Calis Beach and Fethiye Turkey Discussion Forum
General Topics => All things that have nothing to do with Turkey => Topic started by: Scunner on October 23, 2010, 18:17:39 PM
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I've never heard of Brighthouse before and now we have one here. They sell everything for the home - the latest TVs, leather suites, washing machines etc. You don't need to be rich either - it's easy for all to have new things here.
I was astounded to see a new Playstation 3 for £372. I paid £249 ages ago when they were newer and much more expensive. But £372 is just the beginning - the real 'advantage' of Brighthouse is that you can pay weekly. With credit charges, my £249 PS3 (their £372 PS3) works out as a total payment overall of £422 with a credit period of just one year (52 weeks). The credit period is short which gives the impression of a good deal, and again the actual price is very high initially to keep cash price and overall cost using credit within £50 of each other. You can see why it was very busy there today.
I know this is a new slant on an old system (like the old Littlewoods catalogues) but in Great Britain in the 21st Century it is sad to see that the poorest people still end up paying the most for things.
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True Scunner and their tactics when the customers default on a payment is apparently as bad as their prices!!!
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This type of store has been banned in the States for quite a few years due to their business practices/interest rates etc. Have been really surprised that nothing has ever been done over here.
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Yes Scunner, it is very sad to see, firms like that are making easy profits by giving credit to bad risk customers who a bank would not look at, you would think they would at least make the prices they charge a bit more reasonable.
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Brighthouse had a high profile T.V. Advertising campaign around 2006 with Melanie Sykes fronting it. She got so much flack she packed it in. I see they still advertise on T.V. but without a celebrity,
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We've one in a shopping centre near us. I cringe every time I pass and see people in there who have no other means of getting that new suite, playstation for the kids Christmas etc. The sad thing is, with the credit crunch still upon us they can only get more custom:(
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The sad part of it all is that there was a bit of a fanfare for the opening of this shop which really seems to market itself as the place that gives people the chance to buy nice things. The truth is that they aren't really looking to make things easier for people to buy nice things, they are looking to make big money out of people that have very little money. In the ideal World they will do better than that, they will sell things to people who can't pay and will default on their credit agreements. Then the real power comes.
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I would have said exactly what Anne has just said, its so sad that the mums and dads feel they have to keep up with the Jones's and the kids do too,
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Where is it?
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On the opposite corner to Debenhams in the High Street.
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i think the word "con men" comes to mind to me.
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I agree but I suppose they are pricing their goods based on the risk they are taking with their customers. ie: how many default on payments?
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Well it depends which way you want to look at it. Are they pricing based on risk or targeting the risky?
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Both I think Keith. They target those who are higher risk and then make them pay for the things they really want. A bit like Sky did when they first started out.
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I hate to see stores like these, I know its each to their own and people have the choice to buy in these places or not, but a lot of the people that do, do not look at the APR % and do not realise (or understand) what they are paying back. Ive been there, been silly, and im paying for it now, not with a store like this, but just as bad, store cards, bank loan, catalogues, my APR on some of my store cards was 32% but at the age I was when I got these out I didnt think of the paying back, I just wanted the items I was buying. I was a very very silly girl, who has learnt a lesson the very hard way. I now work full time and then I work all weekend in my dads black cab to pay back my debt. I was lucky, as I confessed to my parents, they were not happy at all, and I wont repeat the words that came out of my dads mouth, but they paid off my debt, on the condition that I pay it back to them quickly. I think they thought it would take me 2 years, but ive been paying them back for 10 months now and I only have 3 months worth of paying back to do, and they are now very proud of me as i have proved to them, that I have learnt my lesson (im very scared of 'credit' now) and how hard ive worked to prove to them. My social life on the other hand is nonexsistant but this is the price I pay for the sillyness i got myself into. When Im out of debt in 3 months :) :) I will stop driving the cab at the weekends, but I wont give up my license because it will always be handy for money for DIY/Holidays/emergencies etc. But I have learnt my lesson, and plus my own stupidity ive wrecked my credit history, so for around 6 years I can not get credit, luckily I have my house and my mortgage and that is all fine, but it could of been so much worse. Silly me! so my opinion on Bright house is they should all be shut down, some people do not know or understand what they are getting into.
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Brilliantly put Nuttybird
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Well said Nutty! Some people do not know what they are getting into and the warnings should be much clearer imo.
