Author Topic: Getting Rich from the Poor  (Read 7983 times)

0 Members and 1 Guest are viewing this topic.

Offline Scunner

  • Chairman of the Bored
  • Administrator
  • Prolific Member
  • *****
  • Posts: 45714
  • Age: 57
  • Location: Perthchester
Getting Rich from the Poor
« on: August 19, 2013, 16:22:38 PM »
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?

Offline mog

  • Jr. Member
  • **
  • Posts: 41
  • Newly Registered
Re: Getting Rich from the Poor
« Reply #1 on: August 19, 2013, 16:46:11 PM »
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.

Offline Scunner

  • Chairman of the Bored
  • Administrator
  • Prolific Member
  • *****
  • Posts: 45714
  • Age: 57
  • Location: Perthchester
Re: Getting Rich from the Poor
« Reply #2 on: August 19, 2013, 16:54:11 PM »
"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.

Offline mog

  • Jr. Member
  • **
  • Posts: 41
  • Newly Registered
Re: Getting Rich from the Poor
« Reply #3 on: August 19, 2013, 16:58:25 PM »
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   :)

Offline mog

  • Jr. Member
  • **
  • Posts: 41
  • Newly Registered
Re: Getting Rich from the Poor
« Reply #4 on: August 19, 2013, 16:59:21 PM »
well i never, the smiley did appear!!  :)  :)

Offline GordonA

  • Chauvanist Clown & Resident Curmudgeon
  • Sr. Member
  • ****
  • Posts: 2680
  • Age: 19
  • Location: United Kingdom
Re: Getting Rich from the Poor
« Reply #5 on: August 19, 2013, 19:06:46 PM »
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.

Offline Susiepink

  • Full Member
  • ***
  • Posts: 418
  • Location: Calis
Re: Getting Rich from the Poor
« Reply #6 on: August 19, 2013, 19:19:24 PM »
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

Offline KKOB

  • Prolific Member
  • *****
  • Posts: 13570
  • I'm hearing the word.... Nonce !
Re: Getting Rich from the Poor
« Reply #7 on: August 19, 2013, 19:21:10 PM »
Didn't it use to be called Hire Purchase, Leasing or On The Never-Never?

Offline GordonA

  • Chauvanist Clown & Resident Curmudgeon
  • Sr. Member
  • ****
  • Posts: 2680
  • Age: 19
  • Location: United Kingdom
Re: Getting Rich from the Poor
« Reply #8 on: August 19, 2013, 19:37:43 PM »
Hire purchase = Budgies wi' heads for heights,  Leasing = Chinese karaoke star,  Never- Never = where Pedro Panoni lives  !!   ;)

Offline BernieTeyze

  • Sr. Member
  • ****
  • Posts: 2788
  • Age: 63
  • Location: United Kingdom
Re: Getting Rich from the Poor
« Reply #9 on: August 19, 2013, 19:46:26 PM »
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.




Share me

Digg  Facebook  SlashDot  Delicious  Technorati  Twitter  Google  Yahoo
Smf