Easyhome: The high costs of rent-to-own (CBC Marketplace)

Originally broadcast April 2, 2010.
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[@KrypptikkSoulslayer]

This is what happens when you skip out on math classes in school.

[@fedexxxx3]

lol

[@jdmciviczc]

this has nothing to do with math they are trying to hook the low income market

[@justthebeginning1448]

They still should have sat down with a calculator. A little number crunch would have easily shown that their super greedy.

[@socketyellow3]

jdmciviczc yeah they kinna taught us how to compound interest

[@LokTar_Ogar93]

more like lack common sense

[@kevmack101]

its 2019 and I bet he still paying for that laptop lol

[@originalunoriginal4055]

$3000 for that laptop! He could've saved up, use the public library in the meantime. He could've bought 2 macbooks (manufactured newest as in 2017).

[@jaywang7336]

7:14 "they purposely prey on people who can't afford nice things", no they prey on people who can't afford but want nice things AND who's ignorant enough of the simplest price calculations

[@vincenthall706]

saw your comment after i wrote mine:) my point exactly!!!!

[@raymondcaylor6292]

So true. I rented a car for three days in Chicago without insurance. It cost me 286.00. If I had purchased the car for 24,000.00 and financed it for 48 months I would have only paid 63.69 for those 3 days. I guess I should have bought the car and saved 223.00....what was I thinking? This is silly, it's simple math and this show doesn't show you the contract the consumer signed, I bet it shows everything in black and white how much they were paying. If you don't have a refrigerator to store food and you had to shop daily or eat out how much would that cost you? I bet a hell of a lot more than what the refrigerator cost you weekly to rent to own.

[@GetTheNet1963]

Your a prime example of the comment..... You made the CHOICE to go with a HIGHER priced rental. You could have gotten a MUCH cheaper model. Sure it might not have all the bells and whistles. It would have worked for a weekend rental. You can get a base model compact car in Chicago area for 29.-35 a day with unlimited mileage. So again YOUR COMMENT supports exactly what Jay Wang stated above.

[@kerrymti1151]

You haven't lived in the real world...and haven't ever lived 'paycheck to paycheck'. Sometimes, you have no control over life hazards that come up unexpectedly and you have no choice. For work, you have to have a computer, or appropriate clothes or a vehicle to get to work, even a cheap POS...you never spend any money eating out or buying frivolously, you just have insurmountable debt - maybe medical - where you are unable to get out of the hole and are forced to resort to places like this. I have been there. Not all of their victims are in this shape, but some are so don't throw everyone in the same category please.

[@saramcgaha1029]

Save up every week and buy it outright!

[@Grayduckling]

Yes it is a rip off, but there are a few issues i have * You don't need nice everything now * If your credit is shot maybe you can go with out a laptop * You can learn to save and pay with cash. * Always have garage sales or craigslist. it is sad if people get taken advantage of but if they would multiply what they pay a week, it would show them how much they are getting ripped off.

[@optimusmikey]

Bjorn Erikson I had no credit and got a credit card in May, now my credit is almost 800

[@solongsucka]

+Bjorn Erikson Its not a rip off. Its a business. You have a choice to NOT buy from them.

[@Grayduckling]

+solongsucka I didn't know that businesses didn't rip people off. my bad, I just thought people had to shop there

[@solongsucka]

Bjorn Erikson Common sense is a commodity! Dumb ass!

[@SolidSonicTH]

Honestly in this day and age trying to get by without a computer is pretty hard. That laptop, even for when this story was shot, didn't look like anything special so if that's the only way you can get one that'll just be how it has to be.

[@KittyCandyCupcakes]

I came to this video after seeing a laptop on their website for $29 for 105 weeks, the math is pretty easy to work out there... It's really right in front of your face.

[@ve5618]

corporate America feeds off the helplessly dimwitted. Easy home is probably owned by bank of America.

[@CarbonComp]

3045US + Taxes, yoy can buy a damn gaming pc with that!

[@naweedsediq1299]

the problem is that North Americans spend more than they make. when i first came to the US for the first 3 years i had no cell phone, tv or laptop. I worked hard i saved penny by penny. I bought a house instead of an expensive car in only 4 years and buy fancy stuff every once in a while with 100% cash. always save and spend based on your earning

[@sharronalexander202]

How about giving positive advice and helping the Americans instead of coming to America being a jerk.