I particularly hate the 'loans for car owners'
You own your car
You go to them for a loan
They lend you money against it's value and you sign it over to them (I guess)
They charge you interest in the region of 435%apr -
YES 435%
http://www.auto-money.co.uk/welcome/
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Thanks guys. It was actually quite theraputic typing all that out, shows the long road ive come since my shopping habit days!
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Easy to do Nuttybird - well done on turning it around. I have just looked at Bright House website = I can not believe the prices, they are just plain silly. Several years ago Mr Pookie was taken very poorly and couldn't work for almost a year. Previous to that we had both been earning good London salaries and lived the life of riley - all on credit cards and store cards. Then, when Mr Pookie couldn't work, we got in real touble paying it back. Several years on, and several years wiser, we now buy nothing on credit, we don't own a credit card and I will not buy 'that' new telly, or 'that' new suite until we have the money in the bank to do so. We are very often tempted to get another card (if only to spread the costs of flights ! - but we just think back to the pain they caused and realise how easy it is to get carried away. We will never give in again !!
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It's like Cash Converters the stuff in there, particularly the jewellery is very cheap, which makes you wonder what they have paid for it and still they are making a profit selling it. The Manageress of the Cancer Research Shop took a really good camera that had been donated, across to Cash Converters and they offered her £15.00 for it. She took it back to the shop and sold it for £75.00.
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Scunner - I really don't see what the problem is. We do have various consumer guidelines and legislation in place to try to protect the general public from their own stupidity, but where do you draw the line. Tesco charge £1.00 for a lettuce, Waitrose offer it for £1.35. Should that be illegal? I choose to go to Tesco, many people obviously prefer Waitrose. Why on earth do they do that? Convenience, snobbishness, better quality, "green" credentials? Whatever - retailers don't hold a gun to your head and force you to buy either way! You do your research, and you make your choice - as long as you have all of the facts, I can't really see what more you can ask for.
stoop - how do you know they charge 435% - oh yes, there it is on the front page of their website for all to see along with the other basic conditions of their business, as required by law. So, what further warnings do you consider need to be given? The trouble is, many consumers wouldn't know what an APR is if it was stuck up their backside.
nuttybird & pookie - you freely admit that your past problems were caused by your own lack of self-control and that you've now learnt your lessons and emerged as better people. Isn't that how life works?
I don't have a 46" plasma 3D television because I don't buy the hype that it (or a flashy car/mobile phone/watch/clothes/wife(!)) will make my life more fulfilling. We live in a society where we are sold consumer dreams, and if some people are gullible enough to overstretch themselves in the pursuit of this retail nirvana, then I certainly won't lose any sleep over their predicament.
I'm more worried about those poor little kittens.............. but only just.
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If you believe in the free market economy then you have to accept that people will buy from places that best suit their circumstances. I do believe in it and with that places such as this will exist. What I don't like is the very specific plan to target the most risky people then use risk to justify the vastly inflated prices.
It is almost business by entrapment. Yes the people doing the buying should make it their business to learn more about it but again part of the business plan is to target those least likely to. It is one thing to sell nice things to people but quite different to sell nice things to people who really can't afford the nice things. Making nice things obtainable to people that can't afford them should not be seen as acceptable. The loan shark is no longer seen as acceptable in modern day Britain. So why is making tenners available to people who can't afford them not acceptable, but making tellys available is?
The varying price of a lettuce in Tesco or Waitrose has very little relevance - unless there is a place where those who really can't afford a lettuce can buy one at 10p a week for 3 years?
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Well, I understand what you're saying Scunner (and I think you accept part of my reasoning), but I'm obviously a little more jaded than you and have a far more cynical outlook on the free market and advertising.
The psychcological tools used by advertisers nowadays are very sophisticated, and seem to revolve around alternatively making us feel inadequate, selling unattainable dreams and gaining our trust with a soft Scottish voice-over. "We're good with food" - what the frig does that mean? And do you really think McDonalds give a frig about your childs nutrition - no, they're just jumping on the 5-a-day bandwagon.
I mean, guys nowadays moisturise! When did that become necessary?
If you drink tap water you're gonna die a horrible death! Blimey, I drink water straight out of the tap (well, via a glass) in Turkey, and I'm still here.
People can't walk more than 100 yards without feeling the need to hydrate!
Wake up, suckers!
Sorry....what was the question?
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I feel inclined to agree with rpg - in this over-protective nanny state, individuals have fewer opportunities to learn by their mistakes, (which is the most effective way to learn as demonstrated by nuttybird) and will continue to be influenced by the media and not consider the consequences. We have to take more responsibility for ourselves and think harder before acting. It's so easy to be a complete idiot these days and then blame someone else ......."I was given the wrong sort of ladder...."
