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Isn't there an ethical question, then, with preying on such people? If, as a business owner, you know that all (or many) of your customers are overextending the

by plorg 12y ago

Isn't there an ethical question, then, with preying on such people? If, as a business owner, you know that all (or many) of your customers are overextending themselves and ruining their finances, is it ethical to continue preying on the insecurities and shortsightedness that drive such poor decisions?

bmelton 12y ago
There are non-predatory means for wanting to rent furniture. From my own experience, we were selling a house that we'd moved out of, and having a hard time finding a buyer. Realtor suggested 'staging' the home, filling it with furniture, as a full home looks more lived in, and gives buyers an easier time imagining their own furniture in place of yours. Went to rent-a-center, rented a living room and dining room set and a bed for the master, and the home sold rather quickly thereafter. Though I couldn't say whether or not the furniture had anything to do with it, the renting of furniture is, by no means, predatory on its face. That people are renting furniture to own is the problem. There are numerous other options, including Craigslist, buying used furniture, or even layaway are all superior to rental.
- plorg 12y ago
  I don't disagree that one is better off buying used furniture (if and when it can be acquired in good condition) if new furniture is too expensive to buy. However, if you are a businessperson offering to rent furniture, and if you believe that there are non-predatory reasons to rent out such furniture, then shouldn't you be targeting such rental purposes? If renting to own is the problem, then perhaps you shouldn't offer rent-to-own. Or, if a credit check is enough to rule out customers who are unlikely to pay, perhaps there should be a credit check. I am sure, in your case, you would have been able to pass such a check. I simply do not believe that a renter can benefit from usurious rentals and be absolved of moral burden because the renter 'should have known better'.
  - bmelton 12y ago
    Except that rent-to-own is beneficial. Couches are fairly durable, but nowhere close to infinitely so. Eventually, a rental furniture place has to either sell or dispose of the couch and replace it, presumably after having extracted the maximum value that they can. There are also plenty of benefits for renting to own. I know a couple of startups on the east coast who rent furniture to own, specifically the lobby stuff (moreso than the actual office equipment) because 1) They were able to negotiate better than the listed prices and 2) it's potentially cheaper than hiring an account and/or figuring out the excise and use taxes on the assets. Just because there are predatory use cases doesn't make the practice predatory ut totum. Also, nobody's compelling people to buy furniture they can't afford.

by plorg 12y ago

bmelton 12y ago

There are non-predatory means for wanting to rent furniture. From my own experience, we were selling a house that we'd moved out of, and having a hard time finding a buyer. Realtor suggested 'staging' the home, filling it with furniture, as a full home looks more lived in, and gives buyers an easier time imagining their own furniture in place of yours. Went to rent-a-center, rented a living room and dining room set and a bed for the master, and the home sold rather quickly thereafter. Though I couldn't say whether or not the furniture had anything to do with it, the renting of furniture is, by no means, predatory on its face. That people are renting furniture to own is the problem. There are numerous other options, including Craigslist, buying used furniture, or even layaway are all superior to rental.

plorg 12y ago
I don't disagree that one is better off buying used furniture (if and when it can be acquired in good condition) if new furniture is too expensive to buy. However, if you are a businessperson offering to rent furniture, and if you believe that there are non-predatory reasons to rent out such furniture, then shouldn't you be targeting such rental purposes? If renting to own is the problem, then perhaps you shouldn't offer rent-to-own. Or, if a credit check is enough to rule out customers who are unlikely to pay, perhaps there should be a credit check. I am sure, in your case, you would have been able to pass such a check. I simply do not believe that a renter can benefit from usurious rentals and be absolved of moral burden because the renter 'should have known better'.
- bmelton 12y ago
  Except that rent-to-own is beneficial. Couches are fairly durable, but nowhere close to infinitely so. Eventually, a rental furniture place has to either sell or dispose of the couch and replace it, presumably after having extracted the maximum value that they can. There are also plenty of benefits for renting to own. I know a couple of startups on the east coast who rent furniture to own, specifically the lobby stuff (moreso than the actual office equipment) because 1) They were able to negotiate better than the listed prices and 2) it's potentially cheaper than hiring an account and/or figuring out the excise and use taxes on the assets. Just because there are predatory use cases doesn't make the practice predatory ut totum. Also, nobody's compelling people to buy furniture they can't afford.