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Rent-to-own reality: The Real Deal

The rent-to-own industry is booming right now, but don't think small payments now, will save you in the long run. Central New Yorkers are paying up to three times more than they would if they just bought the item off a store shelf.

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jeep creep - 12/8/2008 8:18 PM
lol rent a sucker

alex vescio - 12/8/2008 6:30 AM
i use to rent a center but not anymore it take you longer to pay it so i stop going to them and i use to paid $314.00 every two week and i did not pay it off until over 2 years now i found a place that you pay once a month and pay it off with in one year. now i only pay $140.00 a month instand of $314.00 every two week. i will never go to rent a center or rent to own

kpolaris - 12/7/2008 4:09 PM
How about this ? You buy a house for $ 100,000.00 dollars. By the time you pay it off in 20 to 30 years it has cost you $300,000.00 dollars. Now that is a ripoff way more than rent to own. Atleast rent to own customers get free service. And with these new lcd and plasmas its a great deal . If your panel goes and they do , the cost of replacing them is more than the cost of a tv.There are alot of people out there that has spent thousands for one of these tvs {which only have a warranty for 1 year } and the panels go.

smagen31 - 12/5/2008 12:45 PM
Rent to own places are ok if you can pay it off in 90 days...not everyone has the money that very day ya need something.

brucerstahl - 12/4/2008 4:06 PM
Perhaps more important than 'saving up' for something you want is 'thinking about it' before you buy. If you're so 'hot' for a computer, but aren't savvy enough to know it's true market value.... don't rush out and buy one on an impulse. You can use computers at the library: sometimes getting free milk is better than owning the cow. Plus you can gain knowledge from the folks there. Many things are like that. Consider your purchases, and you'll always be better off.

JusticeCtr1 - 12/3/2008 11:06 PM
There is a sucker born every minute- and they end up up buying a crappy car from Billy Fuccillo at 11% interest after paying 3 grand for a tv that costs $1200 at Best Buy.

whatcha - 12/3/2008 10:24 PM
The days of "saving" for everything you buy are long gone. In a perfect world, I'm sure we'd all love save $100K or so before we buy a house, or $25K before we buy the caravan, or the amount to buy our home furnishings..but as we all know, that is just not reality in today's world. I was skeptical of trying rental purchase at first..but have had a great experience with the store I do business with. I am not going into debt (can return item anytime with no penalty), I get free repairs, they have 90 day same as cash buy-out option, free delivery and set-up, option to pay weekly, bi-weekly or monthly, and I get treated very well by the store employees (much better than any retail store). I don't need to do the math because they have already done it for me. The prices are right on the price tag of the item..weekly and monthly payment amount, and total rental cost to own over the contract. These sames prices are also on the rental contract. These people don't hide anything. I have made the choice to rent the item after after considering my options. I understand that if I rent for the full term that I will pay more than if I bought it for cash, but at least I know it's done after usually 18 months, whereas if I put it on my credit card I may end up pay 5 times the cost and never really know when its done. The rent-to-own stores give another option to buying (or just renting for a short time) that I like. I have bought 5-6 items through rent-to-own (4 of them bought out with 90 days same as cash) and actually paid less for a living room set than if I bought it at a local furniture retail store.

pocketdukes44 - 12/3/2008 5:45 PM
this is what happens when people want stuff they cannot afford. Either get a second job to pay for what you want or go with out. Anyone who rents to owns deserves this. They are a dirt who hasn't paid anybody therefore the high interest. Live on dirts

justaguy - 12/3/2008 1:38 PM
There's a sucker born every minute. I don't have any sympathy for them.

facefurny - 12/3/2008 11:50 AM
Yes, you will pay a lot more over the rent-to-own period, but keep in mind that the rental stores have already borne the cost of the appliance or furniture, generally include service/warranty, and all the other related services. That cost includes idle, non-revenue time for their inventory as well. It's not a rip-off when you look at the cost of doing business for the rental people. It's always better to pay cash through savings, but many people simply don't have the option to wait 2-3 years to save that much. Stop and think how much you pay for a car over a 5 year loan period - easily 2-3 times the original cost unless you qulaify for the very low or zero interest loans, which come with their own caveats. Can you live without a laundry set? Probably, but the cost of the laundromat each week, in coins and gas, will take away from saving potential, and demands time away from home. Things like large screen TV's, however, are NOT necessities, and probably can wait. further, it's probably a bit less expensive to rent only, wihtout a buy option.

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