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A15G

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I have a friend needing a computer badly, he doesn't get a good income and asked me for help.

I've heard of those Rent To Own deals and the No credit check, no interest fees if paid in full for a certain amount of time they give you.

Can anyone vouche on this and if possible let me know if you've ever dealt with a site like it and was legit and professional?

Pretty much just buying the computer, then paying it off monthly for XX amount of months etc etc. Without credit checks, etc etc.

I'd like to help him and make life easier.
 
Any "deal" like that should immedietly raise red flags. His best bet would be buying a $200 PC off craigslist.

I remember seeing one that was $25/week to "rent" a PC... the total value for the PC was probably about $400, and after just 32 weeks you owned it (AKA, you paid twice its value)
 
Rent to own is horrible idea. Everyone of them I have seen you end up paying 2 to 4 times the actual computer cost.

Why doesn't he just save $10 - $20 a week till he can buy a cheap craigslist computer? that is going to be the best way.
 
What's he need it for? If it's just for basic things, tell him to get an older Dell P4 or something off craigslist. They're not pretty, but they're cheap as shit and will get the job done.
 
if there is a university around, look for a surplus store. Mine has optiplex machines that are s775 and ddr2 based. Plenty of speed for now, and upgradability in the future.
 
craigslist or ebay if not the local thrift store. A lot of people give their unused stuff to local charities and you can get amazing deals there.
Heck if you really care for him, get him a PC and then ask him to pay you back "rent to own" but no rip-off.

Dell Financial Services sells off-lease desktops/laptops/monitors on Ebay.
http://www.ebay.com/sch/dell_financial_services/m.html?_nkw=&_armrs=1&_from=&_ipg=&_trksid=p3686

Noticed Dell Latitudes going for $150.

Also checkout dell outlet for Dell netbooks. Lookout for coupons which come every week.
 
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I have a family member who is the store manger at a well known rent to own place.
He routinely tells me that these people could save for 4-6 months and buy most of that stuff cash.
Miss a payment, and they come after you like a helpless dog. You don't want that kind of harassment.

I would go on CL also, and buy a cheap PC from there.
 
aviat72 said:
Noticed Dell Latitudes going for $150.

Also checkout dell outlet for Dell netbooks. Lookout for coupons which come every week.
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Hell, there's a D531 going for $76. That's a damn good deal if you MUST have a computer. Free shipping on laptops, too.
 
Never been in a rent to own place, and I'm sure if I did I'd feel so out of place. It's modern day legalized loan sharking. And the refuge of people who are so terrible with money or credit that IMO they deserve the harassment they get if they are stupid enough to sign up for such a deal.

If one is so terrible with credit or money that they have to finance a computer worth almost nothing at 200% to 300% of value, I would question every life decision they have ever made up to this point.

Same goes for those "Pay day advance" places.

Even if your friend truly has zero income -- tell him/her to go use computers at the public library. Or (and I'm making an assumption) if they smoke tell them to quit for six months, at which point they will have more than enough to buy one of those refurbished models off dell or microcenter's website. Not to mention be healthier.

Other alternatives -- tell them to save 5 dollars a week. Skip the big mac, pack of smokes, or don't buy that six pack of beer after work. However if you go the "rent to own" route they will pay many times than they should, for a piece of crap.
 
collegeboy69us said:
Never been in a rent to own place, and I'm sure if I did I'd feel so out of place. It's modern day legalized loan sharking. And the refuge of people who are so terrible with money or credit that IMO they deserve the harassment they get if they are stupid enough to sign up for such a deal.

If one is so terrible with credit or money that they have to finance a computer worth almost nothing at 200% to 300% of value, I would question every life decision they have ever made up to this point.

Same goes for those "Pay day advance" places.

Even if your friend truly has zero income -- tell him/her to go use computers at the public library. Or (and I'm making an assumption) if they smoke tell them to quit for six months, at which point they will have more than enough to buy one of those refurbished models off dell or microcenter's website. Not to mention be healthier.

Other alternatives -- tell them to save 5 dollars a week. Skip the big mac, pack of smokes, or don't buy that six pack of beer after work. However if you go the "rent to own" route they will pay many times than they should, for a piece of crap.
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Not everyone who has bad credit is foolish with money. Bad things happen to good people.
 
KatalDT said:
What's he need it for? If it's just for basic things, tell him to get an older Dell P4 or something off craigslist. They're not pretty, but they're cheap as shit and will get the job done.
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The problem with that is that some sellers want far more money than what that older machine is worth. Even $200 total for that P4 is too much, IMHO, especially when one can get a far more up to date PC for not much more.

And the P4 might not be able to run even up-to-date antivirus or antimalware software at all because the most recent OS supported by that PC is now no longer supported by Microsoft (or whichever OS publisher or developer, if it's a flavor of Linux).
 