[@billbohrd3503]

+Sharron Alexander: How about YOU posting a positive comment for a change?!

[@EuProprio-un5ek]

or... not coming at all!

[@8352731]

I don't understand why you think this person is being a jerk for detailing his frugal habits and paying cash for items. By this lack of logic, every financial expert (and they almost all repeat this ..) are jerks.

[@busdriver1118]

Old comment 8352721. If I'm right then Naweed caused Sharron to be upset by carelessly labeling all of america. Which I must say myself isn't a very smart move due to what he's implying when in reality americans has been doing that before he was even born and still have many doing that now. He should of said many people and it would of came off a lot better. Because to be honest, from Japan, to Russia, and so on this stuff happens everywhere.

[@Bigbacon]

maybe if you can't afford it...you don't need it OR you buy a cheaper alternative.

[@DeekerJones]

Or make the same $9/week payment to a savings account and buy it later. The only thing you get for those outrageous prices is an item RIGHT NOW. Totally not worth it. If you can afford the $9/week, then pay yourself.

[@jdmciviczc]

maybe the government should regulate and include them into same laws as credit cards ...not as a rental to ownership...its a shake down around th credit system

[@Fatheadbone]

So, lets say a single parent has a washing machine that dies. They should bank the weekly payments until they have enough to pay cash for a new/used one? In the mean time, they need to have clean clothing for themselves and kids. Have you priced a laundromat lately? Costs a LOT more than $9.00 per week. There is always more to any story than the one that makes people look bad. Stop doing the auto condemn

[@mintsiez]

Or learn how to fix your washing machine or you can always buy used sometime people are even giving them away

[@raAdams-wk4br]

@@Fatheadbone Not everything is black and white fathead, You pick your battles; put off the things that are not essential. their new furniture and laptop was NOT essential. Its the "me...I want it now generation"

[@JohnSmith-tg6dx]

3k for a gateway laptop? Mistakes were made....😂😂

[@MeowJW]

I'm poor, and I'll never even walk into easyhome.

[@therising1]

"But most of us aren't math wizzes..." It's multiplication and division!!!! What are you talking about? Every single phone everyone carries with them literally everywhere they go has a calculator. Stop blaming the company for the absolute ineptness of the consumer in these situations. It takes less than a minute to figure this stuff out.

[@boshowa0840]

Some people are really that clueless though. I had to teach an adult how to fill out a personal check, and he was younger than me.

[@Spitamen]

@Ali Abdul Rehman you don't need to calculate compound interest or even simple interest. All you need is multiple monthly/weekly payment by number of payment periods. $29/week x 105 weeks = $3045 total cost. How is it difficult? If customer can't do 3rd grade math than he/she should not be shopping alone or deserves getting ripped off.

[@KingKehra]

Just for fun I browsed an EasyHome store and when I saw that a cheap couch would have cost over $5,000 I started laughing. I will go there from time to time to laugh at the outrageous prices.

[@Raptor1867]

I seen them renting a cooler for camping at $19/week. I said WTF to myself.

[@richlandzee8686]

Its easy. They prey on people who live paycheck to paycheck and don't even bother or know how to do math!

[@breathoffreshair7795]

Richland Zee i doubt its “not bother” but moreso that they dont have many other options. Yes they can afford this because of how the cost is split up but they in the end pay more and sometimes thats what they have to do

[@napillnik]

3000$ for that laptop? The first time I saw it, I immediately saw that it was a basic model from 4-5 years ago. So if it was like 500$ 4-5 years ago, now it's worthless, like 100$. They got charged 30 times more than it's worth! Holy shit! I paid 1700$ for my brand new, latest-gen, premium gaming laptop that rips anything you throw at it with lightning speed, while remaining light, thin, and usable for work as well. I won't believe that it's so hard to just NOT BUY STUFF RIGHT AWAY, and wait for a month or two living off something more basic. Is it soooooo hard to just make a multiplication in your head? roughly 50 weeks per year, multiply by any price, and you get 900$ for a freaking table! I did that calculation in a few seconds! The moment I saw those weekly prices, I immediately understood that it's a huge rip-off, without even calculating the final price. This is just incredible! What do these people think?! When I moved into a new house with almost no money, we just bought the absolutely necessary essentials at first, hit the second hand market for furniture, and then over time we bought new, high quality, premium stuff, piece by piece, when we could afford buying that with the debit card. It's not hard, and you're independent, and nobody is ripping you off. By the way, second hand market gets you the same things as listed here, for maybe double or triple the price per week, but you only pay once for it and it's yours.

