Cost of rent-to-own up-to-date entry-level PC from Rent-A-Center?

[VirtualLarry]

Just curious if anyone know the approximate monthly cost, and total overall cost, for an entry level PC from RAC?

(They don't give out prices on their site, unless you give them info, last time I checked.)

If this is considered a price check, then I guess lock it, but I'm a bit curious what they charge.

Edit: Found one Q&A-type site, with prices from 2010, something like $39.99 /wk for a laptop? $3600 total to own?

That's CRAZY. I gotta find out a way to get in on that biz, I guess.

 

[bbhaag]

Just curious if anyone know the approximate monthly cost, and total overall cost, for an entry level PC from RAC?

(They don't give out prices on their site, unless you give them info, last time I checked.)

If this is considered a price check, then I guess lock it, but I'm a bit curious what they charge.

I don't know but aren't most of those places kind of a ripoff? They gots to make money some how and selling you an item at retail prices won't do it. I've never done it but it seems like they would tack on a percentage so they can make money.

 

[VirtualLarry]

Yeah, they are a ripoff. (Edit: In terms of total outlay, rather than just buying something outright at retail. But if you don't have the money in one lump sum... well.) I'm just wondering what they charge (ballpark). I'm selling a friend of mine a PC, on a two-year installment plan, for less that total parts cost, and I think I might have made a mistake. I mean, I'm not out to rip him off, but ... I wonder if I'm ripping myself off, kinda.

OTOH, I would much rather provide him with a PC, than the actual R-A-C. He'd be screwed if he did something like that.

 

[MagnusTheBrewer]

Put the RAC down and step away, nobody gets hurt.

 

[SKORPI0]

Of course rent to own places are a ripoff.

Here's a sample. Do the math $89.99 x 24 months = $ 2159.76 + tax

https://www.aarons.com/p-1567-49-4k-uhd-led-smart-tv-with-webos-30.aspx

Same exact model at Amazon.com - for $559.95 + free shipping.

https://www.amazon.com/LG-Class-Ultra-LED-Smart/dp/B01M1CVPIY

That's a 385% markup.

 

[bbhaag]

Yeah, they are a ripoff. (Edit: In terms of total outlay, rather than just buying something outright at retail. But if you don't have the money in one lump sum... well.) I'm just wondering what they charge (ballpark). I'm selling a friend of mine a PC, on a two-year installment plan, for less that total parts cost, and I think I might have made a mistake. I mean, I'm not out to rip him off, but ... I wonder if I'm ripping myself off, kinda.

OTOH, I would much rather provide him with a PC, than the actual R-A-C. He'd be screwed if he did something like that.

That seems like a poor decision. I'm not sure you can take the RAC approach either because he is your friend and you're not a business. I know you like to buy and sell hardware but I don't think you will get your money back on this transaction.

 

[Red Squirrel]

Wow this seems like a rather lucrative business to get into. Kinda like rental water heaters and now they're even doing it with furnaces and A/C.

Companies are often all over stuff like this though, as it's a tax write off. I guess owning is not... don't know how that's suppose to work, just heard that companies like to lease stuff vs own because of taxes.

My company leases PCs, and it's silly the waste that generates. We JUST got new PCs, and now they're already talking about rolling newer ones out. Newer != higher end specs, just a new box that is basically the same specs, but different enough that the OS still needs to be reloaded. Still only 4GB of ram. The newer generation of laptops at my company also has no docking port. LOL. The issue is that they let the bean counters make these decisions without consulting the people actually using the equipment.

 

[darkswordsman17]

You also have to factor in the likelihood of the people failing to pay that, and then either losing out on the item (or even the depreciation if they don't end up keeping it), or the cost/hassle of getting it repossessed.

 

[renz20003]

Back in the day my brothers girlfriend wanted to rent to own a PS2. We talked her out of it by telling her the total price to own.

$800

I actually wanted to rent an Xbox one for just a month to check it out but they wouldn't do it. It was like a 6 month minimum rental.

