Community Forums => General Chat => Topic started by: nintendofan on March 10, 2003, 01:00:47 PM
Title: rent a center???
Post by: nintendofan on March 10, 2003, 01:00:47 PM
i just saw an advertisment for rent-a-center and i was wondering how it works. does anyone know? thanks.
Title: rent a center???
Post by: RickPowers on March 10, 2003, 02:19:13 PM
How does it work? Simple, really. It's rent to own, you pay a certain amount every month, and after whatever set time frame you choose, it's yours. Miss a payment, and they repossess, and you lose all the money you've been paying.
The catch is that you usually end up paying more than DOUBLE what the product is worth. It's just terrible from financial point of view. I really couldn't recommend that anyone use any rent-to-own company. If you can't afford to pay cash, a better option is a credit card.
Title: rent a center???
Post by: nitsu niflheim on March 10, 2003, 02:53:28 PM
Credit cards are nice, but if you can't pay with cash then you should probably stay away from credit cards because you'll probably spend the next ten years paying 90% interest and fees and 10% the cost of the item.
Title: rent a center???
Post by: BrianSLA on March 10, 2003, 06:45:11 PM
Yup STAY AWAY FROM rent to own places. They are basically scams. There have been numerous TV news reports and investigations on them and how you end up getting massively robbed by them. I don't know what the terms and conditions are BUT you can probably get the worst most high interest credit card and still be better off using that super high interest credit card than to use a rent to own place. Basically rent to own places are for people with extremely low incomes / don't know any better / can't get a credit card and the rent to own places take advantage of them. The stories I've seen show that they repossess INSTANTLY and that their terms and conditions / contracts make them so bad that they usually repo most of their inventory AND the people who didn't get repoed but who paid their bills on time ended up paying ASTRONOMICAL prices for items. A major rip off.
