Rent a center should be illegal

[DEAD7]

REEEEEEEEEEEEEEEE Socialism.

Or, a rent to own service that charges flat-rate subprime loans should be subject to the same regulations that every other business that does this is. If they can't stay in business doing that, maybe they shouldn't have a business.

But no, clearly "this business model is exploitative" means "I want a free Xbox" cause those are clearly analogous and not at all just a bunch of the usual suspects reeeeee'ing at the thought that maybe if an industry relies on praying on people who don't know better to stay aflot that it shouldn't exist in the first place.

So maybe the federal government shouldn’t exist in the first place...
Keep that same energy...


Taking options off the table never helps...
in this case the demand for low price point will incentivize black market actors to provide... See drugs, alcohol, etc for example.

If the demand is there, market transactions will occur, with it without your approval.

 

[winb83]

Also framing it as “exploited for being poor” is a little dishonest, they are falling victim to their own impulses and ignorance the same way everyone does up and down the economic ladder...
Being poor just puts this idiocy(the every Econ level suffers from) in plain view.

Then why doesn't society let financial institutions engage in the same sort of fukkery? Why do the middle class and above have laws in place designed to keep companies from financially exploiting them but the poor really don't.

Poor people have it so hard because when one falls to poverty most of the options around them are designed to exploit them with the excuse that "hey they're poor so we can't trust them well enough to charge them something with in reason."

These business models are setting people up to fail. shyt like payday loans, buy here pay here car lots, rent to own. All this stuff is in the same lane.[/QUOTE]

 

[Pressure]

Protecting people from their own greed/impulses isn’t a road you wanna head down.

:Wheretheydothatat:
shyt posting.

 

[the cac mamba]

why doesn't society let financial institutions engage in the same sort of fukkery?

 

[Ethnic Vagina Finder]

Then they don't need to offer a rent to own service with a set out payment plan.

If they do then they need to be subject to the same regulations as other credit lendors

REEEEEEEEEEEEEEEE Socialism.

Or, a rent to own service that charges flat-rate subprime loans should be subject to the same regulations that every other business that does this is. If they can't stay in business doing that, maybe they shouldn't have a business.

But no, clearly "this business model is exploitative" means "I want a free Xbox" cause those are clearly analogous and not at all just a bunch of the usual suspects reeeeee'ing at the thought that maybe if an industry relies on praying on people who don't know better to stay aflot that it shouldn't exist in the first place.

They provide options for people with bad credit.

Regular furniture stores do the same thing with their subprime lenders.

I used one a few years ago when I bought my bed. It was $1400.00. No money down and it was going to be 1 year financing and interest if I paid it off in 90 days. If I wouldve made the monthly payments, that $1400.00 would've been $2700.00.

But the catch was that it if you missed one payment within that 90 days, the no interest finance was voided even if I paid the $1400. That's something in the fine print that nobody paid attention to. Most people assume if they are a day late but paid the $1400 within 2 months they're good.

Nope.


Rent a center is a last option for some or a lazy option for others. Like I said before, it's one or many options and they've been in business for decades so they're not going nowhere.

 

[Perfectson]

Nah. You just think people should be exploited for gain and that the government should neglect its primary role in protecting its citizens.

The government role isn't to protect people from doing absurd and stupid shyt . They do but it's not their role, aside from the RAC being a reputable business, they tell you upfront and in all paperwork how much you would owe.

You want the government to cut your meat too? People want training wheels their entire life but then turn around and get upset if the government spies on them lol

 

[winb83]

Financial institutions have capped interest rates they can legally charge. If its justifiable Rent-A-Center can skate around that on some bs then why aren't you arguing that banks should be able to charge their customers 400% interest and higher as well?

I mean if people sign up for it that's their problem right?

That's this whole libertarian style right let people police themselves and if people are willing that's their fault even if they don't understand what's happening to them clearly.

 

[Pressure]

The government role isn't to protect people from doing absurd and stupid shyt . They do but it's not their role, aside from the RAC being a reputable business, they tell you upfront and in all paperwork how much you would owe.

What do you consider the role of government?

I'll cut off the rest of your babble because I'm probably more successful than you are.

 

[Pressure]

The government role isn't to protect people from doing absurd and stupid shyt . They do but it's not their role, aside from the RAC being a reputable business, they tell you upfront and in all paperwork how much you would owe.

What do you consider the role of government?

I'll cut off the rest of your babble because I'm probably more successful than you are.

 

[Perfectson]

Financial institutions have capped interest rates they can legally charge. If its justifiable Rent-A-Center can skate around that on some bs then why aren't you arguing that banks should be able to charge their customers 400% interest and higher as well?

I mean if people sign up for it that's their problem right?

That's this whole libertarian style right let people police themselves and if people are willing that's their fault even if they don't understand what's happening to them clearly.

What do you mean they don't understand what's going on? They know how much the payments are and how long it takes to pay it off .

Predatory lending is more when banks go after Customer with offers that are deceitful or abusive , RAC is serving customers with products delivery, and setup fees with clear pricing .

There's a difference, I don't mind it being regulated but capping a 1% margin company is stupid

 

[Pressure]

But the catch was that it if you missed one payment within that 90 days, the no interest finance was voided even if I paid the $1400. That's something in the fine print that nobody paid attention to. Most people assume if they are a day late but paid the $1400 within 2 months they're good.

You actually took out a line of credit and are now paying off that line of credit. It's a completely different transaction method with different restrictions and protections than rent to own.

I find this post ironic.

 

[Perfectson]

What do you consider the role of government?

I'll cut off the rest of your babble because I'm probably more successful than you are.

I just told you want role they aren't here to do. Not going to discuss the other finite roles they do operate. But they aren't here to tell you not to by a good or service - that you actively seeking out - because you cannot afford it. That's your job! !!

 

[Pressure]

There's a difference, I don't mind it being regulated but capping a 1% margin company is stupid

Poor business model.

 

[Pressure]

I just told you want role they aren't here to do. Not going to discuss the other finite roles they do operate. But they aren't hear to tell you not to by a good or service because you cannot afford it. That's your job! !!

Seems you want it to be one way when it's really the other.

Especially when rent a center often depends on the government to collect items they sold to a customer who could not afford it.

 

[Perfectson]

You actually took out a line of credit and are now paying off that line of credit. It's a completely different transaction method with different restrictions and protections than rent to own.

I find this post ironic.

Yep same thing happened to me, I went to a dentist and he pitched this care credit shyt on me . I had the money but I said why not have interest fee payment, I just forgot it and they hit me with the balloon. I didn't cry about it, I knew the terms and conditions . I called them and said I'll give you X amount to drop it and we will call it square. They took the lower amount probably because they didn't want the hassle of trying to collect through a 3rd party lol.