Advocacy Group Hoping to Head Off Rental Exemption in Budget Bill
Want to get fancy stuff quick? Try rent-to-own. New appliances, furniture, electronics. Weekly and monthly payments. And someday you own it. But you'll pay through the nose, says Bruce Speight from the Wisconsin watchdog group, WISPIRG, as his group found in a recent survey of prices of rent-to-own stores in Illinois
At a rent-to-own store on La Crosse's northside, we found that fulfilling a rental contract put you closer to fifty percent interest. The kind of disclosure that the industry is trying to avoid in Wisconsin. The legislature's budget writing committee this week debates a measure that would exempt rent-to-own from those types of consumer protection laws in the state.