[@cococly]

$1700 isn't a premium gaming laptop, my basic ROG laptop is $2500... for the base model... just saying

[@tinydough8746]

Yea, there’s so many discount stores out there, like winners, Marshall’s, Thrift stores aka The Salvation Army, home sense, and more. Just because they’re second hand doesn’t mean that the quality is bad. These people are just too ignorant to shop at these second hand stores😒

[@nutlover3609]

cococly 2,500 for a laptop is basic. Premium laptops are 5k+

[@IAMDIMITRI]

If you pay for something over time, you always calculate how much the total cost is. WTF is this 0o?

[@jaywang7336]

Yeah the couple like " what is the REAL cost?" And she's surprised that they're paying way too much for the laptop, I mean come on it's the simplest of the simplest math right there, how did you not know to just times the amount you pay in a week by the number of weeks you are paying, it sounds way too stupid to not know you're paying way more

[@jaywang7336]

Yeah the couple like " what is the REAL cost?" And she's surprised that they're paying way too much for the laptop, I mean come on it's the simplest of the simplest math right there, how did you not know to just times the amount you pay in a week by the number of weeks you are paying, it sounds way too stupid to not know you're paying way more

[@IAMDIMITRI]

+Jay Wang agree!

[@drewyeaton4113]

+Jay Wang This is because they want to make the program a tiny bit original

[@drewyeaton4113]

+Jay Wang Also The human brain is doped very easily. EasyHome takes advantage of this Ding ding answer

[@vincenthall706]

that's what happens when you lack basic math skills but you have to own that 50'' plazma....

[@GotWrackspurts]

Vincent Hall that's not even impressive anymore, with the latest being 65" oled tvs

[@dannyc.1552]

Ya but this is back in 2015.

[@brandell4638]

It said 'originally aired 2010'. Nothing has changed I guess...

[@NuttyRageGaming]

You must lack basic English skills then cause it's spelt plasma 😂

[@sweetdreams1DIAM0ND]

the customer was just stupid: *all the things purchased shows the customer gave at least $150 a week to that company* 1. 39 for laptop weekly? ok how about you save that for 10 weeks and own one maybe better with $390 2. what do you need TV for, you already have a laptop you can watch everything on that since you dont have money 3.now get whatever food you need from supermarket at that moment, finish it and put it in trash. 4.for fire just get a $40 fire that has a cylinder under it use that till you saved enough. 5. now save $65 a week for 10 weeks($650) gets you a good fridge + washing machine + cooking machine on craigslist. 6.bed maybe important so you can pay the company for that. 7.use cartoons for storing cloths(I do that on vacations) and save $15 for 10 weeks and get 2 cupboards on craigslist 8.who needs table you just just lay a plastic on the floor and start eating. how many weeks to get all done with $155 a week? JUST 10 WEEKS. now that you got everything, now save more on the better ones or new ones for a year and sell all of those craigslist items and buy all new.

[@Briluvr]

+sweet dreams Logic isn't plentiful with Easyhome's customer base...

[@Xtremedog83]

NEVER RENT TO OWN YOU DONT WANT THAT TROUBLE IN YOUR LIFE JUST DONT DO IT!!!

[@ahmednasr9728]

Easy Home booming means that many people accept its idea. I think buyers are mature enough to calculate the basic price.

[@RattPoison80]

You decide to have a kid but can't even afford furniture for its room. Nice.

[@Mateicats]

Don't be so hard on them, they couldn't afford condoms either.

[@TheFourthWinchester]

What would u to say to Arabs who have 10 kids a couple and can't afford anything?

