It was the talk of the sneaker world this past weekend, and it’s carried over into this week. Flight Club is offering financing on their kicks? You can now split the ridiculous cost into multiple payments, and you don’t have to cough up all the cash up front?
Yeah, that’s the case. If you head over to the Flight Club website, you’ll see that you can split the payments for your kicks, and have up to a year to pay them off. Need those Yeezy 750 boosts but don’t have three racks sitting around? You can now pay a couple hundred bucks a month for them.
It’s a great idea from a business perspective because Flight Club winds up taking an even more ridiculous amount of your money than they would otherwise, but how is it from a sneakerhead’s perspective?
Here’s what I think (cue Broke Boi by Playboi Carti):
It’s for broke boys. Financing a car or a house? Totally understandable. Happens all the time. Financing a pair of kicks? Not OK at all. What sneaker do you need so bad that you’re willing to pay Flight Club’s ridiculous resell prices….and split that outrageous amount into twelve monthly payments? Those shoes better print money while you walk if you’re going to make that kind of investment.
With how many “limited” releases there are nowadays, today’s hot shoe could be totally irrelevant in two weeks. Do you really want to be stuck paying that shoe back for a whole year just to flex for a week or two before they go into your sneaker pile? No, you really don’t.
Plus, it’s not as straightforwards and simple as splitting up the whole amount into smaller payments. There’s a steep APR of 10-30% depending on what your credit looks like. You can do the math for yourself if you’re so inclined, but if you tack that onto a $500 shoe, you’ll be paying well over $500 before it’s all said and done. And if you miss a payment?? Sheesh.
It’s not worth it. If you plan to buy a pair and rock the hell out of them, chances are they’ll be shot before you’re done paying them back. If you plan to buy them to stock, do you really want to be paying a high monthly rate for something that you’re not even using?
Just don’t do it. Financing shoes is broke boy behavior. You’re better than that.