There’s A Sucker Born Every Minute

So my wife’s father is an employee at a local rent to own store.  As such, my wife has always felt obligated to maintain an account there.  Since we have no interest in the quality of rent to own furniture (especially when I was 200 lbs heavier), the only real way to do this was to keep a small loan open through them (about $500) that we refinance every few months (usually spending the money on something that one of the kids want).

So I was in the aforementioned business the other day and noticed that they had some laptops, PS3/Xbox 360’s, and a couple of off brand tablet’s.  Being a bit of  geek myself, I decided to look at them and see what they priced them at.

I was shocked.  The laptops were, after all payments made, about $1500, the PS3 and Xbox were about $800 each, and the tablets (worth only $250) were about $900 each.  The tablets in particular seemed to be priced to exploit an uninformed customer wanting a vanity purchase.  But every single one of those electronics items could have been purchased for the same $500 loan that I was making a payment on, had the cash then been taken down to Wal Mart.  Instead, people were getting stuck paying a 200% to 300% markup, all because of their own lack of insight.

And THAT, my friends, is where the term “there is a sucker born every minute” comes from.  In any event, my father in law will be retiring soon enough, and I can then remove myself from the ranks of “sucker” as well.

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