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Go to Walmart and use the holiday lay away they have going on. I was in there a few days ago and they had a decent pre built for $278
Athlon 2 x2 2.6 ghz
500gb hd
3gb ddr3 RAM
Dvd burner
Windows 7 home
Mouse and keyboard
That's pretty darn cheap.
 
If you go to rent a center you will get raped hard in the long run. They will sell you the sane pc that Walmart has and it will total $600+ I guarantee it.
I've used rent a center once when i had to send back a xbox 360, I paid like $24 for a week when the console was $299 new at the store
 
Going into debt over something stupid like a computer is stupid. If he can incur debt but can't save up money to just buy the computer, he is an idiot, and there's no wonder why he has a shitty income. Save, then Craigslist.
 
yeah there was this big article that warned against these type of purchases.

Like the Wallmart and Kmart Layaway plans.
They are pushing so that these stores advise the public on the same advertised sign about the interest rate hit and other penalties you can get hit with.

I would wait till after Occupy Wall St...LOL
 
At least layaways don't let you have the product until you pay for it. This is much better then getting a product and going into outright debt. Still stupid, though. The same thing could be accomplished by saving money yourself. Going into debt teaches no one about how to manage money.
 
Responsible use of credit is as important a financial skill as there is. While too many people go into debt irresponsibly, and I've been in that crowd myself, many people and businesses have made fortunes by using debt wisely.
 
grimster said:
Going into debt over something stupid like a computer is stupid. If he can incur debt but can't save up money to just buy the computer, he is an idiot, and there's no wonder why he has a shitty income. Save, then Craigslist.
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It would probably be safe to say, a lot of people here buy stuff with a "credit card", and it doesn't make them an idiot. I use cash btw....because I don't own a credit card and don't use credit for much of anything. it doesn't make me any smarter or better than anyone, just more fortunate.
 
WorldExclusive said:
I have a family member who is the store manger at a well known rent to own place.
He routinely tells me that these people could save for 4-6 months and buy most of that stuff cash.
Miss a payment, and they come after you like a helpless dog. You don't want that kind of harassment.

I would go on CL also, and buy a cheap PC from there.
Click to expand...


CraigsIist would not repeat NOT be my first choice to buy a grunge/cheap PC - too easy to get ripped off with zero recourse. I'd do a search for "recertified" on TigerDirect and also Directron (TigerDirect has an IBM 8183 for $99.98 and Directron is even cheaper) I don't know about shipping for either of these deals though.

But at least you're dealing with a company, you can probably get an extended warranty for a few bucks (if you care about such) and best of all - you can return the thing if it dies within the "non-doa" warranty period. You can't do that on CraigsList - and there are too many "sharpies" on CL who want nothing more than to make a buck off you. Not everyone, but too many. (do a search on CL for 'hp 2311x monitor' and you'll see why the $79.99 deal for them sold out at Staples before you could get one - no I didn't get one either)

good luck helping your friend
 
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Debt is a horrible system, and anyone who doesn't understand that cannot be as intelligent as someone who does.
 
grimster said:
Debt is a horrible system, and anyone who doesn't understand that cannot be as intelligent as someone who does.
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This is overly simplistic. Plenty of people have used debt wisely over the eons to get ahead, build successful businesses and buy homes that appreciated more than the interest paid on their loans.

Like any tool, debt isn't good or bad, it's how it’s used that determines its effect.
 
It's bad because it relies on money to be printed out of thin air. Getting ahead from debt is screwing over someone else in the end.
 
grimster said:
It's bad because it relies on money to be printed out of thin air. Getting ahead from debt is screwing over someone else in the end.
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Who prints money when some takes out an auto or home loan? Banks and other institutions and individuals have excess capital which they lend, its not printed. Normally governments instead of printing money borrowing from those with cash as well, from foreign countries buying billions in treasuries to the guy who buys simply buys a savings bond. If money were simply printed there would be no debt but hyperinflation.
 
Uhh, there IS hyperinflation. What do you think quantitative easing is? Money doesn't have to be literally printed in a press, either. It is usually just lent to banks digitally, out of thin air...that's where your mortgages and crap come from.
 
grimster said:
Yeah, OK, just wait pal. I'll be using my paper monies to burn for heat.
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I didn't say it was NEVER going to happen but certain people have been talking about it for a long time and they have been as correct as those who have predicted the end of the world multiple times.

The conditions for it simply don't exist in the US. There are no broad based base material shortages though their are pockets here and there. There's TRILLIONS in capital that are just sitting. And there are broad based pockets of underutilization in the general economy.

Now there could be waves of panic or lack of investor confidence that could trigger bad things but even in our current environment the US have no problem selling debt, people and institutions with money throughout the world certainly don't seem to fear hyperinflation anytime soon.

I'm not macro-economist but I don't see how hyperinflation can occur with tons of spare cash (at least by corporations and wealthy individuals who have the bulk of the wealth), tons of underutilization and the lowest interests in our lifetime. These all things simply wouldn't exist in an environment of hyperinflation or even fear of it.
 
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