Rent To Own Tires
06-21-2013, 10:26 AM
#1
Boost Czar
Thread Starter
iTrader: (62)
Join Date: May 2005
Location: Chantilly, VA
Posts: 79,493
Total Cats: 4,080
Rent To Own Tires
LAT: High prices are driving more motorists to rent tires
This is why used tire places exist...silly fools.
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.
So they decided to rent instead.
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.
Socked by soaring tire prices and short on funds, growing numbers of Americans are renting the rubber to keep their cars rolling.
Rent-to-own tire shops are among the newest arrivals to a sprawling alternative financial sector focused on the nation's economic underclass. Like payday lenders, pawn shops and Buy Here Pay Here used-car lots, tire rental businesses provide ready credit to consumers who can't get a loan anywhere else. But that access doesn't come cheap.
Customers pay huge premiums for their tires, sometimes four times above retail. Those who miss payments may find their car on cinder blocks, stripped of their tires by dealers who aggressively repossess. Tire rental contracts are so ironclad that even a bankruptcy filing can't make them go away.
So they decided to rent instead.
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.
Socked by soaring tire prices and short on funds, growing numbers of Americans are renting the rubber to keep their cars rolling.
Rent-to-own tire shops are among the newest arrivals to a sprawling alternative financial sector focused on the nation's economic underclass. Like payday lenders, pawn shops and Buy Here Pay Here used-car lots, tire rental businesses provide ready credit to consumers who can't get a loan anywhere else. But that access doesn't come cheap.
Customers pay huge premiums for their tires, sometimes four times above retail. Those who miss payments may find their car on cinder blocks, stripped of their tires by dealers who aggressively repossess. Tire rental contracts are so ironclad that even a bankruptcy filing can't make them go away.
This is why used tire places exist...silly fools.
Reply
0
0
06-21-2013, 10:44 AM
#10
No different than the RTO furniture and computer places. People pay 4-5x the cost of the furniture or electronics. Had a friend who was a manager at one of these places, he had people with $3k-4k/month payments with them. They would walk in and just rent the entire houses furniture.
This is what happens when you have uneducated people with high income.
Kind of like these guys
This is what happens when you have uneducated people with high income.
Kind of like these guys
Reply
0
0
06-21-2013, 11:13 AM
#12
Rent N' Roll has a huge presence in Pinellas County. They are almost exclusively in St. Pete though.... guess what demographic resides in St. Petersburg Florida. It is actually quite funny to see someone who had rented 24" rims for his camry and then either got them repo'ed or realized what new tires would cost and is now driving around a lifted camry with 14" steelies. The ignorance on how credit and banks work is absolutely phenomenal. The best behavior takes place around tax return time.
Reply
0
0
06-21-2013, 11:24 AM
#13
Preying on the dumb, poor and ignorant is been an American way for a long time. Look at all of the RTO, low-credit loans specialists, buy-here-pay-here lots, payday loan places, and "bad credit, no problem" advertisements. The best solution is to have an education and some deductive reasoning skills. But as the number of "dumb" grows, there will be plenty of money to made from them...it's a matter of having the moral and ethical ability to screw them over....which I don't feel bad about. Stories like that shouldn't be news, people's poor decisions because they didn't read what they were signing isn't news by any means.
Reply
0
0
06-21-2013, 01:42 PM
#16
**** politics, how about some stereotypes up in this bitch?
On what ******* PLANET does a Chevy Silverado take an "odd size?" I'll give 10:1 odds this ******* thing has 26" wheels or bigger on it, and the mouthbreather that put those ******* things on the truck is too ******* stupid and/or dedicated to being the baddest donk on his/her ghetto block to think of selling them for some stock rims and tires, of which you can get for like.. $400.
Or this. INFINITI SUV?
You're not too poor for tires. You're just too ******* stupid to function.
Originally Posted by article
Michelle Collins of Denham Springs, La., made her way to a Rimco store after her long-unemployed husband found work.
The tires on their Chevy Silverado were in terrible shape, too dangerous to be used for the long drive to his new job as an industrial painter. But they were such an odd size that the cheapest replacement set cost $1,340 at a regular tire store, far beyond Collins' budget.
The tires on their Chevy Silverado were in terrible shape, too dangerous to be used for the long drive to his new job as an industrial painter. But they were such an odd size that the cheapest replacement set cost $1,340 at a regular tire store, far beyond Collins' budget.
Originally Posted by article
When Birdie Smith and her daughter rented four tires for their Infiniti sport utility vehicle at the Inglewood branch of Rent-a-Wheel, they were reminded they had to pay $41.90 every Saturday, in person.
But money was tight and they eventually missed a payment. Smith, who lives in South Los Angeles with her daughter and three grandchildren, was shocked to see a squad car pull up to their house a few days later.
But money was tight and they eventually missed a payment. Smith, who lives in South Los Angeles with her daughter and three grandchildren, was shocked to see a squad car pull up to their house a few days later.
You're not too poor for tires. You're just too ******* stupid to function.
Reply
0
0
