Rent To Own Insanity
Tuesday, July 28th, 2009I just got a sales brochure in the mail from a local rent-to-own store. It’s one of the big companies, but the name is not important since they all operate about the same way. They target the young and irresponsible and ignorant.
Let me give you a quick example. One item in the brochure is a Toshiba 26-inch LCD TV. I went online just now and found that you can buy one for $399, not to mention that you can buy cheaper brands in that size as well. So what does it cost you to own one by making payments? Just $18 per week, the advertising says. But look at the small print, which the law must require.
“Total of all payments: $1,637.08.” That’s right. You get to pay four times as much as a cash buyer. By the way (more…)
