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(LA Times)   Rent-to-own shops now offer tires ... at highly inflated prices   (latimes.com) divider line 54
    More: Obvious, High Price, repossessions, Rent-A-Center, Dodge Caravan, Chevy Silverado, credit check, University of Houston, tires  
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1340 clicks; posted to Business » on 11 Jun 2013 at 9:38 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-06-12 12:18:19 AM
When the tires on their Dodge Caravan had worn so thin that the steel belts were showing through, Don and Florence Cherry couldn't afford to buy a new set. The Rich Square, N.C., couple last September agreed to pay Rent-N-Roll $54.60 a month for 18 months in exchange for four basic Hankook tires. Over the life of the deal, that works out to $982, almost triple what the radials would have cost at Wal-Mart. "I know you have to pay a lot more this way," said Florence Cherry, a 57-year-old nurse who drives the 15-year-old van when her husband, a Vietnam veteran, isn't using it to get to his job as a prison guard. "But we didn't really have a choice."

So you can afford to pay $54.60 per month for 1.5 years to buy tires at 3x their retail price, vs saving up $54.60 per month for .5 years prior to your tires needing replacement.

Because tire wear is something that happens overnight.

// how did humanity get so damned stupid?

// how did I get so lazy? I should be exploiting the hell out of stupid people while enjoying rum based drinks on the tropical island I call home.
 
2013-06-12 12:44:49 AM

lordargent: So you can afford to pay $54.60 per month for 1.5 years to buy tires at 3x their retail price, vs saving up $54.60 per month for .5 years prior to your tires needing replacement.

Because tire wear is something that happens overnight.

// how did humanity get so damned stupid?

// how did I get so lazy? I should be exploiting the hell out of stupid people while enjoying rum based drinks on the tropical island I call home.


OK, that makes a lot more sense than my solution, without involving complicated percentage calculations. It's like people don't think to save anymore.

Don't get me wrong; I understand the temptation to spend what you get.

Money is like porn: it's hard not to blow your load at first sight, and on a frequent basis thereafter. If you're not impatient, though, and use it only now and then, the payoff can offer more relief and you may sill have some of the load in reserve.
 
2013-06-12 12:45:54 AM
*still

/stupid unintelligent spellchecker thought it was right
 
2013-06-12 01:01:14 AM
cyberspacedout: OK, that makes a lot more sense than my solution, without involving complicated percentage calculations. It's like people don't think to save anymore.

That's the thing that gets me.

There's about 30 days in a month.

54.60 / 30 => $1.82

Two adults couldn't trim back and save 1.82 per day between the two of them. That's what confounds me.

I mean yeah, some people get into really bad situations, but I don't think this is one of those cases.

Her husband is a prison guard, and apparently, when he's not at work, she's driving the van.

So ... can you cut down on the driving a bit, save some gas? Have a lighter lunch? Skip a coffee? Something!

$1.82 / day is not exactly an insurmountable goal.
 
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