GT5 delayed

  • Thread starter Kingdizzi
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akiraacecombat
I had this idea back in January,simply save money until GT5 releases,thus far I manage to buy a 250GB PS3 and pre-order a standard edition of GT5,I found it today and I decided to save more money until GT5 releases to see how much can I manage to save(maybe for a wheel)is sort of depressing to get back to this but anyway,my only hope is that not becoming a millionaire until GT5 releases.
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You'll be able to buy a house by the time it releases.
 
Devedander
Right so they delay the game for almost a month (and counting) so they can run a large roughly 30 day advertising campain that they have yet to start even and puts the release after black Friday and we are already at the previous launch day...

A dash more logic in the thinking there might help ;)



I have never understood why anyone would put down 100% of the purchase value up front... it makes no sense to me and is like giving the store a 0% interest loan with some potential risks (like the system looses track of your preorder, you loose your receipt, who knows who knows what goes wrong, the store goes out of business...)

I have heard the reasoning like "this way I don't have to worry about if I have the money on launch day, I just walk in and pick it up.) which is some of the strangest logic I have ever heard.

If you prepaid the full amount you already HAVE the money... the only reason you WOULDN'T have the money on launch day is if you spent it on something else. The logic would be that you WOULDN'T spend it on something else unless it was more important than GT5.

Now I don't know about you, but if something more important comes up... don't you want your money where you can get it to pay that off instead of tied up in a GT5 pre order?

So there are only 2 possibilities:

1: Something more important DOES come up before GT5 launches, you need to spend the money on that, hopefully you can get it back from your pre order and then it's spent and guess what, no money for GT5 but it didn't matter that you put the preorder anyway did it?

2: Nothing more important happens, your money sits in someone elses pocket until GT5 launches, you get your game and are not ahead in any way at all and you have missed out on the opportunity cost of money the whole time.

BTW if you aren't aware the opportunity cost of money is the inherent value that having money has. It means that should beneficial opportunities arise, you have the ability to take advantage of them. A possible example might be a bank offers a 10% CD for 6 months. Had you put your money into the CD you would have earned some profit off it and still had it at the end.

BTW the % paid on CD's is directly related to the fact they are paying you to give up the opportunity cost of money :)
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I respect your opinion but I went ahead and paid in full when I pre-ordered it. Why? Because I can. I am spending it on the game anyway. That money was for GT5 so if I give it to them now or later that same money is going for that game. Gamestop already requires at least $5 down on a pre-order so why not just go ahead and pay it off if you have the money to do so?
 
sw_sephiroth
so why not just go ahead and pay it off if you have the money to do so?
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Because you are paying for a service you wont receive yet. A loan without interest. Why do you think these stores push for pre-orders so hard and add incentives like bonus in-game content? Because it's highly lucrative for them. They're not putting your money inside a cute little safe, they are investing it.

But whatever. Your line of thought is exactly what they like the most and feed off of. Maybe a little bit of laziness there too since others also argue that swiping a credit card at launch is too exhausting.
 
PickleAhoy
Because you are paying for a service you wont receive yet. A loan without interest. Why do you think these stores push for pre-orders so hard and add incentives like bonus in-game content? Because it's highly lucrative for them. They're not putting your money inside a cute little safe, they are investing it.

But whatever. Your line of thought is exactly what they like the most and feed off of. Maybe a little bit of laziness there too since others also argue that swiping a credit card at launch is too exhausting.
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$100 now or $100 then. It's the same.
 
sw_sephiroth
I respect your opinion but I went ahead and paid in full when I pre-ordered it. Why? Because I can. I am spending it on the game anyway. That money was for GT5 so if I give it to them now or later that same money is going for that game. Gamestop already requires at least $5 down on a pre-order so why not just go ahead and pay it off if you have the money to do so?
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sw_sephiroth
$100 now or $100 then. It's the same.
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But you see, it's not the same... either way they get $100 but one way you give it up sooner for no benefit and actually probably take a loss.

When given the choice to part with your money sooner or later, why choose sooner if there is no benefit? You seem to be of the logic that all else equal it's better to part with it sooner when the opposite is true for all the reasons I listed and more.

I am of course assuming you got nothing for it like a discount... if paying now gets you $10 off or something, then that's different. But if paying now just means you pay the full amount now, there is no reason too.

At the very least, the time the money sits in your bank account it's acruing interest. Sure the amount will likely be small (but then again, depending on how long ago you pre paid, maybe it's bigger than one would expect) but it's something that you are forfeiting again for no reason at all.