[@desertguy1362]

They wanted nice stuff for their kids, like provide a better life than they had growing up. Probably thought low payments and some interest maybe pay 20% on top of retail. I can see how a parent with low income and bad credit could see the upside. I see it all the time when people purchase new cars and are tricked in "monthly payment" so not to know that it is a 6 or worst 7 years loan.

[@laddootablet4761]

@@TheFourthWinchester That will be called multiculturalism and use of welfare system which is Govt stealing from hardworking taxpayers to enrich lazy bums.

[@sidharthchand8072]

TheFourthWinchester ArabAmericans

[@marshallallensmith]

I know this may sound revolutionary and make believe but, if you take that same 20 dollar a week and put it in a jar and save it you can buy the same tv in approx 4 months and it will be the newest most up to date version also.

[@alexandradiazcrisosto3693]

Marshall Smith™ that's not an option if you need a fridge or a bed for your kids, saving money is an option if it is something you want but not if it is something you need

[@brandell4638]

I agree- needing a frig is different than a new sofa, tv or laptop. What they didn't say on the report is the way people treat these rentals. The real issue is a family 'buys' furniture, rents it for 6 months- then stops paying. The company has to drive over, pick it all up and take it back to a warehouse. Meanwhile, the sofa looks like they've used it as a dining table and baby chsngjng station. Do you think they can re-lease it? No, it gets trashed. That waste is calculated into the prices. That clueless couple are not the norm with their perfectly clean apartment.

[@Brian-Hayden]

There are so many other ways to get nice things. Buy used items through Kijiji or Facebook Buy/Sell Groups, hand me downs, thrift stores, etc. There are much better loan companies with WAY better rates and more transparent costs to get loans for. Stores with in house financing tend to be more forgiving with credit. Easy Home is such a rip off I can't handle it!

[@kitchensproductions]

Build your life first. Prioritize! Entertainment is a choice.

[@matte8441]

I’ve bought drivable cars for less than their appliances. I also have a Best Buy card that allows me to loan appliances at a 0% interest rate. I normally loan stuff for 3 months before paying it off to keep my credit score up.

[@MisplacedTexan]

Doesn’t everyone’s phone have a calculator? They give you a price and a number of weeks. $32 a week for 150 weeks. That would take about 15 seconds with a calculator. $4,800. It’s that easy. My husband and I, when we were very young and just starting out, went to Rent-a-Center (the US version of Easyhome) for a washer and dryer. We saw a new, fancy set for $24 a week for 2 years. I managed to do that math in my head, as this was before cell phones that could do anything but make phone calls.... We left in less than 10 minutes. Found an awesome set in the classifieds for $300. That set lasted us 7 years, until with good decision making and living within our means, we’d gotten ourselves to a place where we could buy a brand new set at a great sale price. People have to be smarter than this...

[@user-dx8nj7qj2g]

I would never recommend buying a used dryer, even new ones that arent treated well can be somewhat flammable

[@MisplacedTexan]

Cody Sewell - I’d sure buy used before I’d pay 27% interest!

[@user-dx8nj7qj2g]

@@MisplacedTexan oh, I wasnt recommending this service, I wouldnt go with them either.

[@Zestpond]

$3000 laptop?!

[@arrogantambassador9190]

Pure stupidity, just look at his haircut 🤣

[@CarbonComp]

I can buy a gamer pc with that

[@stopper90004]

It must be. An Apple product 😂😂😂

[@mamad4562]

Dude this was me 😭 I leased a phone with a company and they said I had 90 days to pay or else it’s $50 for some months! Thank god I only have 4 payments left once I’m close I’m paying it off and never again!!!!

[@shubhamsuri9907]

I am new to Canada, this show is very informative to understand consumer rights and protection. It's surprising that videos of such quality don't have higher number of views.

[@samueldion-dundas5219]

Why did they contact a university professor to do basic high school math? Seems a little bit odd.

[@msparkz770]

Its called "Hire Purchase" where I am LOL

[@megashani91]

omg i just wrote that hire purchase isnt a crime. i think they just too sheltered to not know this tuff. Jamaicans know about hire purchase from we eye deh we knee

[@skinvai]

@@megashani91 lol

[@LNasterio]

I see my business opportunity right here!

