Calis Beach and Fethiye Turkey Discussion Forum
General Topics => The Debating Chamber => Topic started by: Scunner on August 19, 2013, 16:22:38 PM
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What sort of a country are we, where places like Brighthouse and Wonga make repulsive profits out of people who have very little? I was looking in our local Brighthouse in Perth - and bright it is indeed with all the latest phones, televisions and white goods - the washing machine in the window was an uncompetitive £450 to start with, but with credit costs and the fairly much compulsory extras like breakdown cover the full amount payable was a touch under £1000!
How can one of the World's top players (don't laugh) justify an economy where those who have the least, pay the most?
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the extortionate costs at retail oulets is the main reason so many shop on-line now. Also, i didn't know that there was a complulsory breakdown cover. Most electrical items have at least a 2 year guarantee. I bought a cheap washing machine and the extended warrenty of 3 years cost more than a replacement should it should happen to pack up when the manufacterer's warrenty ran out. I told them to shove their extended warranty where the sun don't shine.
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"Optional Service Cover (OSC)
With our Optional Service Cover (OSC) you won’t need to find a penny extra if your product breaks down. We’ll aim to repair it or replace it quickly, with all parts and labour included - no hidden charges. What’s more you can return your product at any time during your agreement, and you won’t have to pay a penny more! (Terms and conditions apply)."
You are right, these things should be covered anyway. My understanding is that the "optional" service cover is strongly recommended, if you want to buy the electrical product.
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they "strongly recommend" because they want your money. It's highly likely that even a cheap machine will last at least 5 years, even at the rate my missus does her washing. (can't add smiley as it keeps coming up with :)
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well i never, the smiley did appear!! :) :)
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Brighthouse's entry in Wikipedia is down right scary, I copied this little bit;
BrightHouse is the largest rent-to-own company in the United Kingdom, with over 270 stores. BrightHouse is a trading name of Caversham Finance Limited which is owned by private equity firm Vision Capital.
Now, to me, "rent to buy" in this instance would & does imply that in the event of a customer taking say. a 24 month agreement to buy goods, and pay every single payment on time, without fail, at the end of the 24 months period, that customer still must pay an extra amount in order to "buy" the goods. Draconian, to say the very least.
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The salespeople get really good commission on selling you the extra cover.
I never buy it, you usually get a year or two of guarantee from the manufacturer, and these days things simply aren't made to last. It's as cheap to replace as to repair these days
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Didn't it use to be called Hire Purchase, Leasing or On The Never-Never?
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Hire purchase = Budgies wi' heads for heights, Leasing = Chinese karaoke star, Never- Never = where Pedro Panoni lives !! ;)
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It,s the same with people on token/card/key meters for utilities, get charged much more for the pleasure of paying up front for the service they want to use...ridiculous..yes, some people have a prepayment meter as they have had a previous debt, or are paying off a debt. It really is so unfair.
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I would be interested to know what places like Brighthouse sell most of - huge plasma TV's, latest model tablets and mobile phones or essentials like cookers, washers etc?
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They don't do tablets or phones. They're easier to nick than buy.
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They don't do tablets or phones. They're easier to nick than buy.
Big telly then - can't get that under your coat! ;D
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I think he's pulling your leg, they certainly do phones, they were advertising the Samsung Galaxy S4 today.
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In that case, is any sympathy for those paying the outrageous amounts being charged misplaced? If you can't afford to buy luxury items but your desire is so strong that you will pay hugely over the odds then that is your choice and the business will capitalise on it.
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You would hope that people are buying washing machines and fridges rather than 52" televisions and the latest mobile phones. But of course they are selling all of them. My sympathy is with those who are trying to provide for their families and have no other way of keeping food fresh, or clothes clean.
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It is quite disgusting that there is so little regulation, f course what might be useful is to obtain and publish an investors/shareholders list! Great shame for the Church of England that they were a sizeable investor in Wonga!
