Aaron's Lease to Own - How to Buy a $1,300 Playstation - page 3

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Aaron's also lease-to-owns a 55" Samsung LED 1080p HD tv

For this item, Aaron's "Everyday Low Price" is $1649. That's $150 more than the same TV at Best Buy.

For leasing it to own, Aaron's charges $119 per month for two years, or $2,903 in payments ($109.99 x 1.1 x 24 = $2,903.73)

If you used the Best Buy Credit card, you'd pay it off in 17 payments of $109, $1,826. I should add, though, that Best Buy won't charge you that interest if you pay off big home theatre purchases like this in less than three years.

Refrigerator - 16 cu. ft.

Aaron's - $974.99 cash ($64.99 x 1.1 x 24 = $1,715 total payments)

Best Buy had a slighly larger 18 cu. ft. Fridgidaire fridge for $569.99. This is more than $400 less than the cash price at Aarons.

Dyson Animal Vacuum Cleaner

Aaron's - $809 cash ($89.99 x 1.1 x 12 = $1,187.86 in payments)
Best Buy - $599 cash

Kitchen Table Round with four chairs
I'm not sure why, but this little round kitchen table made me more upset than all the electronic stuff. I guess it's because people with bad credit actually need tables and chairs. Aaron's had this set available for $543.88. A used table and four wooden chairs, $543?

The lease-to-own plan was for 12 months: Twelve $64.76 payments for a total of $777.
Aaron's - $543.88 (used) ($58.88 x 1.1 x 12 = $777.21 in payments)

For comparison, a regular furniture store, Beck's across the street, offered this table for $399.

It was much nicer, with wrought iron, upholstered chairs and an inlaid veneer top. And it was new.

Ikea is my first option for furniture, just because I've spent so much time there. Ikea offers a nice BJURSTA table for $229 and INGOLF chairs for $59.99 each. $229 + (4 x $59.99) = $468.96. Again, that's for new furniture, although you do have to assemble it yourself.

Summary
Aaron's is pretty much the worst place to buy furniture, televisions, appliances or a Playstation. All their stuff is totally overpriced. They stay in business because people with bad credit have rotten options for large purchases.

If you are considering leasing something in a place like this, try buying used furniture on Craigslist, or using layaway services at Kmart. With layaway, you won't get to use your television until you pay for it, but you'll pay just a tad over the regular price, instead of three times as much.

And if Aaron's Lease-to-Own is your only option, I hope you get back on your feet soon, because lease-to-own is an expensive way to afford something.

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