With what folks have gone through in 2020, they’re seeing that debt is a thief. They see the last thing they want to do is get into leasing, financing, buy now, pay later. I’m hearing desperation when I hear car dealerships on the radio - no reasonable offer refused on used cars!
...when was that happening pre-2020?
A lot of people made awful good money off the backs of people who couldn’t really afford what they were being sold. I’m hearing the sound of chickens coming home to roost.
Welp, I saw it on my way in to work today and just wanted to bring it to your attention - you can “rent to own” a shed. A garden shed. It’s a nice shed, but on top of all the other problems you may have to contend with, you can invite the man into your checking account every month (or more frequently!) to take your money while your brand new shed depreciates like a rock in your backyard. What service!
Rent to own is new/old language that I’m seeing more of recently that is meant to take the “sting” out of borrowing. For a marketing department and someone trying to sell something, that is - you’ll get stung, as usual.
Rent to own is a great way to wander into debt - but get your shields up! This is craziness.
Buy your shed in cash, by cheque, by email money transfer from the same vendor and ask for a deal - and see if “rent to own, same as cash” is ACTUALLY the same as cash.
It won’t be.
UPDATE: We’re 75% completed our “$5,000 by Sept 6th” commitment to our car loan since June 14th’s blog post - how’s your progress tracking?
The commitment:
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