Short term high interest loans are not new, Companies like Provident Finance have been around a very long time and filled a need in the market with relatively high but not astronomical interest rates, they have been around for 130 years and have to factor in the costs of their agents who collect the weekly payments and as the loans are unsecured the high percentages of default.
But as there was almost no regulation greedy opportunists backed by financiers have seen an opportunity to capitalise on the poor and we need legislation very urgently.
Brighthouse used to be Radio Rentals --- remember them? Mainly in business to rent originally and now as you say have become a replacement for high interest hire purchase, however, again they do incur pretty heavy losses and people don't and wont pay but the goods have little value. But, the rates are high and legislation again is needed!
This is all part of Britains sick "me me me" society unfortunately. Growing up on Council Estate with a high proportion of low paid workers and serial petty offenders there was little money and many people basically had "weekly paid" loans or HP to afford some small luxuries like a Radio -- where Radio Rentals started of course - but the payments were not huge and people more responsible sop repossessions were rare. Now I see people racking up huge debts and actually heard a group in my local Pub discussing how they could get loans written off and which organisations to approach and this was just so they could avoid paying their debts deliberately! Not poor really, one is a well paid engineer and his partner teaching! People "play the game" and it is regrettable that those most in need are the most exploited.
Right, enough said, I am off to a Revolutionary Council meeting!
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Cash Converters and Ramsdens are just as bad as they pay desperate people really terrible prices for the things they take in to sell. I have heard some stories of what they have given people for gold rings etc.,
The Manager of the Cancer Research took in a gold bracelet to Cash Converters and they offered her £25.00 She brought it back to the shop. When I called into the C.R. I had a look at the bracelet and told them to put £70.00 in it. They did and it sold immediately, I priced it to sell, but I know there was still a profit in it for someone.
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I become incensed every time I see one of those loan shark companies pop up on TV.
Quick Quid Representative APR 1734% This is not a misprint.
Appalling that we've made respectable 'Big Jimmy' the evil loan shark that sent his minions round the local council estates to violently threaten single Mums into paying up extortionate interest.
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Aye, well 'oop 'ere in't North West we still have a lot of pawnbrokers, in fact they are now regarded as a respectable organisation and of course their "fees" are very low. Yes you can borrow so much, but if it really is a "pay day" loan why do you need so much?
We are back to as I said before leaving for the meeting. (We have decided to let a Constitutional Monarchy remain :) ) We have a sick, greedy uncaring Society getting more like the USA every day, where people sit together desperately working out if they can afford a life saving operation for their Mother or let her die? (I loved it when I went there, I hated it by the time I was able to transfer back home again because I learnt that if you steal, kill, rape these are all serious Crimes but not as bad as being poor!)
Our Politicians all have the same disease as everyone else, their greed stops them legislating intelligently if it means lack of personal profits. I am glad I probably wont be here in 20 years time, I would hate to see what has happened to my Green and Pleasant land!
If we really wanted to truly help the poor in this Country we would create the environment, jobs with fair wages, (OMG he is talking about going back to skills and making stuff and getting dirty hands ------- he is a Blasphemer!), proper use of taxation monies, cut University places by half and get people learning proper skills.
Oh the hell with it I have really upset myself now -- I am going to the pub!
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Sorry, that was more of a Rant than a debate comment wasn't it :)
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It was John but I don't think there is a single person on here who does not echo your sentiments entirely.
The pass marks now for our kids to enter university are so low that any numpty can now spend four or five years studying, and I use the term loosely, to gain a degree which isn't worth Jack Sh&t in the real world but that's a debate for another thread.
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I like many on here, I don't doubt, have lived through a recession or two.
This one though feels particularly grim. Every day I hear, see or experience something that leaves me with an unfavourable taste in my mouth.
Very fortunately, my family aren't struggling and our business is currently doing well (we never take it for granted though) but it's my friends that were never very well off anyway that seem to be hardest hit. Whilst that may seem pretty obvious, it's as though our present regime is going to ensure they are severely punished for being poor in the first place.
