Vicious Cycle

Most people have been in a shaky financial boat for some time now.  It’s hard to get a loan to buy a house, a car, or even to get a credit card.  What if your refrigerator, stove, or other essential appliance craps out on you and you need a new one?  You don’t have the available cash, your credit cards are maxed out, you can’t get approved for a new credit card, and the Appliance Fairy isn’t knocking at your door.  Do you spend a dollar on a lottery ticket and hope for the best, or do you do what many people are being coerced into doing and rent to own your new appliance?

That’s wha t this infographic is about.  And though it’s from the UK and the money numbers are in £ instead of $, you get the idea that for the price you end up paying for that appliance, you could have bought two or three of the same.

Inflated Prices

A high price for a washing machine (in the UK) is £470.  If you pay to rent to own, you end up paying £1250.


The APR on a rent to own appliance can be as much as 49.9%.  That’s compared to 4-6% for a school loan, 10% on a property loan, etc.

Saving vs. Rent to Own

If you save the equivalent of £5 per week for 50 weeks, you can buy a new washing machine, TV, refrigerator, or “cooker.”  If you go the rent to own route it could take you as many as 150 weeks to pay it off.  Think smart and cut back on the lattes.  You can buy your new appliance outright in no time.


Design:  B

It’s OK, but not stunning.  The colors are sort of annoying, but the graphics and text are clean.

Information:  A

Pretty cut and dry, really, but gets the point across.

Source:  Appliances Online