THE NEGROFICATION OF AMERICA or RENT TO OWN.

[JAMESBJOHNSON]

http://finance.yahoo.com/news/americans-are-becoming-satisfied-with-less-180206319.html

Americans are now okay with much less. Hillary makes 300K for one speech, Chelsea makes 27K a minute to interview cartoon animals. And you rent to own your junk furniture.

 

[AZMotherLover]

http://finance.yahoo.com/news/americans-are-becoming-satisfied-with-less-180206319.html

Americans are now okay with much less. Hillary makes 300K for one speech, Chelsea makes 27K a minute to interview cartoon animals. And you rent to own your junk furniture.

That's Reaganomics in action. Give the money to the rich, and it trickles down to the poor in the form of weekly payments on a new flatscreen.

 

[Que]

I worked rent-to-own briefly. Our shop, 50% of your rental payment went towards paying the full retail price, 50% went to rent which covered profit and all of the overhead with dealing with a clientèle where over 30% of them ar late at any given time.

Still. I felt guilty. It felt like usury. Even though most RTO outfits 70% goes down the drain. I pictured poor families desperate for a refrigerator or stove.

As part of the "close" we would print up the 18 month payment schedule so they could see what the retail price was today, how only 1/2 of their payment went towards equity, and at each month it showed the payoff amount as well as the sum of the payments to that point. It clearly showed that that $369 stereo, hi-fi, 4-head VCR would end up costing you. $738. That if you saved your money and waited 9 months you would have it for 1/2 price in 1/2 the time.

They would only ask, "where do I sign?"

 

[BoyNextDoor]

How about usury is outlawed?

Then only outlaws will be usurers.

 

[Que]

How about usury is outlawed?

Then only outlaws will be usurers.

Ha.

There was no usury ceiling in my state. I have been out of various forms of fiance and finance products for quite a while. There must be a ceiling now, because "payday loans" secured by nothing are illegal now.

You can still encumber your vehicle with what amounts to a never-ending payment at 1000% per annum if you wish.

The "no such thing as usury" law was supposed to make shylocks obsolete, and the modification of that was supposed to fix that. There has been talk of fixing the vehicle loans.