Comments by "Samson Soturian" (@samsonsoturian6013) on "Rent To Own: Keeping The Poor Poor" video.

  1. With fridge renting the seller is pricing in all the people that can't/won't pay/return
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  2. You're not just dealing with people who can't budget, you're dealing with people who refuse to budget.
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  3. People that do this are so impatient they actively refuse to make a personal budget and get angry when you say you can't afford things. They usually make up for gaps in their budget by begging, borrowing, and stealing and blame others for poverty. Do not ask how I know this
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  4. I just realized I don't even know where the local rentacenter is because I would never consider shopping there......
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  5. ​@tellyboy17 you'd be surprised how well educated these guys are. Some people plan to rely on charity or defaults to get out of paying.
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  6. How can you talk so much but say so little?
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  7. You're mostly talking about China's bubble. Most of those products were being sold at cost financed with huge loans in a systemic ponzi scheme. That collapsed when interest rates went up
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  8. Poor man rents to own, rich man rents timeshare
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  9. If rent-to-own was profitable, Walmart would do it too. But they don't, they'll let other people issue toxic loans to toxic people
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  10. Vhut?
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  11. They teach this in schools, the people in question actively refuse to learn. Never underestimate how many people borrow with no intention to repay
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  12. Lose the clickbait. Voice of experience, small loans to degens is a lot of risk for very little money.
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  13. It's all short term small lending.
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  14. Lying is not necessary in this instance
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  15. It's seller financing. Car dealerships do it too, but in their case there is an actual need for the loans and each loan is large enough to be worth the transaction costs.
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  16. Citron Research wrote a short report on a similar firm a long time ago. Their point was while they could not find anything illegal about payday loans the business was crazy volatile for almost no profit.
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  17. Or maybe you spend your money stupidly. Credit cards don't charge interest if you pay the bill immediately and they give cash back. And if there's something big you need (car, house, business, education) it makes logical sense to borrow
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  18. Technically loan shark refers to illegal lenders that will beat you up for defaulting.
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  19. Shut up. Get drafted
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  20. The guys that own these stores aren't rich. In fact, they barely make any money at all.
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  21. Not always too lazy. Petty criminals refuse to do math and get angry when you say too expensive because they plan to beg, borrow, steal when bills come due. I know people that do this
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