+Asterio exactly what I thought, this business idea is awesome !!

[@Mark-sn6kh]

Rent to own home goods are just preying on low socioeconomic individuals and families. It's disgusting.

[@ThienNguyen24]

This is why you study Maths. And you don't need to be at UBC-prof-level either, just high school Maths is good enough.

[@TheAureliac]

Grade school. By third or fourth grade, kids should be able to multiply $29 a week x 104 (2 years), especially when every phone has a calculator. These people are so intellectually lazy that I can't feel sorry for them.

[@ShieldX_Snowy]

It’s their fault not the companies fault

[@sideancg6312]

What I've learnt from cbc is to avoid any and every company with the name 'Easy' in it. I find it odd that the buyer doesn't work out the overall cost. It really isn't that hard.

[@darryldee467]

I remember renting to own a nice Mitsubishi VCR in the late 1980s from Granada and they weren't nearly as bad as "Easy"home. It was $40 a month for 36 months for every $1000 worth of merchandise.

[@mosesyang4222]

serves people right for not doing their research. Heck, every time I go into a store and want to buy something that is more than $100 I always use google, amazon, or ebay to find something comparable, similar or exact and see the price difference before I buy

[@sergeyeremenko]

School boards need to update school calculus programs not to graduate so stupid people who use services like EasyHome

[@Mallory-Malkovich]

Maybe they should look at the English programs while they're at it.

[@ThePunishedLeaf]

You really think anyone who uses easyhome would even take calculus?

[@Briluvr]

+Sergey Eremenko Yes, because calculus is necessary for calculating compound interest rates...

[@TheAureliac]

This is basic multiplication.

[@SolidSonicTH]

I have never wanted to try doing this... Though, to be fair, you should PROBABLY expect to pay more if you want to rent-to-own. Someone has to make money if they're giving you something for substantially less at the start.

[@Hella-ob8fz]

If you want to have nice things immediately, without putting in any work, this is the price you pay. What did you think was happening when you got a tv for $20?

[@soup331emd5]

they are transparent. easy home gives you the price and the date, you do the math. if you can't calculate the overall cost of payment plan purchases, you really shouldn't be living alone.

[@Rockshadow91]

Something that's not mentioned here is that if you try to pay off the remaining balance on an item in one payment, you are charged a early termination fee. We were renting a couch abd recliner set and had like 850 left in payments on it and my stepfather went in to pay off the balance with his income tax return and they wanted 1500 to pay it off.

[@rochester3]

thats cause they want the future interest payments

[@Rockshadow91]

@@rochester3 yuppers

[@rochester3]

@@Rockshadow91 I’d just pay the principal and tell them to fawk off

[@404TRUCKERTV]

ok i get it, but easy home is a leasing business not a retail purchase business. they are not a bank. they dont have to disclose what they are paying for their inventory. They are no different then any other business, say a hotel motel business, a car rental business, a apartment complex, 30yr mortgage or a restaurant down the street. hell, you can go on craigslist and buy a used computer for 20 bucks lol. that couple is no more ripped off then someone who has a 30yr mortgage, eats at apple bees every night, or drinks starbucks coffee or stays 2wks at a hotel. why pay $150 a night smh! do the math on that lol.

[@NicholasLittlejohn]

We need better laws to protect consumers.

[@robertvirginiabeach]

I wonder how many of those rented items aren't recovered when the customers stop making their weekly payments. i suspect some of the rented items aren't in condition to be rented to another customer if they are returned by a customer who can't pay long enough to own the item. After all, if these customers had a better history they would be able to get conventional financing or use an actual credit card.

[@siveonfarcloud4190]

So this is a "Math too hard" problem!

[@futureprogrammer880]

lol how can you pay over 3 grand for a gateway computer.

[@siveonfarcloud4190]

Their brain turns off and they don't calculate the proper amount they will be paying before making the purchase.

[@MasterMoose04]

Lol why hire that Chen guy to do some simple math

[@TheFourthWinchester]

Cuz they couldn't find an Indian and had to go with the Chinese.

[@brianl5399]

Lol you jelly that they didn't find a viet guy to do simple math?

[@kevinbeckenham3872]

Have you heard of saving ? Or buy second hand ?

