Computer Scam
I keep hearing ads on the radio where fly-by-night financing companies are promising to sell you a “brand-name” computer even if you have bad credit. It’ll only cost you $29.99 per week for one year.
My handy calculator tells me that this would come to $1557.40. If someone really wanted a computer and could afford $29.99 per week, they’d do a lot better saving that money and buying the computer outright. I’d bet that these scammers are making at least $500 in interest on top of selling the computer at an inflated price. As an example, eMachines has a 2.7GHz Celeron model (T2742) with just about all the features you’d reasonably need for $449.99 (and there’s a $50.00 mail-in-rebate as well). Figuring in tax (I used the typical Texas rate of 8.25%), it would only require about 17 weeks of savings and would save $1049.65 over the total cost of the one from the scammers (I left out shipping costs, since there are a couple of retail outlets that carry eMachines).
If you’re ethically lacking, I suppose this would be a good business to get into.
April 30, 2004
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Posted by Aubrey Turner
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