Brighthouse - The Store That Prospers in Bad Times

[Bluwise]

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.

[Scunner]

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.

[Bluwise]

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?

[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?  

[cheers]

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!

 

[stoop]

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.

[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!

[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

[stoop]

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.

[rpg9000]

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!