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I don't think there is a single person on here who does not echo your sentiments entirely.
Oh yes there is! The notion that undergraduates do not study proper subjects, and that their degrees are worthless, I regard as 80% claptrap and 10% piffle. There may be some debate over the remaining 10% but I suspect that half of it is ill-informed misunderstanding.
That may also be a bit of a rant and the subject of a different thread. I don't hold out much prospect of a good "debate" on such a thread.
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Not involved in Higher Education I hope Colwyn? I have to say I went to University, I studied Electronic and Electrical Engineering, got my piece of paper.
Fortunately I did an apprenticeship first, so I learnt something before wasting a lot of time on a course that could have been done in two years rather than 4, where I was taught totally outdated technology, and had to suffer such subjects as "Scientific Philosophy" from a left wing lecturer who was keener on pushing his poitical views than us actually learning anything. (when he bothered to turn up!) It was a waste of time, outdated learning, things I have never used, and I only did it as I found that despite my proven skills other graduates wouldn't employ you in the "club" unless you had been to University! I learnt about 10% more than I did doing an HNC part time for two years! It is my absolute conviction that 50% of university places could be dropped with no detrimental effect. How many Political Science or Media Studies graduates can we employ ? Who needs an employee who has a degree in David Beckam? Shoule we perhaps offer "Perennial Stuident" as an official cpurse and maybe even a Masters?? -- not Oxon -- see I do know the system!
Strangely I have no objection to people becoming better educated, and University serves so many purposes not least a big "growing-up" as often first time away from home, managing finances etc. and developing the mind is good. However it is very expensive, and as such it should be something you earn not a right! Why shouldn't a talented History Scholar go on and take a degree and even a PHd, people can enrich our Society and it should be more than about "getting a job". (Whatever happened to the Articled Clerk route to becoming a Lawyer?) But
little Selwyn who just about made it through the dumbed down A levels and has an aptitude for mechanics going to university to do Political Sciences --- why???
We need the arts and educated people as a nation, we don't need millions of people with a useless piece of paper, or thousands of highly paid lecturers encouraging even more university places to create even more lecturing jobs!
One only has to look nearby at Germany, a Country that does not insist on so many University places as a percentage of it's population, but where they lead Europe in technology and manufacturing, where they work less hours and produce more, so how do they do that? 1960's methods -- apprenticeships, technical colleges, truly educated population, you pay attention in School in Germany -- or else!
If we as a nation want a major Industry of Education specialising in overseas students at high levels of income, that is different, a business like any other, but from what I see in the workplace, it isn't working, and it is to my regret that a few years ago I did reduce a totally inept young person to tears unintentionally when they referred to "at Uni .............." by my very brusque "What?? YOU went to University --- I suggest next time you pay attention"! Sorry if you are a CBF member and reading this :)
I'm paying for all this nonsense and I don't like it!
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Oh, I forgot to add , in my family I have 3 trainee Doctors all at University, one "Classics" Scholar
doing a PhD so not opposed to University for the right reasons! Also have two blood relatives who both went to University, both did "easy" subjects, neither has ever worked or ever will work in areas where whatever they were supposed to have learned will ever be used.
The experience and being away from home and personal development may I recommend VSO?
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Not involved in Higher Education I hope Colwyn?
I am involved in retirement.
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Some time after I posted this, I am pleased to hear the news today.
Sadly they will survive and carry on making huge profits out of the poorest people.
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Used to be Catalogues you could buy and pay weekly.
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So am I due some money back..What's happened?
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Shoppacheck used to collect on a Friday night around the estates. People paying a fortune to have things they think they need. I'm talking the 80's here.
I used to have to get there before them to collect the Prudential premiums or people got in arrears.
Went to one house every week and a woman had a five pound note sticking out of each ear. She was always £10 in arrears ;)