Do rent-to-own centers help or hurt low-income Vermonters?

Source: WCAX.com,  April 8, 2011 “The rent-to-own business is booming. Everyone is preapproved and there’s no credit check required. “We allow customers to come in and get nice things for their homes that they might not be able to afford normally,” said Jeremy Doria, a district manager at Aaron’s. Unlike most retail furniture stores, customers at Aaron’s and other rent-to-own stores can spread out their payments over time. But like any lease agreement that luxury comes with a cost. “You can pay the cash price today which is the $1534.88. If you choose not to do that you can pay it off in a 120 days same as cash,” Doria said of a furniture set. And if you lease over 18 months, you will end up paying about $1,000 more for this furniture set. Rent-to-own businesses say that markup pays for their overhead and keeps them afloat. “They are welcome to stay in Vermont, it’s just let’s bring it out in the open,” said Rep. Sarah Edwards, P-Brattleboro…” Full Story and link to video: Do rent-to-own centers help or hurt low-income Vermonters?

#VT

1 view0 comments

Recent Posts

See All