Rent A Center or whatever it is called in your area...

Windindaface

Well-known member
You know these places. Rent to own. Twice the cost of product when done. $20 per month till you die and once you miss a payment or two we will lighten your moving load by showing up and moving our product out of your dwelling.

I had a chat with a Manager of a Rent to Own location on run today. The topic came up of who returned items on their own or who paid what was due to satisfy contract with this Free Money being handed out.

Reply was ... I have over 1100 at my location. So far only 3 have satisfied contract obligation with the Free Money and I am still taking in more business.
 

rhdriver

Well-known member
Yikes!

I can't help wondering if that's going to happen with all this Amazon buying! The bills will come eventually. Will the senseless buying at least decrease a little? I mean, how much more junk can people possibly stuff in their houses/apartments/trailers/and maybe soon to be cars?? Imagine getting yourself so deep in debt for Amazon junk that you lose your home!! Jeff Bezos is laughing all the way to the bank...which he probably owns too!!
 

MiddleOfNowhere

Well-known member
we have a used car lot that does there financing, in house. one of the clerks husbands works as a mechanic for them. they have about 20-30 cars for sale, and a big fenced in lot behind, with probably 150-200 cars in it. the large lot, is for the cars that they have repossessed. they go to car auctions and buy rebuilt lemons, get the purchase price, as a down payment, then charge high interest to the low credit score guys that can't get anything else.

the clerk told me, they have one pickup with transmission problems, that seems fine till driven a long distance, then starts slipping. people will take it for a test drive, think it's okay, then buy it, and make payments till it starts acting up. dealer takes it back for missed payments, then resells it. they have sold the same truck, 5 times.
 

Windindaface

Well-known member
@MON... There is one of those on my route. I have many postage dues weekly for ADDY Correct Service and return to them Unclaimed/ UTF Certified's. I read the fine print about their financing sign on lot pole. 24.9% interest.
 

drakeME

Well-known member
we have a used car lot that does there financing, in house. one of the clerks husbands works as a mechanic for them. they have about 20-30 cars for sale, and a big fenced in lot behind, with probably 150-200 cars in it. the large lot, is for the cars that they have repossessed. they go to car auctions and buy rebuilt lemons, get the purchase price, as a down payment, then charge high interest to the low credit score guys that can't get anything else.

the clerk told me, they have one pickup with transmission problems, that seems fine till driven a long distance, then starts slipping. people will take it for a test drive, think it's okay, then buy it, and make payments till it starts acting up. dealer takes it back for missed payments, then resells it. they have sold the same truck, 5 times.
Seems to me law enforcement could use an anonymous tip. Preying on working class people struggling with bad credit is pretty damn low.
 

MiddleOfNowhere

Well-known member
Seems to me law enforcement could use an anonymous tip. Preying on working class people struggling with bad credit is pretty damn low.
damm low, but probably not illegal. payday lenders are the same type of people. come to think of it, this guy, has one of those storefronts too.

it's the american way...
 

drakeME

Well-known member
I don't think it's legal to sell a lemon without disclosing that it's a lemon.

Super high interest rates for junk people don't need is also despicable, but not at the same level as defrauding.
 

muttleycrue

Well-known member
There was a Title Loan place in the next town over. Always 8 or 10 repo'ed cars in their lot. Mostly older, not worth much. In a small town there were always a lot more cars there than should be.

Could not imagine the thought process that goes into borrowing against a junker with terms that pretty much guarantee you can't or won't pay it back.
 

Surprise!

Well-known member
There was a Title Loan place in the next town over. Always 8 or 10 repo'ed cars in their lot. Mostly older, not worth much. In a small town there were always a lot more cars there than should be.

Could not imagine the thought process that goes into borrowing against a junker with terms that pretty much guarantee you can't or won't pay it back.
Is the thought process simmilar to having some one purchase a POV for their route then putting an LLV on it?
 
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