Anyone ever watch Till Debt do us Part?

[orangebird2020]

I love the show and I am always shocked at the amount of credit that these people were given in the first place. It always seems like one person attempts to be in charge of the finances while the other hides and acts shocked.


I wish I could watch her other show Princess, but I don't think it airs in the US.

[LuckyRobin]

Originally Posted by disneysteve

As for defending RAC or payday lenders, those places are indefensible. They prey on the folks who can least afford them. It is the epitome of predatory lending. Notice that those places are never located in nice neighborhoods. They are all in poor neighborhoods. What does that tell you?

Actually, we've got both payday lenders and RAC's in some nice neighborhoods in my city. Neighborhoods with $300,000 to $450,000 homes and upscale apartments. Probably because that's all they can afford after paying such high mortgages and rents, but still, they aren't just in poor neighborhoods anymore.

I think one of the problems with Craig's List is that if you don't have the ability to go and get it, if you don't have a truck or can't borrow one and can't afford to rent one, it would be quite easy to think about getting it from a rental place that delivers it for free. Especially when even most of the big stores don't deliver without a fee tacked on anymore and few of the Mom and Pops ever did. Of course it's part of the trap. But when you're living your life stuck in that trap you can't always see past it, unfortunately.

[disneysteve]

Originally Posted by LuckyRobin

if you don't have a truck or can't borrow one and can't afford to rent one, it would be quite easy to think about getting it from a rental place that delivers it for free.

That's faulty logic, though. Look in the local paper or even on craigslist and I'll bet you can find someone who will haul stuff inexpensively. Which is better - paying somebody $50 to pick up and deliver a fridge you get for free on craigslist or paying RAC $30/month to rent a fridge?

[LuckyRobin]

Yes, it's faulty logic, but sometimes people can't think outside of the fix they're in. Especially if they've been brought up in the get it now, pay for it later lifestyle. If you don't have that $50 to pay someone to deliver the fridge and yours is completely burnt out, if you can only scrape up the $30 each month, are you going to go without the fridge? Some other appliance yes, but a fridge? I've never seen a free fridge on Craig's List. I've never seen one for less than $100. If it were truly free and you could use your $30 to pay for someone to deliver it, that would be another story. Even then, the cheapest delivery vehicles for rent here are $35 an hour plus gas. If you don't know anyone with a truck, that's what you are stuck with.

I'm by no means advocating using RAC. I'm just saying I can understand being in the fix that leads to that mindset.

[cicy33]

Originally Posted by LuckyRobin

Yes, it's faulty logic, but sometimes people can't think outside of the fix they're in. Especially if they've been brought up in the get it now, pay for it later lifestyle. If you don't have that $50 to pay someone to deliver the fridge and yours is completely burnt out, if you can only scrape up the $30 each month, are you going to go without the fridge? Some other appliance yes, but a fridge? I've never seen a free fridge on Craig's List. I've never seen one for less than $100. If it were truly free and you could use your $30 to pay for someone to deliver it, that would be another story. Even then, the cheapest delivery vehicles for rent here are $35 an hour plus gas. If you don't know anyone with a truck, that's what you are stuck with.

I'm by no means advocating using RAC. I'm just saying I can understand being in the fix that leads to that mindset.

This was exactly my point. I am not personally advocating rent to own places or otherwise. however, they DO have their place in our world. For one, as said above, your fridge dies. that is a necessity. I do believe the original idea of these places was to provide a rental of an item at an affordable rate for a brief period of time. perhaps it has evolved into something entirely different but I do believe that was the original idea. like if you really want to have a great superbowl party with a big screen but don't want to pay the serious amounts of money to buy one you can rent one for a much lower cost for a needed short time.

and I do want to point out again, especially to you Disney, craigslist vary widely from area to area. If I were to put an ad on craigslist here I needed someone to haul something for me I would get some really weird to downright disgusting replies. It just doesn't always work the way we want it to. For some people saving is hard and murphys law seems to kick in just when you don't want it too. Now, I am lucky, for one I used a fridge my dtr had until I could afford another. I got free delivery with my new fridge when I bought it from best buy and I have someone with a truck and a trailer if I should need it. others are not so lucky.

Also want to point out that before people start turning up their noses completely at these places, they have great scratch and dent sales. as said I have bought furniture there. and I have done it on more than just one piece. I got a great little tv center cabinet (we used to use it as a dresser for a while) for only $40. One of these days stop in one and see if they have anything. Not any different than buying used on craigslist or at a yardsale.

