I can make a payment but it’s not reliable.

It is understood that mobile phone leaseback loans refer to users “mortgaging” their mobile phones to the platform (not a mortgage in the legal sense). Through the signing of an electronic contract, the ownership and disposal rights of the mobile phone are temporarily transferred to the platform. The mobile phone does not need to be mailed to the platform. At this time, the platform will estimate the price of the mobile phone and pay the user the corresponding amount.

According to data, there are more than 100 "leaseback loan" related platforms, with millions of registered customers, and most of the target customers are college students. The interest rate is extremely high, generally the annualized interest rate is above 300, and in some cases even exceeds 1,000. According to analysts, this type of mobile phone leaseback model is actually a cash loan business under the guise of mobile phone leaseback, which not only hides compliance risks, but also makes it difficult to protect user privacy and security