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MSE News: Vulnerable consumers pay triple high street prices for Rent-to-Own goods
Former_MSE_Paloma
Posts: 531 Forumite
in Loans
Cash-strapped customers who buy TVs and washing machines through rent-to-own (RTO) schemes are paying three times more ...
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Vulnerable consumers pay triple high street prices for Rent-to-Own goods
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Vulnerable consumers pay triple high street prices for Rent-to-Own goods
Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.
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If you were cash strapped, why buy a TV which also needs TV licence?
Washing machine I can sort of understand if there is no laundrette nearby (likely to be cheaper than paying 3x cost) but if you have no cash spare surely luxury items are not a priority?Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Can't afford it, don't buy it.
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More "news" ...0
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sinizterguy wrote: »More "news" ...
As we get it...I refer to my byline below ...
Ad hominem
An attack upon an opponent in order to discredit their arguement or opinion. Ad hominems are used by immature and/or unintelligent people because they are unable to counter their opponent using logic and intelligence.0 -
As long as the cost is clear it doesn't matter if they are 2, 3 or 10 times more expensive than some other retailers, no one is being forced to buy. It hardly needs a report to establish it's an expensive way to obtain goods.0
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Probably still cheaper than putting it on a sub-prime credit card and paying the minimum payment for a few years.0
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Gumtree etc has loads of cheap perfectly working TVs and dryers/washers that people have upgraded and selling on.
Its a case of fooling people with "£ xx per week" making it look cheap.0 -
I bought a chest freezer for £30, listed in ebay. It had a few scratches from having to squeeze a pushchair past it. But for my needs it was a bargain.
That was about 8 years ago.
Less than one payment on their Samsung freezer they mentioned. Who does someone with no money need a £644 freezer?
I see they dont bother to mention the 40"+ TV's which i presume they sell a lot of.Censorship Reigns Supreme in Troll City...0 -
The shops offering these deals have to put prices this high, as the level of default is much higher than lending money to credit worthy people.
Only fools would take such a deal, but there are a lot of fools in the UK these days!0 -
maybe a compulsory maths course before making any purchase?Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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