• Tech Specs (CHIP,Memory,Storage) : 4GB Internal Memory

• Size : 20"

• Dimensions : 19.4"W x 15.5"D x 13.3"H

• Other Specifications :
  Intel® Pentium® G4400 processor
  Intel® HD Graphics

 

[mrjminer]

These aren't really supposed to be fair prices. They are supposed to be prices for people who are extremely unlikely to pay beyond the first few payments.

 

[dandruff]

These aren't really supposed to be fair prices. They are supposed to be prices for people who are extremely unlikely to pay beyond the first few payments.

yup .... even with those margins, they dont make good money .. way too many losses ... multiple tenants of mine have ordered a whole house set of furniture, tvs, laptops, beds, mattresses etc. and then moving out with the stuff ... when RAC / Aarons come to repo - they are not even surprised to see an empty rental ... cost of doing business ...

 

[Darwin333]

I have a few employees that rent to own shit, I know because we occasionally get calls trying to collect past due payments from them. So when I got a flyer in the mail from them I actually read it instead of just trashing it right away. At first I thought the payments listed were monthly but then I saw weekly and holy shit. You could simply save the payments for a month and a half or maybe two and buy it cash, saving the payments for the next 4+ months. Rent to own is basically for people with zero/horrible credit, no ability to save and very bad at math.

 

[Darwin333]

That seems like a poor decision. I'm not sure you can take the RAC approach either because he is your friend and you're not a business. I know you like to buy and sell hardware but I don't think you will get your money back on this transaction.

Even if he does get paid in full, he is selling at less than cost and then the time factor of his money outlay over the course of two years, he is definitely ripping himself off or doing his friend a huge favor.

 

[lxskllr]

Even if he does get paid in full, he is selling at less than cost and then the time factor of his money outlay over the course of two years, he is definitely ripping himself off or doing his friend a huge favor.

Yea. What *I'd* do for a payment plan to a friend is set it up to make money at full term, but cut him loose before the term is over. That works well on multiple levels, and reduces the chances of getting fucked.

 

[Raduque]

The cost of Rent to Own is generally 3 to 5 times the actual retail cost of an item at anywhere else.

I did it once, way back in the past, back when I was making minimum wage and had no other bills. Bought a TV, ended up paying $2200 for a 55" rear projection HDTV back in 2004 (retail was $1500 or so). One positive about it was, I originally purchased a Toshiba 42" model that failed (twice) so Aarons replaced it with a Mitsubishi 55" model and it lasted me several years.

 

[dave_the_nerd]

You also have to factor in the likelihood of the people failing to pay that, and then either losing out on the item (or even the depreciation if they don't end up keeping it), or the cost/hassle of getting it repossessed.

Exactly - these businesses make a killing when people pay their bills, but probably half their customers don't.

Basically the same way these guys work: https://www.youtube.com/watch?v=4U2eDJnwz_s

 

[Imp]

I actually rent-to-own'd my cable box... Think the premium was 20% or less over 3 years. It was $500 upfront or $15 a month. I didn't feel like parting with $500 at once.

The prices in this thread are insane... There are probably huge hidden cancellation fees too.

 

[Red Squirrel]

How is it that people can just stop paying? Wouldn't they be brought to collections and stuff or have the item repossessed? Or have their wages garnished etc? Or are these companies not large enough to have that kind of power?

 

[lxskllr]

How is it that people can just stop paying? Wouldn't they be brought to collections and stuff or have the item repossessed? Or have their wages garnished etc? Or are these companies not large enough to have that kind of power?

Yea, you don't pay your bill, your stuff gets repossessed. I guess you can beat them out of it by skipping town or something. Cost of doing business. You win some, you lose some. That's one reason their rates are ridiculous.

 

[OutHouse]

Go to a pawn shop

 

[nutxo]

If he has to do rent a center have him call around and find a return. Any payments made on the device will count against the total price. My son got a like new xbox one for 125 bucks and I was able to find a matching replacement for our neptune washer for under 300.