[@mhikari92]

In my opinion : Let's see what's on ebay and flle market first !(You may need that item for better living evenment,but you maybe don't need a brand new one ! Sometimes second-hand is enough to cover your need.Just saying)

[@PeeYachDee]

I almost transfer $35000 pre-approved to my existed account... thanks for saving my life.. Govt. should take action on it..

[@asdaww.4084]

Oh noes, poor unsuspecting victims lured by an evil company into buying things at the disclosed agreed upon price... What a shame! #CBCmyHERO

[@NicholasLittlejohn]

You're evil to try to defend this greed.

[@S2Tubes]

The issue is that they're advertising as ~30% PA interest, but the reason they're doing it is because they're pricing it at way above retail pricing. That said, I do agree. It's completely voluntary. The amount and time is agreed upon before the deal goes ahead. The question then is whether or not upping the retail price is legal or not.

[@waterbottle4782]

I am smart enough to not buy there considering they are worse than borrowing money from organized crime. I just buy used furniture or electronics if I cannot afford that special new item. Hell even credit cards have lest interest!

[@KrypptikkSoulslayer]

Kind of what happens when you skip out on your math classes in school.

[@PolizeiPaul]

I don't know about Easy Home but if they are anything like our RentOne ALL the stuff is used and also the high prices..Well a good chunk of that is from their insurance on the item against theft,fire,tamper,and destruction (even if by you your self). That fee for a PC I got from RentOne was about $60.00 weekly I believe along with the base cost of the PC..Also why don't they just start setting these up on monthly vs weekly plans? I told them to set mine up that way..It's easier to just pay it once a month vs having to come up with that much weekly.

[@Briluvr]

+PolizeiPaul They want your money weekly rather than monthly because you're an at-risk customer and there's a high possibility you'll stop the payments, if you stop mid-month at least they squeezed a few extra bucks out of you.

[@Lili-bj6jc]

Ask for a list of items nearly paid off. If it's anything like RentaCenter here in the USA, they can search their database (from multiple store locations) for those products. If an item has less owed on it than it's current value (as a USED item), then buy that and never let the payments go beyond three months (preferably when there's a no interest for a certain amount of months sale). One example: I bought a laptop for $60.

[@cellophanezombie5621]

This is absolutely disgusting. Employees specifically acknowledge their customer base is lower income. They take advantage of the fact that people with less money are almost forced to use them and then they charge astounding prices for mediocre products. Truly horrid.

[@spartanjeremiah2176]

You not only a one whom Against False prophet on KZbinrs channel.. Because KZbinrs channel are Already False prophet.. Search on News in Antichrist group, News in Darkness, News in Hell's.. Because KZbinrs already did helping to Darkness, Hell, And Antichrist group.. Be careful what you said during KZbinrs channel.. That is, Very Serious advise for the truthful..

[@bobofunnyrabbit9665]

It's good for CBC Marketplace to warn people about these deals but portraying it as some sort of scam is wrong. People who go into these deals need to do some math before making decisions.

[@nutlover3609]

John Doe Yea not really a scam when it’s right in front of you. They just scam really really dumb people

[@ronnies4380]

If people want new things save up and buy with cash. Stay clear of rent to own it's all a trap😊

[@MsJuliab14]

It sure looks expensive to be poor. ...next time, try Craigslist or IKEA.

[@flindangle3100]

if they really wanted to help out people who couldnt afford this stuff otherwise theyd have the items at the normal price and charge small payments monthly

[@rquincy4113]

Bro. If you don't have the money, you wait. Or, if it's a necessity, buy the cheapest working versions you can find. Ask friends and neighbours if you can borrow/use their things if you must. These stores are absurd cash-grabs and will do everything in their power to help you into permanent debt which will eventually be sent to collections. Have fun.

[@AmazinqCutie]

Renting is the same way. $700 -$1300 per month for a house/apartment/condo that’s not yours! Should just get your own or go off grid.

[@paulward9038]

Because they pay regular retail for those items. And they have to make a profit too. When you do rent to own. Don’t look at the final price because that price isn’t the point. The point is the weekly price.