[bjl584]

Originally Posted by cicy33

This was exactly my point. I am not personally advocating rent to own places or otherwise. however, they DO have their place in our world. For one, as said above, your fridge dies. that is a necessity. I do believe the original idea of these places was to provide a rental of an item at an affordable rate for a brief period of time. perhaps it has evolved into something entirely different but I do believe that was the original idea. like if you really want to have a great superbowl party with a big screen but don't want to pay the serious amounts of money to buy one you can rent one for a much lower cost for a needed short time.

and I do want to point out again, especially to you Disney, craigslist vary widely from area to area. If I were to put an ad on craigslist here I needed someone to haul something for me I would get some really weird to downright disgusting replies. It just doesn't always work the way we want it to. For some people saving is hard and murphys law seems to kick in just when you don't want it too. Now, I am lucky, for one I used a fridge my dtr had until I could afford another. I got free delivery with my new fridge when I bought it from best buy and I have someone with a truck and a trailer if I should need it. others are not so lucky.

Also want to point out that before people start turning up their noses completely at these places, they have great scratch and dent sales. as said I have bought furniture there. and I have done it on more than just one piece. I got a great little tv center cabinet (we used to use it as a dresser for a while) for only $40. One of these days stop in one and see if they have anything. Not any different than buying used on craigslist or at a yardsale.

I have heard of real estate investors using places like RAC to stage a home that they are trying to flip. Often the houses that they buy need renovated, and when they are finished and are ready to put them on the market, they want them to have a more "lived in" feel. Realtors will often tell people that when people view a house, it feels more like a home if the place is already furnished. The potential buyer doesn't have to imagine how the place would look with furniture. That could be the difference between making an offer and passing on that particular house. I've also heard of people that have already moved and are trying to sell a vacant home doing this same thing. They will rent some furniture and stage their old home for an open house. So, these rental stores do serve a purpose if used wisely.

[disneysteve]

Originally Posted by cicy33

I am not personally advocating rent to own places or otherwise. however, they DO have their place in our world. For one, as said above, your fridge dies. that is a necessity. I do believe the original idea of these places was to provide a rental of an item at an affordable rate for a brief period of time. perhaps it has evolved into something entirely different but I do believe that was the original idea. like if you really want to have a great superbowl party with a big screen but don't want to pay the serious amounts of money to buy one you can rent one for a much lower cost for a needed short time.

I'm quite sure these places don't stay in business renting big screen TVs for Superbowl parties or emergency fridge rentals, though those are reasonable uses for such a place.

Does anyone know what the rental terms are for these places? Can you rent a big screen TV for a weekend? Can you have a fridge delivered on short notice and just keep it for a few weeks?

Also want to point out that before people start turning up their noses completely at these places, they have great scratch and dent sales.

No argument on this point. Buying previously rented stuff can be a great way to get a bargain. It is not unlike buying a quality used car. Let someone else blow their money on the new item and swoop in later and get it after it has depreciated. Of course, that means you are profiting from the poor judgment of others, but I don't personally have a problem with that.

[cicy33]

Originally Posted by disneysteve

I'm quite sure these places don't stay in business renting big screen TVs for Superbowl parties or emergency fridge rentals, though those are reasonable uses for such a place.

Does anyone know what the rental terms are for these places? Can you rent a big screen TV for a weekend? Can you have a fridge delivered on short notice and just keep it for a few weeks?



No argument on this point. Buying previously rented stuff can be a great way to get a bargain. It is not unlike buying a quality used car. Let someone else blow their money on the new item and swoop in later and get it after it has depreciated. Of course, that means you are profiting from the poor judgment of others, but I don't personally have a problem with that.

I don't know the current terms but for a while a couple years ago, SO HAD to have a big tv, so we got one for a bit and I think it was about $40 a week or so. I was able to finally talk him out of it. But even if it was higher for one weekend then it would be worth the other option of spending $1000 plus on a really big tv. Yes, by the way you can rent one for a week and return it. I think the only thing you can't rent and return on a weekly basis is a bed. (we tried to rent one once for a week when we had company coming and we hadn't bought a bed yet for the guest room) They wouldn't let us. Said that it had to be a true rent to own on those. I can see why. True, this is not how the company makes money but then again, credit card companies don't make money on people like you who pay the bill in full each month and yet that is exactly what you are doing. You are using "credit" to pay for your purchases, the only difference is that you are paying for it before the time frame is up where interest would kick in. The RTO places offer that as well. Like most I think offer 90 days same as cash? so no real difference if you think about it. And just to state so that someone doesn't make a remark about me working for these people. Nope I don't, I actually work in a law firm. But I am a normal person who has done normal things. I have made my share of mistakes and figure the majority of people had or they wouldn't be working so hard to correct them. That is why sometimes these places do serve a purpose.

