We should all know by now that rent-to-own plans are nothing short of vicious wallet rape for the mentally and creditally challenged, but just in case the lesson hasn't quite sunk in yet, observe this ad from renter-retailer Kelly's. After a mere 12 monthly payments of $79, you could own a $250 Nintendo Wii! Given that 12 x $79 = $948, the sad populace who takes advantage of such a "deal" will find themselves out $698 in games, accessories and pride.
Kelly's Will Rent-To-Own You This Wii For $948 [Consumerist]










Comments
Anyone stupid enough to do rent-to-own deserves to get ripped off.
huh..... I might spend 10% of that on a wii.
Damn, that's a financial tragedy for whoever actually goes through with that.
jeez, thats a hell of interest
Damn. That is just stupid.
Welcome to Capitalism. If you have a problem with stuff like this, then change the system. Want to blame it on the people, fellow Kotaku commenters? Don't be hypocritical.
Sorry to ruin the parade, but stuff like this is just because where theres money to be made, it will be.
That's what I feel about rent to own places...but some idiot must be out there doing that or they wouln't exist.
Might have bought this like 12 months ago, when given how hard it was to find a damn wii.
Now? Just wow.. How stupid do they believe people are?
I hardly think that someone unable to come up with $250 would be able to swing a $79/mo. payment. Kelly's might as well call the collections agency as soon as the customer walks out the door.
That's like a Pre-Pre-PRE April Fool's joke right?
that's retarded.
Well this just seems dumb. Why would anyone rent to own a game console?
@Communist_Gamer: Oh my god, Communist Gamer going off on capitalism. What a shock. I am sure you are writing this on a computer independently made of the capitalist system and using an ISP that is not from a major corporation. And it is probably hypocritical of you to be posting on Kotaku in the first place, a site dedicated to commercial media of videogames. Get a life.
Holy crap, I feel for the folks who think they will make a good deal on this.
And sadly someone probably will too.
@elementary:
Yeah. And anyone who can wrestle up $79 per month can put off getting a Wii for a month, save the money, and then buy one.
People who use credit cards deserve to be ripped off.
aren't there laws that deal with shit like this?
Ugh... On one hand, I thought "Why would anyone not put it on a credit card with a much lower interest rate?".
Then I realized; that's probably the kind of thinking that led those people to the point where they can't even get a credit card.
*speachless*
@Foggynotion: I support this comment.
It -like the lottery- is a tax on the mathematically challenged/stupid. Let it continue.
Trading stories with the consumerist I see. ;-p
(I love the consumerist)
perhaps someone can take out a payday loan to cover the 79 bucks a month and really pay some stupid tax
Or you could get a Vii for only $59.95 a month. What a steal.
@Communist_Gamer: I'm not sure who you are referring to. No one here seems to have a problem with this type of financial deal existing.
That's the beauty of capitalism; a market will exist wherever there is a demand for one. And a market with no demand will cease to exist.
I only wish I would have come to this realization before I spent my savings opening a business that sells Harold Ramis bobbleheads.
@manjikengo:
No, and there shouldn't be. If you're an idiot, you're going to get screwed over, no matter how many laws we have. Unless we start mandatory institutionalization of anyone with an IQ of under 130, we're going to have people getting screwed over left and right. And even then, no matter how smart the "general populace" is, there will be a percentage of the population that is both smarter and more ruthless than the bottom of the curve.
@Foggynotion: Wow; someone needs his panties unbunched!
...And for just twelve easy payments of $119.99 you can get your very own Brain. (Brain not actually real and will not help with cognitive functions)
@Communist_Gamer: You have completely missed the point.
there is a sucker born every minute
@elementary: "No one here seems to have a problem with this type of financial deal existing."
I do. It's basically abusing the stupidity of retards who can't multiply.
No, things like this need to exist. People this stupid deserve to have their money taken away.
Oh Noes!! It's predatory lending! Quick, let's give everyone who took part in this deal government subsidies and bail out the companies too! /sarcasm
I should have thought of this. This is the best business scheme I've ever heard of.
..and they're still in business? That's rather sad.
There's a TV in the background. May it be for the Wii AND the TV?
@Communist_Gamer: In Soviet Russia, you get shot for playing video games.
@Communist_Gamer:I dont really see how that is relevant to this.
@Guizzy:
I agree that it's wrong to knowingly take advantage of the stupid, and I honestly can't think of a situation where renting-to-buy a Wii would make any financial sense, in any situation.
Then again, I think the point most people here are missing is that while this offer has been advertised, it has yet to be announced how many people actually "take advantage" of this offer. I mean, I'm willing to bet the only people who would take that deal would just use a fake ID and address, then "rent" it and dip out.
Damn and I was starting to regret the 250$ I wasted on the Wii...
@elementary: I'll take one thousand of those. kthxbai.
@Communist_Gamer: Thank God you've already moved out of this terrible, awful country, right? Right?
....
@acez2087: were 2 months away from april fools, so
pre,pre alpha wuld be a appropiate.
@manjikengo: yes. its called common sense.
by the way guys, in case ther are people out there trying to find the wii, the nintendo stor e in nyc gets a shit load of them all the time. i walked in the store the day after black friday, and snagged one upwith no problems. find someone in the city willing to ship it to you, and give like 100 bucks for their time and effort. that ends up being 350 dollars, which the last time i checked is way less than 948 dollars. i dunno just a thought.
@waitinthecar: and by "those" I mean the bobbleheads.
@Guizzy: While business practices that prey on the ignorance of their consumers are deplorable, this isn't exactly a fast-talking broker swindling granny out of her savings with sour investments. I'm sure the consumers of this deal, if there are any, know exactly what they are signing up for.
@Part-Time-Viking: No no, it's "In Soviet Russia, games shoot you"
/smirnoff
@Earthslide: it would be great if people could live debt free, but unfortunately that's not true
Biggest scam ever. I feel bad for the people who actually do this.
@Car2oon: Methinks that he's rather comfortable living in his parents California mansion with his weak scruffy Che beard and the Communist Manifesto on top of his 360.
I've never heard of Kelly's before but that's pretty mean on their part. I honestly wonder how many people are going to fall for this.
but if you got 948 dollars to wipe your ass with, please go directly to the jump link:D
When the ps2 first came out I remember plenty of stories of it costing 900+ dollars to rent to own one. I don't see why these people don't save the money for 4 months and just buy the system.
I think the only people who do get trapped by this are "impulse" buyers who see something and have to have it right then.
It's a sad comment on our instant-gratification culture. Everyone wants their stuff RIGHT NOW, never mind that you could save that $79/month for four months and buy a Wii, Wii Play and a nunchuck at the end. But who wants to wait four months when you can spend $948 to have a Wii RIGHT NOW!!!