[@TomsLife9]

most new credit cards offer 0% interest on purchases for 12+ months, why not go that route and make payments on the card? plus you'll get gash back in the process (or miles, etc)

[@vicgamesvt9682]

If you cant afford furniture you should use craigslist or kijiji in a rich area and then spray down your furniture with bug killers and cleaning supplys.

[@mariusvanc]

Don't buy stuff you can't afford. Also, don't skip math class. Who are these people? If you're paying $x every week for 3 years, how can you be surprised at the total?

[@toddstraveltips7801]

They charge more interest then the mafia! Good business to be in!

[@kingraghavsahni]

It’s their business model and are successful. There’s nothing to investigate here. They tell you x amount for x amount of week. Nothing to see here.

[@kevinmiller5467]

In this video people that can't do maths. Sure it costs $16 a week but there are 52 weeks in a year and you pay for it for 3 years.

[@melbournetransport8987]

The difference is these people you were asking are trying to guess a number with the only prior knowledge being retail price where as at easyhome they are given the values beforehand ($9/pw over 24 months) so they can quickly determine the exact number. Its not hard to do multiply weekly repayment amount by number of weeks to repay minus retail price...

[@CoroaEntertainment]

Anyone (even someone that is "broke") can easily copy down the model number of the item they want to lease, then head to a local library (to use their computer/internet... if they don't have their own smart phone with internet access), look up the model number on-line to check the retail price for that item plus tax, vs what the lease will end up costing.

[@willn8664]

Why didn't the couple just get cheap used furniture from a thrift store/ consignment shop for the time being?

[@harshangill8130]

So they travelled all the way to UBC to get it calculated by a professor when anyone could do it.

[@etrnlygr8tful]

Ok...this couple also is at fault for getting their stuff through easy home. Can't he do the math and calculate how much he'll end up paying for the item @ the end? Here is the problem sometimes....living beyond our means. He could have looked at thrift stores or maybe just buy the mattress and put it on the floor, until you can save to pay in full for an actual bed frame. As for easy home...how can you people sleep @ night? They don't only prey on people who willingly walk in their store & bite on the apple they are offering.

[@bioshockbrat9171]

This one drew me in because my mom bought a bunch of stuff from Easy Home and is still in debt from the things she purchased

[@lithostheory]

Multiplication is too difficult? How do they survive?

[@antony3018]

Can you change the lease or rent to own timeframe? Like pay more per week or something.

[@Stardust_7273]

I don't have hardy any money. So when I need stuff, I go online to freecycle or fb marketplace.I used to go to craigslist but found that a bit too risky. I have gotten so many really cheap or free things that are perfectly fine. I also do tag sales and curb sides, you can find great stuff. Just cuz it's used doesn't mean there is anything wring with it. If there is some minor flaw, I just fix it or do a creative cover-up. The most expensive piece of furniture is my smart tv, which I got at a pawn shop for $100 two years ago. And it works just as well as a new one.

[@keithrichardscorpse1230]

If people cant do basic math before signing, it's their own damn fault. No different than buying a car

[@AAA11546]

As scummy as Easyhome's business model is, the people who fall for it deserve it. If you cant do $ per week x Number of weeks = $______ then you are way too easily manipulated and did not bother doing your research. In order words, you deserve to pay 3-4x the retail price.

[@classycassie1118]

It would be cheaper to buy it on a credit card and pay it off that way. You don't get the extreme markup. And if you have decent credit, the interest won't be that high

[@kirkhenike4183]

Its kinda sickening that I worked in that industry! Part of the reason the base price is so much higher is because the company has to account for loss or damage on an item. Its not uncommon for things to break or get damaged and if they do its not likely the customer will keep paying until it is replaced. In addition, if customers are overdue and we are sent to collect payment or reposes the items, its also common to find items damaged or destroyed on purpose. Thats not to say that there are reasonable rates but they are person/business specific rates. If you need to stage a home, more often then not they can charge a completely different rate knowing that it wont be used or very light usage.

[@nickel2442]

Same thing for renting water heaters, buying homes, anything to do with borrowing other people's money.

[@707jmc]

QVC and HSN do the same thing. I don't think they charge interest though.