PS
Love the "can't walk more than 100yds" example - that drives me mad - see so many walking around a cool office with a bottle of water glued to their hand :D
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I agree with rpg too, but it doesn't cover the fact that I am trying to make, which is that it is dubious to point to risk as justification for high prices when risky customers is what you set out to attract. The other point I was making is that it is difficult to justify a society in which the poorest people pay the most for things.
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Well, I'm not sitting on the fence here and I do see Scunner's point about using risk as justification however,the fact is, people are often unaware of the subliminal messages the media are sending out and they fall into the "desire" trap - I think I'm right that most of the items purchased in this store are those of desire not need.
If people lived within their means and didn't fall into this trap then there wouldn't be a market for Brighthouse.
Their customers choose to go there as it is probably their only means of getting the object of their desire - that's up to them - we know what's going on so why don't they?
Maybe they do know but don't care? Perhaps what happens as a result of not paying up does not seem too bad to them?
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ps
"difficult to justify a society in which the poorest people pay the most for things."
A whole new topic there that I (and probably many others here) would love to comment on Scunner but will have to be later.....must finish my work and stop nosying on here! Look forward to picking up the thread later as I'm sure there will be a lot to read.
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Well you make some very interesting observations and the one that is most interesting to me is that you see that people are not living within their means when they use shops like this to buy things. It is also possible that the very existence of shops like this brings the notion that the items they sell are now very much within their means. As can be seen in this topic, it is not agreeing to buy with credit that is the life changing action, it is the inability to repay it that serves to give the purchaser the chance of a wake up call. The people giving you the ability to buy and the credit agreement to do so will convince you it is very easy, but they will know that is not the truth.
You have to fall down a hole to know for sure that falling down holes really hurts. Until then they can all seem easy to jump over.
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Have watched this thread with interst.
quote:
Originally posted by Scunner
Well you make some very interesting observations and the one that is most interesting to me is that you see that people are not living within their means when they use shops like this to buy things.
A lot of the people that use Brighthouse are either on benefit or on minimum wage. It is probably their only means of credit. What are they supposed to do when as in Scunner's case, had twins and had no bed for them to sleep in when they got too big to share a cot? Believe you me in some houses in the UK drawers are still being used as beds no matter what the Gov say! When they signed up maybe 9 months ago things were fine and they had no problem with their repayments. With the price hikes we have had since then its a different matter now they cannot afford the re-payments!
Not everybody has a crystal ball.
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quote:
Originally posted by cheers
What are they supposed to do when as in Scunner's case, had twins and had no bed for them to sleep in when they got too big to share a cot?
I've had good times and bad times but I don't remember that :D
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Cheers,
I understand what you are saying and am truly sympathetic with real cases of need but there is a big difference between "need" and "desire" and my bet is the bulk of the business is based around luxury items eg whacking great big TV's and american freezers.
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We also have another shop, it's very large and opened quite recently selling second hand furniture. Nearly all of the stuff in it is superb, as are the prices. More often than not the label on the items says "SOLD" - they get very good quality things in, they price them to shift them and they do indeed shift them.
So when people say that places like Brighthouse are the only option for some, it isn't true. I had some right old tat when I first got my own place and as I understand it, everyone's parents only had tea chests to sit on when they first got married.
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quote:
Originally posted by Scunner
.... it is not agreeing to buy with credit that is the life changing action, it is the inability to repay it that serves to give the purchaser the chance of a wake up call. The people giving you the ability to buy and the credit agreement to do so will convince you it is very easy, but they will know that is not the truth.
If this store is giving people the ability to buy albeit at grossly inflated rates and perhaps when everywhere "reputable" has turned them down as a bad risk, then surely the purchaser has to take some responsibility for the decision knowing that they may not be able to make the payments - despite all of the sales pitch.
I wonder if some have already tried jumping the hole and have become impervious to the pain?
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Ok then, shouldn't the store who gave people "the ability to buy albeit at grossly inflated rates and perhaps when everywhere "reputable" has turned them down as a bad risk" take some responsibility for the situation, when it goes wrong, too? :)
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I agree with you Bluewise and Scunner in what you are saying. We have a lot of charity shops here which do sell good quality furniture and as quick as it comes in it goes out! But unfortunately you need CASH and be there at the right time! No CASH = CREDIT!
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Something always got me when I tried to advise about life insurance to those who had dependents. It always amazed me that they would refuse to protect their loved ones yet they had the latest TV and Sky as well as a nice car etc etc.
