Last week, rumors broke about that Microsoft was preparing to launch a new, pseudo-subscription service that would allow gamers to pick up a new Xbox console without paying for it all up front. Now, Microsoft has formally confirmed the rumors as true, announcing the 24-month Xbox All Access subsctiption plan. There's fine print and whatnot, but from an overall perspective, not only will this allow people who don't have hundreds of dollars to spend all at once on a new video game console, but it will allow them to save money in the long run. Venture Beat posted a breakdown of the plans, which are serviced by a Dell Preferred Account. It's technically opening a line of credit, despite the lack of an APR fee for 24 months. Here's the breakdown:
- Xbox One X plan at $35 per month is $840 total over 24 months. A new Xbox One X with two 12-month Xbox Live subscriptions and Games With Gold is $860. If you were to pay for Gold monthly, the total is $980.
- Xbox One S plan at $22 per month is $528 total. A new Xbox One S with two 12-month Xbox Live subscriptions and Games With Gold is $640. If you were to pay for Gold monthly, the total is $760.
Assuming subscribers are able to pay the monthly payment on time, this should even have a positive impact on their credit report. Part of the fine print however, is that this appears to be a limited time offer, and that it's only for "qualified" customers. There may be some sort of credit check or income verification process required before you can sign up. The offer is only available in Microsoft Store locations, so that may be a problem if you don't live near one.
Of course, if you don't want to keep up the monthly payment, you can also finish off the plan with a lump sum.