Photo by Bob Miller/For The Washington Post
Expensive items like iPhones, sofas, and computers can be paid for over monthly installments instead of a lump sum. Retailers are working with people who can't quite call themselves middle class, giving them access to luxury goods by offering long-term payment plans.
The problem? These payment plans add up to far more money than the retail items are worth. A sofa-love seat combo worth $1,500 could reach $4,150 if paid for over a two-year, weekly payoff plan.
Are retailers really trying to help make goods more affordable, or are they taking advantage of the poor?
Read the full investigation at The Washington Post.