RE: Rent-To-Own Scam Study- How Much You Are Actually Getting Ripped Off
I sell furniture in Savannah, Ga. My store is a Family Run and Operated for almost 75 years. We used to write our own paper "loans", but the Rent a Center mentality is something we had to deal with when the Savannah Stores opened. My main question is ,"How much is this a week". I started managing my own store and try very hard to explain the pitfalls of financing with a lease payment company. Rent a Center is actually inside of Ashley Homestores and Rooms to Go and is doing the same thing in those store. They set up this system to expand the type of furniture they have available in the Rent To Own outlet stores. When a customer cant pay.......its repoed......they are penalized and resell the stuff for the same price...they always get paid. The company I use reports to EQUIFAX and while its the same concept....they build credit. Rent A Center wants you as a customer for life........they want you stuck with them...its beyond a scam. I left working at an Ashley Homestore after my boss said that "I never told you that RAC Acceptance went on their credit".......and yes he did.....and my customer paid it off in ninety days.....but has nothing to show for it, except for the furniture.