'Eat now, pay later'? DoorDash-Klarna deal fuels concerns around loans for takeout

Dave Hess

Dave Hess

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'Eat now, pay later'? DoorDash-Klarna deal fuels concerns around loans for takeout​

https://www.nbcnews.com/business/bu...klarna-buy-now-pay-later-food-debt-rcna197354


I think it’s troubling if some people can’t afford to order food from DoorDash and use installments to pay for a $20 pizza.

How can Buy Now Pay Later companies give out so much credit to customers that have no intention of paying back these loans ?

Ive read some customers are using various BNPL apps to buy groceries.
 
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doordash groceries are a scam I've said it for months.
with all the fees and such its about double.
all I can think of is using bad CC or using it to shoplift or something..
some scam going on there.. maybe multiple.
 
I never really caught on the all the DoorDash stuff. I mean, I pay for a burger and fries, they make it, it sits on a shelf until someone comes and gets it. Then it travels however long to my house. Then I have to tip the driver, plus the extra cost of delivery. Now my fries are mushy and my burger is mediocre cold.

And now there is install,ent payments available because I’m ordering stuff I can’t afford?
 
I've never used the service but have read about it, sounds like a total scam. They mark up all the food prices, charge delivery and service fees, pay the delivery driver $2. In order to get your food delivered, you need to leave a tip in order for a driver to accept your order. By the time it's all said and done, you've paid double over pickup ordering directly with the restaurant.

Now they want you to finance it with a high interest rate? This takes a special kind of stupid.
 
It kind of makes sense for me. Kind of an egregious comparison I'm making but imo, if a person is lazy and/or stupid enough to pay double for their food or groceries to be delivered then I see why they're too poor to pay and have to use payment installments.
 
Gathering profiling data on an unclearly delineated demographic, perhaps?
Namely, working poor people...to which resourceless and possibly stupid might be added as adjectives.
Solicitations for other helpful products and services can reach the right folk.

And don't overlook the vast increase in refuse (litter/garbage/unrecyclable materials) produced.
 
Stupid? Even more stupid are the students who are borrowing money to attend college / university who stand in line at bars waiting to pay $5-10 for a beer on their borrowed money!
 
1743346674255.webp


True?
 
Setting aside the door dash part - of which the comments above are accurate, the buy now - pay later is basically a new type of revolving credit. Instead of putting it on a credit card and making minimum payments forever, you can BNPL and instead of $20 its $5 payments every 2 weeks for 4 times - or maybe a little more with fees.

I don't think its good, but I don't think its any worse than Wall Street banks giving credit cards to kids that should not have them. My personal opinion only.

When you base your entire economy on consumer spending of unproductive things, this is what it was always going to devolve into.
 
Dave Hess said:

'Eat now, pay later'? DoorDash-Klarna deal fuels concerns around loans for takeout​

https://www.nbcnews.com/business/bu...klarna-buy-now-pay-later-food-debt-rcna197354


I think it’s troubling if some people can’t afford to order food from DoorDash and use installments to pay for a $20 pizza.

How can Buy Now Pay Later companies give out so much credit to customers that have no intention of paying back these loans ?

Ive read some customers are using various BNPL apps to buy groceries.
Click to expand...
How is it different than buying on a credit card then paying last months groceries and dinner next month?
 
SC Maintenance said:
That was sorta me 30 years ago. I turned out OK. Work hard play hard. College was awesome - met my wife there.
Click to expand...
Agreed and I don’t think it’s the same as financing lunch. I had great times going out in college and made friends and memories that I’ll have forever. Did some of my student loan money finance some of that? Probably.

I’ve never used a food delivery service and certainly wouldn’t finance it.
 
dishdude said:
I've never used the service but have read about it, sounds like a total scam. They mark up all the food prices, charge delivery and service fees, pay the delivery driver $2. In order to get your food delivered, you need to leave a tip in order for a driver to accept your order. By the time it's all said and done, you've paid double over pickup ordering directly with the restaurant.

Now they want you to finance it with a high interest rate? This takes a special kind of stupid.
Click to expand...

I agree 100% with you but sometimes I’m not in the mood to go to a restaurant or Chipotle and it becomes a chore to get my food. Traffic, waiting in line, driving back home, etc…

UberEats delivers food to my house 3 times per week.

I know I’m paying double for the convenience….
 
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Dave Hess said:
I agree 100% with you but I’m not in the mood to go to Chipotle and it becomes a chore to get my food.

UberEats delivers food to my house 3 times per week.

I know I’m paying double for convenience….
Click to expand...
I think the difference is that you're aware of the decision you're making, and there is value in the service. No different than paying for a valet.

One could argue the "paying double (or whatever markup) for convenience" concept should be self-evident, but I'm thankful I have a dad who bothered to explain that to me as a young consumer. Not everyone had that - hence financed Big Mac meals.
 
SC Maintenance said:
That was sorta me 30 years ago. I turned out OK. Work hard play hard. College was awesome - met my wife there.
Click to expand...
Meeting girls while attending college is THE BEST WAY to meet wife candidates. It's the perfect time and place to assess their core beliefs, their intelligence, and their motivation. I've been married to a "college girl" for 48 years. I still remember the first time we made eye contact while walking on campus. We've been together ever since.

Scott

Sue and I at the 2024 Indy 500. The "eye contact" was in 1974! Fifty years ago!
IMG_9238.webp
 
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