[disneysteve]

Originally Posted by cicy33

True, this is not how the company makes money but then again, credit card companies don't make money on people like you who pay the bill in full each month and yet that is exactly what you are doing. You are using "credit" to pay for your purchases, the only difference is that you are paying for it before the time frame is up where interest would kick in. The RTO places offer that as well. Like most I think offer 90 days same as cash? so no real difference if you think about it.

I'm curious about the "90 days same as cash" deal. What exactly does that mean? What happens after 90 days? Are you buying the item? If so, are the prices comparable to what you would pay at a major retailer like Best Buy or hhGregg or somewhere similar?

Perhaps I'm mistaken but it has always been my impression that the rent to own places charge phenomenally more than actually going out and buying the item the normal way. For example, if that big screen TV rents for $40/week, after a year, you might own it but would have spent over $2,000 for a TV that retails for $1,000.

[cicy33]

Originally Posted by disneysteve

I'm curious about the "90 days same as cash" deal. What exactly does that mean? What happens after 90 days? Are you buying the item? If so, are the prices comparable to what you would pay at a major retailer like Best Buy or hhGregg or somewhere similar?

Perhaps I'm mistaken but it has always been my impression that the rent to own places charge phenomenally more than actually going out and buying the item the normal way. For example, if that big screen TV rents for $40/week, after a year, you might own it but would have spent over $2,000 for a TV that retails for $1,000.

Please keep in mind that it has been a really long time since I have rented from these companies. I believe the way it works is this:
rent a tv for 25 per week. if it is an option to do 90 days same as cash then after you have paid it off for a month or so you put that amount you have paid toward the asking price of the tv. here is one catch. their appliances, tv's, furniture, etc is going to be higher priced than walmart. but it would be cheaper than paying out the term of the rental to own.

[disneysteve]

Originally Posted by cicy33

Please keep in mind that it has been a really long time since I have rented from these companies. I believe the way it works is this:
rent a tv for 25 per week. if it is an option to do 90 days same as cash then after you have paid it off for a month or so you put that amount you have paid toward the asking price of the tv. here is one catch. their appliances, tv's, furniture, etc is going to be higher priced than walmart. but it would be cheaper than paying out the term of the rental to own.

Interesting. So it is a way to buy the item at a somewhat inflated price (I've checked their website and they don't list prices unfortunately) but for the first 90 days, make weekly payments toward the purchase price. I see where some folks might be deceived into thinking that was a good way to go.

Personally, I can see someone considering that with an "emergency" purchase like a refrigerator but not for almost anything else they sell. If you don't have the money for a TV, then you save up until you do. If you don't have the money for a sofa or computer or washing machine, then you save up until you do. And then you shop around and find the best possible deal which might mean buying used from a flea market or thrift shop or ebay or craigslist. Buying through RAC isn't a smart way to do things and it won't help people who are struggling to get ahead. Dave Ramsey is fond of saying that the rich get richer and the poor get poorer because the rich keep doing the types of things that made them rich and the poor keep doing the types of things that make them poor. This is a perfect example of that. People get into these endless cycles of debt and dependency and instant gratification and it prevents them from gaining ground and advancing.

[cicy33]

Originally Posted by disneysteve

Interesting. So it is a way to buy the item at a somewhat inflated price (I've checked their website and they don't list prices unfortunately) but for the first 90 days, make weekly payments toward the purchase price. I see where some folks might be deceived into thinking that was a good way to go.

Personally, I can see someone considering that with an "emergency" purchase like a refrigerator but not for almost anything else they sell. If you don't have the money for a TV, then you save up until you do. If you don't have the money for a sofa or computer or washing machine, then you save up until you do. And then you shop around and find the best possible deal which might mean buying used from a flea market or thrift shop or ebay or craigslist. Buying through RAC isn't a smart way to do things and it won't help people who are struggling to get ahead. Dave Ramsey is fond of saying that the rich get richer and the poor get poorer because the rich keep doing the types of things that made them rich and the poor keep doing the types of things that make them poor. This is a perfect example of that. People get into these endless cycles of debt and dependency and instant gratification and it prevents them from gaining ground and advancing.

Ahh, but see now you have found the issue. Nobody wants to save for it anymore.