops, as everyone goes to sell their old consoles at once.
I’ll probably end up giving it away at some point.
That’s assuming it’s fully BC of course. Otherwise I’ll keep it.
Its great for some people - walk into a shop and walk out with a console and Game Pass - much like taking out a mobile phone contract but for gaming. I believe at the end of that contract, you can upgrade or keep the console until you want to upgrade with only a renewal of any Subscriptions - like Game Pass if you want to keep playing.
For those that maybe looking to have an additional console (as I assume most here will have a PS) but put off by the cost of everything all at once - paying several hundreds out for console, games etc - they can walk into a shop, commit to a 24month contract at various price points, get home, set up your console, download and start playing any of the 100+ games - inc all the latest Exclusives and games like the Outer Worlds. If you go for either the S or X (not the Digital), then you get a 4k HDR Bluray with Dolby Atmos as well. You don't have to buy a game for it at all and just buy all the games on your Playstation if you want and use the Xbox purely for Game Pass games - inc some you may have thought about buying before (from either this or last gen). You can look for very cheap XB360 games that are BC and/or, if it includes or you buy Gold, get 4 games a month free too...
As I said, I can see this being great for some people but won't suit everyone. You don't have to upgrade and at the end of the contract, you still have a console at the end of it to sell, trade or just keep playing any of the games you still have on it - at least if you renew your Game Pass membership which will run out at the end of your contract.
I think it's a no brainer to offer these options, not everyone has the capital outlay straight up. I'm more inclined to get a year interest free but if it was offered bundled with now and plus at the right price, I would be up for it.
i will pay upfront, and if i dont have the cash right there and then i will just save up until i have. i am not in a hurry to get a ps5, i have plenty of games to play on my ps4.
Sony is in a great position so they din't need to fo this since people will buy the PS5 regardless. I was planning on trading in my Pro, which will save me money.
@kyleforrester87 yeah BC is the main thing for me. If it is ill probably get it day one, if not ill probably tey to wait until i finish alot of the games i already have. I saw a article saying ps5 may not be fully BC, that worries me. I cant remember what exactly the article said though.
i am pretty sure the user owns the console after the 24 month period is up. not sure why so many people on here have the idea that you will not end up owning the console. you will. the thing is, you can do a 24 month financing option at many big box retailers anyways so this is nothing new. i can go to best buy and get the exact same deal, the only difference is the upgrade to the next gen console which nobody but microsoft will do. i may consider financing ps5 at best buy when it releases since $600 ish dollars is a lot of money. so long as there is zero interest, it makes sense to pay in installments if you don't want to throw down so much money all at once.
@DeepSpace5D there is zero interest at big box stores like best buy on 24 month plans. so really, the customer has nothing to lose. this is a VERY old idea. has been around for decades, yet people are surprised by this since microsoft framed it in a different way heh. the upgrade bit is new and inventive, but other than that, you can easily finance a ps5 next year with zero interest over a 24 month period should you wish to do so at one of many big box retailers.
@jdv95 you will own the console for real after the 24 month period is up and all payments have been made. this is an old idea. you can walk into a number of big box retailers and purchse a ps4 right now using this method. there is no interest so the customer has nothing to lose. if at some point in the 24 month period you want to drop a lump sum and pay off the remaining balance, you can do that as well. i'm having a hard time understanding why people are offended at this idea?
Wow, seems like a great way for MS to get even more people on the credit train. All aboard the debt express. Considering the financial authorities were supposed to make it harder to get credit after the crash in 2007 it's seems even easier to get it these days.
I prefer to keep it all under my control. I'll pre-order PS5 and will keep my Pro for a while just in case if not all services/games (one game I'm playing) are fully supported. When I'll be sure that I can stream/edit my videos on PS5, only then I will sell it 😅 That's my plan 🤠👍
Also planning to buy Stadia, to see what is it. Hope they will have some kind of cloud video editor there 😜
I would rather pay full boat up front and be done with it. That's the way to it. I remember walking backwards in the snow to pay full price for my SNES at electronic boutique and that's us old timers buy consoles
@Porco Not sure why you’re bringing up stores like Best Buy.
This article is about Xbox’s All Access payment plan and whether or not Sony should follow suit. As my original comment states, you absolutely do pay interest in Xbox’s All Access upgrade program, with an APR chosen based off your credit score.
Why not? Sony has taken cues from Microsoft before (some good examples here: https://www.thegamer.com/playstation-xbox-copied-same-things/).
Ultimately, it's up to the consumer - 56% of those polled said 'no' and want to continue buying hardware the same old way, nothing wrong with that. If the other 44% want to take up the other option, more power to them.
"It’s all about locking the customer into the company’s ecosystem" - absolutely agree with the author - my only thought on it is that since Sony has dominated this generation and digital sales have finally surpassed physical sales (https://www.pocket-lint.com/games/news/playstation/148825-sony-ps4-digital-sales), that those that jumped ship from Xbox 360 to the PS4 are probably already locked into the Sony ecosystem since that's likely where they bought their digital games from.
If you can’t afford it you don’t have it simple gaming is a luxury so you pay for your priority’s 1st like rent etc then after all your bills are paid and still can’t afford you save up till you do its better to save up then get yourself into debt for something you can’t afford
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