nevilence :
If someone cant afford the 300 bucks the stupidest thing to do is stick it on a credit card, the final cost will be much more than just $300. Silly idea
I completely agree. The problem is that there is one thing even stupider. Getting financing from the person selling you the item. Do the calculations. You think 20% interest from the credit card company is bad? Seller supplied financing is often much worse.
The problem is not just the insane interest. The problem is that often times when enough customers take the financing all customers pay for it whether they pay full price or not. My example was cell phone plans. for example, Verizon charges all post-pay customers for financing (through inflated rates) whether they buy a subsidized phone or not. This drives the total cost of ownership up for all customers. Yes, prepaid options exist, but because carriers make less money on prepaid so they discourage it through a variety of means.
Another example is ink jet printers. Most manufacturer's sell the printer near or below cost. They then make the money back in ink. There is not usually a good way to pay full price for the printer and then pay less for ink (without going to a different technology such as laser printing.) This drives the total cost of ownership up for all customers. Yes, you can buy remanufactured ink cartages or refill your own, but there are other draw backs to both of these options.
In other words, I don't think it is the place of the seller or manufacturer to offer financing. Let a separate financing company do that. Those who can't get their act together to save most likely won't look for a good low interest loan. That is why I mentioned credit cards. They are even easier than seller supplied financing.