GameStop offering ‘installment plans’ for Xbox Series X and PlayStation 5
Brick and mortar store chain GameStop thinks they can get into the installment plan business to make more money from the next-gen consoles.
Simply put, GameStop will offer customers three ways to buy Xbox Series X and PlayStation 5 consoles. The goal is to entice buyers who can’t afford to cough up the whole asking price, since the Xbox Series X costs $499 and the PlayStation 5 is expected to cost a similar amount.
GameStop’s proposed options
- Third-party plan: Financing will be offered through third-party providers like Quadpay and Klarna, with four zero interest payments split across six weeks.
- Direct layaway: This option will be managed by GameStop itself, and allows customers to pay small installments over a period, only receiving the console after you have paid in full.
- Rent-to-own: Finally, there’s the rent-to-own option where you pay a small amount up-front, take the console home and then pay monthly for up to 12 months, after which you own it. You can return the console at any time during the payment period.
Bitesize plans: Microsoft offers their own installment plan called Xbox All Access, offering both Xbox Series X and Xbox Series S consoles bundled with Xbox Game Pass for $35 or $25 a month for two years.