My motto was and still is that some people will always afford the things they want before the things they need.
Desire is a big motivator.
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Many ways to look at this!
Maybe some of them did have a 'Crystal ball' and could see what was to happen to insurance policies and their pay outs! PPI comes to mind!
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quote:
Originally posted by Scunner
Ok then, shouldn't the store who gave people "the ability to buy albeit at grossly inflated rates and perhaps when everywhere "reputable" has turned them down as a bad risk" take some responsibility for the situation, when it goes wrong, too? :)
Have to agree on that - fair point ;)
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quote:
Originally posted by cheers
Many ways to look at this!
Maybe some of them did have a 'Crystal ball' and could see what was to happen to insurance policies and their pay outs! PPI comes to mind!
I'm not talking about investments but plain and simple insurance protection with no investment content. You know - the type you HAVE to take out if you have a repayment mortgage for example.
As for the 'crystal ball' if I had £50 (or any amount really) per month to save for the last 25 years I know where I would have saved it... and it wouldn't be the bank/building society or under the bed. A good with profits endowment would be returning about £51k compared to about £23k in the average building society account. Not bad for £15k investment - even though it is much much less than they were paying out 5 or 10 years ago. The tricky bit is choosing the right company to invest with.
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quote:
Originally posted by Bluwise
quote:
Originally posted by Scunner
Ok then, shouldn't the store who gave people "the ability to buy albeit at grossly inflated rates and perhaps when everywhere "reputable" has turned them down as a bad risk" take some responsibility for the situation, when it goes wrong, too? :)
Have to agree on that - fair point ;)
Bluwise, I'm devastated - I thought you were on my side!
Anyway, continuing, this from the BrightHouse site.........
our vision...
"We strive to add value to people's lives...every day"
Life is full of possibilities, and we'd all like to think that we at least stand a chance of getting the things we want. Some people are not always able to do this without help, and this is where BrightHouse comes in, offering opportunities for everyone to own the things they want.
........now come on folks, what's not to love about this store?
BrightHouse are smart and don't use the manufacturer's model numbers on their website, they make up their own, so it's a little difficult to make direct price comparisons. However, I could identify a Whirlpool washing machine that has a retail price of £329.99, Amazon sells it at £289.99 and Brighthouse at £351.10. It didn't take me long to search that out, and I'm not that smart. So, there's clearly no doubt that their cash-and-carry prices are completely uncompetitive. No argument there!
The point I've been trying to make all along is that they're doing nothing illegal. You can sell stuff and charge interest at whatever level people will pay, as long as you're transparent in your dealings and adhere to the law.
Whether it's immoral and we need to protect the innocent is another matter - cue the next stage of the nanny state.
I see examples every day of so-called reputable companies hood-winking the public; if I sign a maintenance contract with them, British Gas will "commit" to visit my home to start repairs within a certain time-frame.......................unless it's a weekend..........unless it's a Bank holiday..................unless they're busy. WTF!
My building society's current mortgage rate is 3.99%. Can I get a mortgage that starts and stays at this standard variable rate? Yes, but only if I pay a "product fee". WTF! I don't care what they call it - you borrow X and pay back X+Y - to me, Y is interest. How do they get away with that one? If I want a bog-standard repayment mortgage with no fees and no significant penalties it'll cost me 5.49%. Stick it where the sun don't shine, Cheltenham & Gloucester!
All of big business hides behind technicalities, small print and disclaimers these days, and if you can't be bothered to read and understand them, then that's your lookout!
That's not to say that there aren't fair deals and bargains out there - trouble is, many of them are "not available to existing customers". WTF!
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I suppose it's no different from the old style (and still available -Littlewoods etc) catalogues that my mum and many others used to buy stuff from many many years back. You get your goods but pay the price for weekly/monthly payment plans.
Glossy and full of nice things we all want - no different to Brighthouse I guess.
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I think more people should visit their local Auctions. Some of the bargains are unbelievable. Often when a house has been cleared, say when someone has died the amount of new stuff that has never been used is amazing and as lots of us people at the auction are interested in Antiques, the household stuff goes for peanuts. For example colour T.V's for £15.00. Duvets still in the box £2.00. Sets of sheets still in the wrappers £1.00. Electric kettles still boxed £3.00.
I, personally have never bought a new garden tool for 20 years. I can buy a bundle of tools i.e. hoe,rake,spade for £1.00.
So, there is an alternative for people who buy at Brighthouse ;)