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The worst part of this is the implied threat that failure to make payments will result in your beloved dog being taken away from you. They didn't say it in the
by downandout 10y ago
The worst part of this is the implied threat that failure to make payments will result in your beloved dog being taken away from you. They didn't say it in the article, but I would bet almost anything that the company that gave them a $75 million credit line believed, probably correctly, that default rates will be lower than average because of this threat.
The repossession of a car might result in some inconvenience. The reposession of a dog will almost certainly result in severe emotional distress, especially since many people consider their pets to be their children. Not cool.
- JoeAltmaier 10y agoEven people that just rent them? I'm thinking that's a self-selecting demographic, that operates a little differently. They lack commitment for instance. Probably not terribly uncool after all.
- TeMPOraL 10y agoPeople do get attached with time though. Especially when the emotions are high, which seems something the company selects customers for. I remember when I was a teenager and my mother bought us a cat. Until she came home with it, my reaction was "why don't we spend cat food money on a better Internet connection instead?". After it started living with us, I attached to it very quickly and couldn't imagine it not being there. (In fact, that cat died recently. It was a hard emotional moment for myself and my whole immediate family.)
- JoeAltmaier 10y agoI'm so not surprised about the internet part. Just from what I can learn from posts on HN. We also have had cats. The boys are long grown and off, and there is a row of stones in the orchard representing valued family members Frekls, Salm and Francis.
- downandout 10y agoThey aren't "renting" them on purpose - as the article says, most people don't understand that they are signing a lease. In fact the only reason these transactions are structured as leases is to get around usury laws. It is effectively a loan with a very high interest rate - so high that it would be illegal in most states if it were called a "loan".
- maxxxxx 10y agoThe dog will have serious distress. Renting out dogs and repossessing them is plain animal cruelty. The people have a choice but the animal doesn't.
- JoeAltmaier 10y agoGood point! I'm convinced.