Rent a center should be illegal

[Pressure]

subprime housing and car loans are different because people need a roof over their head and a means of getting to work so that they can survive. so car dealerships that prey on poor people with obscene interest rates for unreliable cars can actually ruin the lives of people just trying to get to work or have a roof over their head (subprime mortgage) or pay their utility bill before it gets cut off with a temp loan (pay day lending). RAC doesn't have anything on their website i would classify as a necessity.

This is a pretty dishonest take for a variety of reasons. But first, there are already laws in place to shield consumers from rent to own businesses. Meaning, it has already been recognized and accepted that these businesses need to be regulated and they pose a threat to society.

Further, it's also dishonest to say you went to the site and saw nothing on their site you classify as a necessity e.g. Appliances, but then say buying a home or cars at sub prime rates is a necessary, when there are similar options such as renting or purchasing cheaper versions available.

 

[Pressure]

If a person doesn't qualify for a 700 line of credit they shouldn't qualify for a 700 rent to own line of credit either.

 

[Yogi]

You can’t legislate away stupidity. Most of the items sold by RAC are not necessities. Most people who choose to do business with them simply want to live beyond their means.

 

[Professor Emeritus]

There should be a sticky of the schemes that specifically take advantage of people without money, so as to funnel what little money they have to people who already have a ton of money.

Payday Loans is obvious
Rent-a-Centers is obvious
Home bought "on contract" is obvious
Scratch-it Lottos
Slum Lords
Title Loans
Hell, a lot of Credit Cards in general could go here
Subprime Mortgages is a level up but in the same thought process

What else goes there?

where do accountability and common sense come into play? if poor people want to pay for that shyt then let them, no one put a fukkin gun to their head

the left never misses a chance to treat adults like helpless children who need government to know what's best for them

Conservatives used to be against taking advantage of the poor too. Look up ancient Jewish, Christian, Muslim texts, they all have strong prohibitions against taking advantage of the poor, they don't solely blame poor people. This was the reason that interest on loans used to be straight banned by the Church as well as Muslim societies.

 

[the cac mamba]

There should be a sticky of the schemes that specifically take advantage of people without money, so as to funnel what little money they have to people who already have a ton of money.

Payday Loans is obvious
Rent-a-Centers is obvious
Home bought "on contract" is obvious
Scratch-it Lottos
Slum Lords
Title Loans
Hell, a lot of Credit Cards in general could go here
Subprime Mortgages is a level up but in the same thought process

What else goes there?





Conservatives used to be against taking advantage of the poor too. Look up ancient Jewish, Christian, Muslim texts, they all have strong prohibitions against taking advantage of the poor, they don't solely blame poor people. This was the reason that interest on loans used to be straight banned by the Church as well as Muslim societies.

i dont have any interest in politicians sitting around writing laws that interfere with customers making a willing agreement to buy frivolous, non-necessity items. it's a trash precedent

you know what they need to go after is the title insurance industry this shyt is disgusting. im buying a place now and only iowa guarantees your title for like a hundred bucks. these fukkin companies are giving lawyers an 80% commission to sell you owners title insurance

 

[Ethnic Vagina Finder]

I use to work for Rent a Center

They will literally rent to anybody.

But here's the rub. Renting by definition is paying someone to USE SOMETHING.

And the part of it all is 99.99% of the time when you rent, you're paying for something that's not even brand new.

 

[Dr. Acula]

Definitely an exploitative industry and I wouldn't cry if they were made illegal but you can't ignore consumer's side in this situation. For example, if you're using a RAC for some beats headphones, you need to educate yourself about personal finance. It's not a necessity and if you're in such dire straights that you need to go to RAC for headphones, you may need to just accept dealing with those 8 dollar raggedy headphones that get tangled immediately when you open the package from Walmart.

You can't ignore this level of ignorance and bad decision making when discussing this. If you're renting a fridge or something more essential, for a short time, I understand. But folks are renting TV and furniture and shyt. In my life, when I was a young teen we didn't have a couch for the longest time. Without going into details about my personal life, it was a time where money was tight. I used to sit against the wall on the floor watching TV.

 

[Pressure]

Lawmakers weigh changing Texas law that lets rent-to-own stores file criminal charges on customers

 

[Chris Cool]

City i work in is 73% white and less than 1 % black and that's the only one I've ever seen. Don't see how they're targeting people of color, not like they're targeting dumb asses.

 

[Reece]

Pay your bills and your credit will never be so fukked up that you have to pay 150% interest to buy a pair of headphones

 

[the cac mamba]

Pay your bills and your credit will never be so fukked up that you have to pay 150% interest to buy a pair of headphones

not to mention that these are 20 dollars

i mean im sorry, but rent a center is not the water department or a grocery store

 

[11101]

Big daddy government isn't going to come save you everytime you do some dumb shyt. If you got through high school, you should be able to do the math on these deals and see you're getting fukked. I don't know what to tell you

 

[Paper Boi]

capitalism is the problem here.

 

[Pressure]

Big daddy government isn't going to come save you everytime you do some dumb shyt. If you got through high school, you should be able to do the math on these deals and see you're getting fukked. I don't know what to tell you

You really believe that?

 

[Ethnic Vagina Finder]

When you rent out something, eventually it's meant to be brought back so you can rent it again. That's how you make $5000 off a $500 computer. If you want to "own" it, of course they're going to make it hard because in the long term that's lost revenue for them. That's the part people dont understand.

These rent to own companies are really for businesses, even planners and home staging.

But most people who use their service are low income and dont have the disposable income to save up and buy it within a few months.

But there is a loophole. If you make enough payments that equal well over the value of the item, you can stop paying. They will take you to court but you would win. I've seen it happen plenty of times when I worked at rent a center.

People with 5 or 6 payments left would say fukk it and stop paying. And the company couldn't do shyt.

It's funny because my job was making sure people paid on time and I had a weekly quota to make. On the flipside the sales rep had a sales quota to make so they would sign up anybody, even if they knew they was going to be a problem after a few weeks.