Barnardo's say rent-to-own stores are crippling the poor
Top charity Barnardo’s has hit out against ‘rent-to-own’ suppliers of household appliances, claiming that they are exploiting low-income families who are forced to use them in order to get much-needed ‘stuff’.
The charity has called upon the OFT to address the rent-to-buy sector, which includes chains like BrightHouse, describing it as “morally bankrupt”, and claiming that some consumers are paying up to 150% more than they would elsewhere for some standard household appliances.
They quoted an example of a three-year rental agreement costing £1,074 for a fridge freezer that would normally cost £430 on the High Street. Barnado’s are proposing that stores like BrightHouse should display the equivalent High Street price of their products and make the interest rates more clear.
What do you lot reckon? Do people who rent-to-own deserve everything that’s coming to them, as they strive to own things that they neither need nor can afford? Or should we be easier on them, and treat them with kid gloves, by putting up signs that explain to them just how they’re being shafted. Your thoughts below please...