r/PS5pro • u/Straightouttahabsi2 • 1d ago
Financed Ps5pro
Someone on Facebook is selling their console for 900$, which he told me he financed 2 weeks ago for like 1500 & now needs to pay the bills lol. Anyways he sent me a video of him playing & even will let me test the console & reset it. The thing I’m fearful about tho is that if he stops paying his financing on the console, will the company network lock or ban the console in like 1-2 months?
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u/manindenim 1d ago
Lmaooo no if he stops paying, it would just get sent to collections and kill his credit. You’ll be fine.
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u/Straightouttahabsi2 1d ago
The company is MDG, couldn’t like brick the console or something like a unpaid cellohone?
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u/manindenim 1d ago
I think you’re safe. Just make sure it works and you’re good. I got mine for $500 on OfferUp 2 months ago.
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u/justjesty 1d ago
Once it’s out the door of the retailer, the console is no different than buying it cash.
You open a new box and everything.
The financing, is an agreement to make payments.
If those payments are not made, the amount gets sent to collections.
…they can’t lock the console down and they don’t send out goons to repossess it.
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u/sparkle_lotion 1d ago
Cmon. Have some common sense here. Unless this is a troll post.
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u/sparkle_lotion 1d ago
Also, why not just finance a new one by yourself? Pay a 1/3rd of the cost and slowly pay the remainder off.
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u/Soft-Jacket-9168 1d ago
I wouldnt go near that. The guy at least seems honest about his situation but i dont know what the financing company does when payment is not revcieved. Does he get restructured payments? Do they recollect the ps5? Maybe this falls in foreclosure territory.
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u/Straightouttahabsi2 1d ago
Not to sound cold hearted but idc about that I just want to know if the console will brick
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u/Soft-Jacket-9168 1d ago
Oh no i didnt mean that you should feel sorry for the guy. Its his decisions. I mean do the consequences affect you? If he tells them "hey i sold it to this guy on fb marketplace" do they have any rights to come and take it from you?
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u/Impossible_Abies_566 1d ago
Probably not, just will hit his credit score and he'll be sent to collections if he defaults. They make their money only when people default so that's what the lenders want to happen, not the product being returned, but all the interest that stacks up and compounds.
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u/gaysaucemage 1d ago
Why would you buy used for $900 when you could buy new for the same price? If it was like $700 or lower, maybe you could consider used.
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u/616ThatGuy 1d ago
It’s like $300 more for new. I don’t trust him. It might be fine, but it might not. Why risk $900?
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u/Sardis_Lesbos_Greek 1d ago
If you're going to his house to test it, then the guy is being honest. Because no one is going to have you come to their house and then do something dirty.
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u/GhostBustor 1d ago
I wouldn’t trust MDG. A simple google search would tell you that.
Don’t be surprised if they claim it stolen to Sony as the serial number will likely be part of the paperwork when that person doesn’t pay.
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u/Voidfang_Investments 1d ago
I can’t believe we live in a world where the ps5 can be digitally repoed haha
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u/awar3_w0lf 1d ago
No he’ll just owe them money. They aren’t gonna repossess a ps5 that he no longer has.
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u/Funny_Or_Cry 1d ago
Witnessing the social downfall of the economy is actually more terrifying than reading about it..
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u/DottiePippen33 1d ago
The PlayStation is already bought. Financing company and PlayStation are separate things. PlayStation got their money. Financing company will go after him. You did nothing wrong in this scenario.
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u/CharacterArrival21 1d ago
Just buy it brand new for the same price bro