We’ve had a mention on BBC Radio 4’s Money Box, which was investigating the rent to own market.
- Julie, one of our customers from Birmingham, talks about the market leader, which has 70% of the market. Julie says“they could offer me what I wanted but not at the price that I wanted but at the time I couldn’t get credit from anywhere else, so I had to go with them. I bought a gas cooker, the price at the time was about £400, I ended up paying £1500 by the end.”
- Is there an alternative? A report out next week from the Centre of Responsible Credit will highlight Fair for You as a cheaper alternative to the bigger and better known companies. Fair for you is a not for profit lender. If you pay them, let’s say £8 a week for the same product, you’d pay £628 in total and you’d own it out right after 82 weeks, rather than a 156 weeks.”
Listen to it in full here: