- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
How does Rent-A-Center stay in business?
Posted on 7/29/18 at 6:41 pm
Posted on 7/29/18 at 6:41 pm
Or am I completely underestimating how many people are willing to rent furniture and electronics?
15
Posted on 7/29/18 at 6:42 pm to Tarik One
Easy...culcha
Posted on 7/29/18 at 6:43 pm to Tarik One
By renting stuff 
Posted on 7/29/18 at 6:43 pm to Tarik One
Id assume this reason right here
quote:
Although rent-to-own agreements are leases, not loans, and don't accrue interest, NerdWallet and Raycom calculated an equivalent annual percentage rate. The analysis found APRs at Rent-A-Center ranging from 43% to 468%, with the exception of New Jersey, where state law imposes a 30% cap.Oct 26, 2017
Posted on 7/29/18 at 6:43 pm to Tarik One
Same way that these national chain used car dealerships do. Making money off of financing.
Posted on 7/29/18 at 6:44 pm to Tarik One
What’s the stat again? Less than 4 out of 10 Americans have more than 1000 bucks in their savings accounts?
But 10/10 people probably still want that 1000 buck 55 inch flat screen. For a stress free price of 15 bucks a week for 5 years, everyone can have what they want.
But 10/10 people probably still want that 1000 buck 55 inch flat screen. For a stress free price of 15 bucks a week for 5 years, everyone can have what they want.
Posted on 7/29/18 at 6:44 pm to Tarik One
When a certain segment of society gets their food covered, rent covered, cell phones covered, and aren't expected to contribute to society, it's far easier to rent and never bother making the payments than to work a hustle and outright buy
Posted on 7/29/18 at 6:47 pm to Tarik One
When you're renting-to-own a $1000 TV for $100 a week over 26 weeks, you don't need to move that many to make a profit.
Posted on 7/29/18 at 6:49 pm to Tarik One
Here what I’ve been told. Poor people get their “taxes return” even though they don’t pay taxes. They take that money and pay the down payment or deposit for the furniture. They make a few payments then stop paying. After months of ducking the renting company, the rent a center finally repossess the furniture. Naturally, it’s destroyed. They collect their insurance in the furniture then sell it to people who will take it to Mexico and beyond.
In short, your taxes keep them alive.
In short, your taxes keep them alive.
Posted on 7/29/18 at 6:50 pm to TaderSalad
Ask my sister. They rent a fridge, cell phones , tvs,washer, dryer, deep freeze. And they both work full time. Why not buy used from Craigslist or swap and shop?
Posted on 7/29/18 at 6:54 pm to Tarik One
I rented some things from there while I was in college. I think that’s the only time I stepped into one of their stores.
Posted on 7/29/18 at 6:57 pm to Garden of Asik
quote:
a stress free price of 15 bucks a week
It's amazing how many people find something affordable if you give the weekly rate when they would balk at the monthly.
Posted on 7/29/18 at 6:58 pm to Garden of Asik
quote:
What’s the stat again? Less than 4 out of 10 Americans have more than 1000 bucks in their savings accounts?
But 10/10 people probably still want that 1000 buck 55 inch flat screen. For a stress free price of 15 bucks a week for 5 years, everyone can have what they want.
It's something like that
You can get a 55 inch for about 400 now though
Posted on 7/29/18 at 7:00 pm to Tarik One
Having worked for a few companies in that business. Its easy to figure out why they are in business. Just go drive through the poorest, most black areas if your town and its very very easy to figure out why they stay in business. I worked in that field for 10 years, thankfully i never had to do it in cities like Baton Rouge or New Orleans. New Iberia and Lafayette weren't as gangster then as they are now. I would never suggest anyone to work in that.
Posted on 7/29/18 at 7:00 pm to 0
quote:
I think that’s the only time I stepped into one of their stores.
I checked one out a few years back because they also sell the used furniture but it was all beat to hell.
Posted on 7/29/18 at 7:03 pm to CoachChappy
quote:
In short, your taxes keep them alive.
Not really. Taxes actually brought in people who either cash bought used items from us, or people would pay off their rental agreements out in cash. Stupidly if you ask me. Because at that time, they could have bought brand new stuff for the amount they paid for their current beat up, rented stuff.
This post was edited on 7/29/18 at 7:07 pm
Posted on 7/29/18 at 7:12 pm to Tarik One
People with terrible or no credit don't have many options to buy stuff that would require any type of financing. They don't have credit cards for stuff that may cost over a grand or so, so they have to go to RAC and pay 30% interest.
Posted on 7/29/18 at 7:18 pm to Tarik One
I have no idea because I've been doing my best to hose them. They offer no interest for 6 months ALOT at the one near the house and sell shite extremely underpriced knowing most folk will only pay the minimum payment and drag it out for years. Have saved easily thousands of dollars on everything from furniture to electronics by putting the down payment and then paying the rest off at the first month payment.
Posted on 7/29/18 at 7:29 pm to Tarik One
Probably stay in business via money laundering for organized crime.
Posted on 7/29/18 at 7:59 pm to Powerman
You definitely can get a 55 inch for 400 now, but the type of people renting to own the tv’s don’t know that and likely also do not have 400 bucks.
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News