See here: http://en.wikipedia.org/wiki/Time_value_of_money for the most basic reason.

For example, 100 dollars of today's money invested for one year and earning 5 percent interest will be worth 105 dollars after one year. Therefore, 100 dollars paid now or 105 dollars paid exactly one year from now both have the same value
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So it's not really $100 now or $100 later. $100 now costs you $5 vs paying the $100 later in the above example. Basically you are paying a penalty just to pre pay.

Again, when looking at any situation, all else being equal, it's always in your favor to keep your money in your pocket as long as possible, not pay it out as quickly as possible. This is why businesses always file extensions on their taxes... they will pay it one way or another, but if they can keep the money longer for free, it's in their interest to do so.

It's also why witholding extra so you get a bigger refund at the end of the year is bad. Lots of people LOVE getting a huge check during refunds. It feels like getting a lot of money. But really that money is money you could have had sooner (by not having it deducted) and money you have given as an interest free loan to the government this whole time. I always shoot to OWE as much as I can without penalty. The money I OWE is an interest free loan to ME from the government that is earning interest in my bank account.

It's economics 101. The sooner you learn to see the real logic in money handling (vs feelgood strategies like pre paying anything whether it be video games, taxes or anything else), the more benefit you will reap in the long run :)
 
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Been reading the forums for a long time now..
Just wanted to share this e-mail (banner) sent to me by Sony HongKong.. (I created a psn network account of HK region back in 2006 , dont know why.)
I know it wont be out in the date mentioned in this banner (11-04-10) , but strange thing is this was just sent to me a couple of hours ago...
gt5onlinereserveedm01.jpg
 
sw_sephiroth
$100 now or $100 then. It's the same.
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If that money was in any kind of interest bearing account you would earn a bit on it in that time frame albeit less than $0.25 it is something. The game stores make out because they get to multiply that by a fairly large number.

To most people it really is no concern though as that money would either be in the form of cash or from a non interest bearing checking account.
 
Yeah but we aren't talking $100,000 or even $10,000. It's just $100 that was put down two months before the "release date".


I understand what you're talking about though. I do.

Also even though it is delayed there's no way I am getting a refund because I want to be sure I get a copy of the Collector's Edition.
 
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akiraacecombat
I had this idea back in January,simply save money until GT5 releases,thus far I manage to buy a 250GB PS3 and pre-order a standard edition of GT5,I found it today and I decided to save more money until GT5 releases to see how much can I manage to save(maybe for a wheel)is sort of depressing to get back to this but anyway,my only hope is that not becoming a millionaire until GT5 releases.

PS: sorry for the quality of the camera,and the quality of the logo(Kaz approved).
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nice job with the logo:)
 
tonediary
Been reading the forums for a long time now..
Just wanted to share this e-mail (banner) sent to me by Sony HongKong.. (I created a psn network account of HK region back in 2006 , dont know why.)
I know it wont be out in the date mentioned in this banner (11-04-10) , but strange thing is this was just sent to me a couple of hours ago...
Click to expand...


I don't really read Chinese but I think it means they're taking orders for reserved copies from November 4th.
 
sw_sephiroth
Yeah but we aren't talking $100,000 or even $10,000. It's just $100 that was put down two months before the "release date".


I understand what you're talking about though. I do.

Also even though it is delayed there's no way I am getting a refund because I want to be sure I get a copy of the Collector's Edition.
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Yes in the bank account scenario the numbers are low, however it still comes down to there being a penalty ultimately for pre paying and no benefit. So you are choosing to short change yourself with the rationalization that you are only shortchanging yourself a little :)

BTW while $100 doesn't sound like much, it depends on what opportunities you have. I used to do gambling sites which paid you 100% sign up bonuses, so if you bought $100 and played x number of hands of blackjack, you could cash out whatever you had left. I would routeinly buy in $100, then cash out around $200 an hour or two later (with blackjack you can come pretty close to breaking even over the long term). If you are missing opportunities like that, the value you are missing is significantly higher.

But I digress...
 
If it were the end if the world I wouldn't be here. It's not and I am, so frustration over Sony's mishandling of this game continues...
 
To the "economist"; when you have to pay for the DLC cars, die-cast cars, key chain, and 300 page book because you did not preorder, how much have you saved by keeping your money in your pocket?

See, now you'll toss out the "I don't want those things" BS. News Flash: WE DO.
 

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