rent-to-own stores
Question
Purchased a tv from a rent to own company but didnt sign a contract for it?
My kid sister calls me up this morning and tells me that she is having some trouble with one of those Rent-to-Own places. So, she tells me that she went there back in April and got a tv from them, plasma, and the store was almost closing and they just loaded it up in the back of her car and told her that no payment was due until the beginning of next month and that they would just get her to sign the paperwork then... Well, she wasnt aware of how those types of places work or something..but she says that she has paid 10 months worth of payments that have covered the intial "cash price" of the tv and the store says that she still owes $2000 more b/c of their fees or whatever. But, she never signed a rental agreement and has all the receipts to proove that she has covered the cost of the tv before all of the extra fees? What should she do? Anyone?
12 months ago - 4 answers
Best Answer
Chosen by Asker
She owes for the reasonable cost of the service she has used. So she is probably paid in full. Many times people say that they signed nothing , but later realize that they did sign something. That is the wild card..
by Ed Atun
11 months ago
Asker's Rating: 
Other Answers
Right. Rent to own, you don't get "interest free payments". When you buy something on a rent to own basis, you end up paying at least five times the initial cash price. That's how they make their money. And if you skip any of the payments, they come and take it back, and you don't get ANY refund. The initial cost of the tv, she only owns it, if she pays that IN FULL, at the time she gets the tv. Otherwise, she pays rent to own amount - which clearly, is $2,000 more. You do NOT get interest free payments at the rent to own places. She needs to either keep paying, or turn that tv in. Me, I'd turn the tv in, as $2,000 will EASILY buy another plasma tv, with change left over.
by mbrcatz- 12 months ago
If there's no agreement, she doesn't have to ever pay them anything and the TV is hers. There are strict rent to own laws in all states! When she got the TV in her car, it became her posession. If there was no rent to own contract signed, there's nothing the store can do to get her to pay any more money. Their mistake was not having her sign any kind of documentation. Without her signature, they are plain out of luck.
by Realtor in CA- 12 months ago
a; TAKE IT BACK b; she had a verbal aqreement; quite enforceable! c; I asked ahead of time about a Mac I was going to rent and 4 payments would have bought it mathematically but with them, as an expert said, they wanted 16 payments. I never did any biz with them. sorry she got an expensive lesson [plasma--how about a nice 21" inch for $150?]
by kemperk- 12 months ago