MSE News: Vulnerable consumers pay triple high street prices for Rent-to-Own goods

grumbler

What are essential items for "basic domestic needs"?

The kinds of items that are essential for "basic domestic needs" include, but aren't limited to, all of the following:

• a cooker or microwave
• a refrigerator
• a washing machine
• a dining table to seat you and everyone else who lives in your home
• beds and bedding for you and everyone else who lives in your home
• clothing for you and everyone in your home
• a landline telephone, or a mobile, or an internet phone if there is no landline at your home
• any equipment that you need for medical purposes, safety or security
• equipment that provides lighting and heating facilities
• anything that is needed to care for a child under 18
• anything that is needed to care for a disabled person or older person.

The following items would probably not be considered essential for "basic domestic needs":

• a television, DVD player or blu-ray player
• a stereo or music player
• a computer that isn't used for work or study
• designer clothing, if you have enough other clothing available
• non-essential kitchen equipment such as a mixer or food processor.

http://www.adviceguide.org.uk/wales/debt_w/debt_action_your_creditor_can_take_e/bailiffs_e/your_belongings_and_bailiffs_e/what_goods_can_a_bailiff_take_e/belongings_a_bailiff_can_take_e.htm

cavework

Gumtree.. Ebay .. friends of friends...
Shiny and new does not equate to value for money.

[Deleted User]

dandelionclock30 wrote: »

A washing machine is an essential not a luxury item.

Indeed, mine is supplied with my rent...
until it breaks then I'll get to replace, rest assured my rent doesn't come down

Well as to this outdated thread now when we have pretty much done away with these places, care to really journo the companies and organisations causing real pain, the one's that will now slowly and all the moreso be revealed...with any luck

brand68

Thats it then, thumbs down to the Vulnerables by the MSE forum by 20-1

Owain_Moneysaver

grumbler wrote: »

Wait... Is it just me?
I've never been inside a shop, but what I see through BrightHouse's windows seems to be the most expensive top-of-the-range new stuff.

I can't find a Samsung fridge-freezer, but the Hotpoint FFU3DW fridge/freezer:

Brighthouse

Product with 5 star service £853.43
Weekly payment £10.50
Number of weeks 156 (3 years)
Representative APR 64.7 %
Total payable £1,638.00

BHS £674.00 (cheapest on pricespy)

Tesco Direct £883 including delivery

Amazon £715 including delivery (most expensive on pricespy)

brand68

oops correction 35-1

Herzlos

jaydeeuk1 wrote: »

I hate the way 'vulnerable' is banded about.

Surely brighthouse et al are the vulnerable ones as there's a good chance the type of clientèle they attract won't bother paying, hence the higher costs. I don't see the problem making money from the stupid, greedy and entitled types.

Sure the default rate is pretty high; because they are selling finance to people who can't afford it, it's obvious most will default at some point.

With the mark-ups they are making they presumably only lose money if people default within the first 1/4tr of the repayments, and they must be able to recover most of the goods?

If you advertise things with weekly costs and no credit checks, you're not going to be getting prime customers.

Nasqueron

dandelionclock30 wrote: »

No Laundrette nearby!!!! what century do you live in? They don't really exist anymore in a lot of places. Why don't you go a little bit further and suggest that people wash their clothes in the river if theres one nearby that is.


A washing machine is an essential not a luxury item.

I live in the suburbs of Birmingham, we have a laundrette and separate dry cleaner within 5 minutes walk. When I was at university we had a washing machine as part of the house but also had a laundrette at the end of the road. I did say I can see why a washing machine is not a luxury but equally you can get one on ebay or gumtree or freecycle for not very much.

Our house had the old owner's white goods (cooker/fridge-freezer) and we only replaced them a couple of years back when they broke - we have a tumble dryer from my mum which is older than me I think!

For what it's worth, this was also mentioned in the 'i' newspaper, they pointed out you can get a 42" TV from Argos for less than 2/3 of the Brighthouse one even before interest!

[Deleted User]

we bought our current washer from a guy who refurbishes them 7 years ago for £70 with a 12 month warranty,i make that 20p a week

ReadingTim

I don't have a problem with higher prices being charged, given they reflect the higher risk posed by the customers of BrightHouse et al, but I do feel this is somewhat sensationalist journalism which has misses a target which more people may agree on - the outrageous costs of the mandatory insurance, service plans etc which really add to the cost of the item - extended warantees in all but name (and look where that ended) - this is where the customer is being gouged, and should be cracked down upon.

However, I also see far people crowding round the massive tellies, shiny consoles and tablets than I see fawning over the range of cookers in the BrightHouse near me, so my sympathy is somewhat limited for someone who's unable to differentiate between wants and needs and then suffers poverty because of it...