Complaint Review: Sears/Kmart

Borrower beware. Unfortunately, if you don't read the fine print (if you can find it), you will pay much more than you'd ever imagine for what you bought initially. In my case, I bought a $150 bike for my daughter and few small appliances ($205 total) and thought wow, I can pay $19.91 payments for 5 or so months and have it paid off. Great deal right?! Wrong. It turns out that you are "leasing" it and after you pay the lease payments you have to buy out your lease. Here is where they get you. They use a formula to determine the present value of what you have. In my case the total cost of the leased items was around $205. I paid nine payments of $19.91 ( $179.19 total) and then had to buy the lease out for $170.05. So it cost me $144 more than if I had just bought the items outright at the store. Never again will I fall for it. But it only gets better...per their terms, if you don't call them to buy it out or return the items, they can charge you up to 36 lease installments and you still have to buy it out. If it sounds to good to be true...