Dell Finacial Services Rip-Off

Lalolyen · #1 09-25-2007, 08:00 PM

*** not to mention any other monthly and annual fees you may have had with that.

Angelox · #2 09-25-2007, 10:37 PM

"If you don't have the money to buy it, then you can't afford it"

This was told to me some time ago, and it stays in my head (I need to follow this policy too).

soulshot · #3 09-26-2007, 01:52 AM

Seconding the cutting up of credit cards. Also your bank should be able to give you a debit card against your checking/savings accounts for those emergencies you are talking about. The only fee associated with it is atm's at other banks, but 95% of the time you can just use it like a credit card etc.

techguy84 · #4 09-26-2007, 07:29 AM

Well, there are several Rent to Own places around were I live cause people dont understand that they are paying 4 times more for something so they still buy into it. Rent 2 Own, Rent a Center, United Household Rentals, Aaron's just to name a couple. The good thing about these places is that if you dont want the product anymore, take it back and your out, no contracts or amounts to fill. The only thing is your out whatever you payed into it, which some cases can be alot.

The policy that if you cant afford it, you dont need it, works some of the time, but a credit card is not nessicarly a super bad thing. The thing about credit cards or financing is no matter where you go with it, you have to keep a eye on it. You cant just blindly pay the bills and go about your business. If your a borrower, you need to be as informed as the person lending you the money. You need to know about late fees, APR's, The Prime Rate, contracts, frequent credit checks, what can happen, and what will happen. You need to be on top of the game at all times with it. For your saftey anyhow.

I know several people that have several CC and are doing fine with them. They grab them up when the oppurtunity comes their way and come out smelling like roses. My Dad for example has about 10 credit cards, two of which are Amex World Cards that have a unlimited credit line. You think something like that would surely spell doom for someone, but both of his cards are in check, he can pay each monthly fine, and at any given time, he can pay them off completely. It helps that he makes 130k a year, but most of that is used in other things like car payments, mortgages, and helping us kids out from time to time. He could easily mess his life up by using one of those world cards like its meant to be used, but hes not cause he knows that he couldnt afford to do the two things i mentioned he does.

Anyhow though, it boils down to wether or not your a good finanical person. If you have a history of bad debt, lack of bill paying, and you never read what you sign, a credit card is not for you. But to those of us that can swing those things, a credit card is a great addition in the way of funds your job just didnt pay you this week.

Angelox · #5 09-26-2007, 10:17 AM

I fully understand what a credit card means, I just have been away from it all for several years, and these "rent to own" scams have developed since - at least where I came from, they were not around or not of interest. My life went through three phases; It started with "bad credit", then it went to "the best credit you can get", and now it is at "I don't want any credit other than what I have to". I can tell you the most enjoyable times of my life, was when I had paid off all my credit with a consolidation loan from work and my credit was still ruined anyways since I was always late and delenquent. No one would lend me a penny, I had no debits other than the one loan, and I was happy. If my refrigerator broke, Id go talk to the owner of the shop for a new one, and pay him off in a couple months. Eventually, my credit history evaporated (time will clear it) and I was wide open for credit. I kept loans, credit cards, car payments etc. for many years, and built a spotless credit rating. We each are entiltled to our own opinion, my opinion of credit cards, car dealers, and most loan schemes in general, could not get any lower. I know where they are coming from and what they are doing, I've learned this through my life time of dealing with them.
If I wanted to right now, I could start up that credit machine again and work my ass off, begin with the juggling.
But When I retired, I retired from it all - it took me a while, But I believe I have learned to live from within my income (my only "credit card" is really a debit card), but since everything is temporary (happiness too), I figure something like one trip to the hospital by me or any of my family, will send me into a credit hole again.
"Money is the root of all evil" , it really is! too bad we need it to live :(

Docs · #6 09-27-2007, 11:14 PM

I wish i could link for you the dell lawsuits going on with that problem your seeing Angelox.

I know where you guys are coming from, and this is why i take each customer aside and explain to them? you want this PC i have here.... pay me each month normal and when your done paying it off (layaway) pay me asap and you can have it in your home for 0 interest, 0 admin fee's etc.. just dont come back 6 months later asking for a refund.... cause you will lose 20% of it for restocking fee's.

I cant get any more fair then that.

But i cant do the whole city

techguy84 · #7 09-29-2007, 04:07 AM

Quote:

Originally Posted by Docs

I wish i could link for you the dell lawsuits going on with that problem your seeing Angelox.

I know where you guys are coming from, and this is why i take each customer aside and explain to them? you want this PC i have here.... pay me each month normal and when your done paying it off (layaway) pay me asap and you can have it in your home for 0 interest, 0 admin fee's etc.. just dont come back 6 months later asking for a refund.... cause you will lose 20% of it for restocking fee's.

I cant get any more fair then that.

But i cant do the whole city

Well, its fair if your certain people. But most people wont feel happy paying $600+ or something they do not have in thier home and are able to use. I did financing on the systems that I sold. My repayments were simple, and if no one paid, I went and repo'ed the system. I found it alot better for the customer to have the system in thier hands, then to not, when they are paying on it. Imagine if a car dealer told you what you just said.

My financing, was more or less, out of pocket. I put trust in people by how they feeled. I didnt go by a credit score, I went by a person score. People were alot happier, and a happy customer is a returning customer, and a refering customer. The difference between my financing, and the financing of the bank corpations that put out things like Dell Financial Services is that i have no fine print. I have no APR. I can state the ins and outs of my fiancing off the top of my head.

Banks have WAY TOO MANY details to make money. But hey, thats how they get richer.