Anonymous
Anonymous asked in Business & FinanceCredit · 7 months ago

Why do people go to Rent to Own to buy stuff?

I saw an ad and it says "55 inch LCD TV for only $79/month for 2 years." That's $1896. I bought my 55" LCD TV for $200 during Black Friday!

11 Answers

Relevance
  • Linda
    Lv 6
    7 months ago

    Because they are trying to build their Credit Score.

  • zipper
    Lv 6
    7 months ago

    Because they can not afford to pay all upfront so this way they can get what they want on a time payment plan. That what it is: a time payment plan!

  • Anonymous
    7 months ago

    It's their choice.

    ps: Pearl L, please take a Math class. 1896 is NOT less than 200.

  • 7 months ago

    They want it now, they don't want to save up.

  • What do you think of the answers? You can sign in to give your opinion on the answer.
  • nt
    Lv 6
    7 months ago

    The $79 a month TV is better than yours but people have the stupid idea that they are building credit.

    And people can't get a 55 inch tv now for $200 or $300 but they might have $79.

  • 7 months ago

    People that rent to own know this. But what they are doing is they are purchasing a credit reference most rent to own places promise to report your good payments to the credit bureau. And that's one way to get started when you have no credit. It's a lot cheaper just simply open yourself a secured Visa card not prepaid secured that's where you open a bank account and put $500 in it and I'll give you a credit card with a $500 limit on it and if you default they'll take your savings account. In about a year companies will start making offers to you for low limit credit cards which you accept. By the second year you should be getting offers for higher limit cards.

  • 7 months ago

    AND? Do you believe these rent-to-own places are cheap? These are people whose customers pay their bills with payday loans.

  • 7 months ago

    it rnight be cheaper to do it that way

    • SCATTY c
      Lv 5
      7 months agoReport

      Pearl, if you seriously believe that, then you need a wake up call !

  • 7 months ago

    Economists sometimes call this a "poverty tax".

    Poor people can not afford to buy in bulk or pay for somethings at one time so they end up paying much more over the long run.

  • Anonymous
    7 months ago

    Because they have $79, not $200, and they want it now, not on black Friday.

    ????

Still have questions? Get answers by asking now.