[@imsunshine20]

But obviously the company needs to make some profit too. If everybody return their purchases before completion date, the company will be at loss, they are not charity organization, they have staff and rent to pay too. Customers' greed is the main root for this issue, they want nice things but have little money to begin with.

[@vermasumi]

cant someone multiply the weekly cost with number of payments.....why are they surprised at the full cost now...

[@TommyTwoYooks]

Maybe you should look at the contracts you sign before you sign them

[@jonabank]

People who fall for this are people with low income. It's all based on the want for instant gratification. They should have brought a calculator. Ofcourse renting is more expensive. That's how they make money!

[@SPGaming2019]

Yes, all instant gratification, low income families, where children are involved, and a childs bed breaks and now they need a new one, or one of them works online, say, a writer, or a blogger or what have you, their laptop breaks down, and they have a deadline that week... Must be nice to be in a financial opinion and have 100% understanding of all that goes on in everyones life. Maybe, just maybe, your not looking at the big picture, low income families will do whatever it takes, to provide necessities, sure, not all of them, but some of us are just making ends meet and have immediate needs, that the luxury of time, is not afforded on.

[@b-demi4416]

Do what my dad did when he was younger, with each paycheck by one item you need for your living space. It'll take time but you won't be in debt.

[@danrodrigues3531]

You can Google the product to get a price...

[@THETOYTIMEMACHINE]

These people are crooks. My mom is on disability and I help her very often. She didn't want to ask me for money as she often does to just get by, instead aftwr seeing an add for easy loans, she was scammed into a high interest loan with a forcing of insurance she never needed. It is very hard for someone to recover from a payday loan. It's a vicious cycle. Absolutely brutal. I really beeline that banks should be offering small interest loans to low income families and disabled people.

[@FC-hj9ub]

How does 12 dollars a week sounds like a deal ? That's almost 50 a month.over 100 dollars a month for a laptop. Are you joking? Some one who was bad at math like me knows that's the opposite of a deal

[@blackdogslivesmatter1568]

Watching them release balloons in the air is worse than throwing a kitchen garbage bag out of your car on the highway. Only one of them you get criticized for the other you get congratulated for. WTF?

[@88Xlmk]

Damn, the prices for furniture and home appliances is insane, even if you don't use these guys. In my country in Europe we can get fully functioning simple full sized fridge with separate freezer for 200 euro, and in Canada I can't find full sized fridge for bellow 550 Canadian dollars. Is this normal???

[@jotac87278]

That stuff is worth whatever someone is willing to pay for it. Simple as that!

[@xentaatnex8261]

Why not plan ahead and save those monthly payments and pay yourself?

[@kevinschmidt9211]

This is criminal, in Canada you cannot legally charge more than 60% interest, but this company has scammed the system and is charging in excess of 100-300%. I mean anyone could of thought of such a slimy business (the mafia did) but the fact someone has such a broken moral compass that they can go and prey an people who are clearly so vulnerable is repulsive.

[@sunnyvangloria2084]

I thinks use calculator and compared to the prices online will help you before decided to make a deal. Like apple 4 gb ram for over 1000$ ... or affordable android 8gb ram in around 260$ ... buy what you need.. than what you want

[@smilerpie1]

This is a conundrum, the rates are crazy but so are the consumers that buy what they want cuz it’s easy and then say they were swindled....

[@cricketcricket9749]

Just do the math people!

[@AcousticGString]

This is the same as Rent-A-Center in the U.S. I will NEVER step foot in one of those places, that just makes me feel dirty when I think about how badly people are getting taken for a ride. I also hope that this exposé by Marketplace made their business suffer....screw them.

[@umachan9286]

I remember seeing an ad for one of these rent to own places. It was for an Xbox for $15 a week for three years. Until you figure out it would have cost you over $2000 by the end. These places prey on people who don't consider the long term implications of things and only look for a short term solution.

[@hbarudi]

I always avoid stores like rent a center and others that rent you an object for a time until you pay enough to own it. Rent to own might be good for a whole house, even car rent to own is a rip off. Only do it for the house and I hope those companies don't significantly increase the prices.

[@larryc1964]

Please look into hot water tank rental scam companies in Ontario. HWT rentals for some reason doesn’t happen too much outside Ontario! A real ripoff!