johnbgood
Mansfield,#2General Comment
Thu, April 25, 2013
... you sound like a RAC employee trying to justify his employer's greed and dishonesty. They mark a used 50" TV - most likely a low-end Toshiba or LG, given that it's RAC - up to $3200 and you call that "market value?" Unless the RACs in Montgomery are considerably more upscale than the ones in my neck of the woods, they don't have a TV in the store that's worth half that much new in the box, much less used. That may be RAC's selling price, but a quick trip to Best Buy (or any other "big box" electronics store) will quickly disabuse you of any notion that it's in any way "market value."
The Truth Is
United States of America#3General Comment
Sun, December 02, 2012
When you signed up two or three years ago, there was an agreement you signed. When signing was complete, the sale was on the books. Over the years, you paid toward that book cost of your product. If you were to continue renting the merchandise, additional money would be deducted from the left over cost of the product.
From what you are saying, you failed to meet the terms of your contract so there were additional fees to reinstate the agreement. You see, most rental contracts expire for non-payment. That is the case here, when your agreement expired, the owner has the right to repossess the property and rent it again.
Much like what happens with rental cars, you found out that this company has marked thr furniture fot sale at its market value rather than the book value that you had left. The same thing would take place for a home that is rented-to-own. The new agreement would be set up at the highest price that the market can bare. The new owner would start at the place you did and the cycle continues until there is no market value left.
This type of transaction will be the kind we can expect to increase as finance rules set up by regulatory institutions increase. There is much greater risk for a company to loan money to a customer for merchandise. The rental industry helps folks who cannot otherwise get things they want.
Sparklez
Austin,#4UPDATE Employee
Mon, January 22, 2007
I'd go to another store. They are not suppose to do that. Or call that main number 1800#