# Easy payment plan



## Son_of_Perdition (Dec 6, 2015)

My wife got an advertising flyer over the weekend.  One of the ads was for a walk in tub.  She wants to replace the jetted tub that was in our home when we bought it.  The ad went on to explain the costs.  We would be required to pay 1/3 down and could finance the remainder at 9.9% for a period of 10 years (120 months) with payments of $150.00.  If it wasn't so laughable and ridiculous I shudder to think how many poor souls have fell for that ploy.  I know you could all pay it off immediately but there are a few of us who would be at their mercy.  

Curious as I am I went on my favorite calculator site and plugged in numbers.  Backward figuring armed with the interest rate, the length, the percentage down and the easy payment amount, I arrived at an original cost of $17,100 for the tub.  $5,700 down and finance $11,400 at 9.9% for 10 years.  Total cost with interest would be $23,700!  Who in their right mind would fall for this legal scam?


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## Shalimar (Dec 6, 2015)

Perhaps someone who was unable to buy a hot tub in any other way?


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## jujube (Dec 6, 2015)

The same people who fall for the "rent-to-own" furniture, appliances, wheels and jewelry.   I figured out one time that you'd pay $1800 for a $500 television set.

Of course, one could say that this is the only way for a person to have a television set, but I maintain that if the only way to get a $500 television set is to pay $1800 for it over time, then you don't have any business _getting_ a $500 television set.  This kind of thinking is what gets people in financial trouble in the first place.  Just go to a thrift shop and get a big old heavy TV set for $50.  You can still watch your shows and you've saved $1750 that you don't have.  

And don't get me started on people who have to have a $3000 set of fancy wheels on a $2000 car.


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## Son_of_Perdition (Dec 6, 2015)

Shalimar said:


> Perhaps someone who was unable to buy a hot tub in any other way?



First, it's not a hot tub, second you can purchase one on ebay, for just under $1,150.  

http://www.ebay.com/itm/HealthSmart...hash=item3ab5e9508a:m:myamho4w6mGKtK943MPqkWQ

Point I was trying to make is how vulnerable seniors can be if they don't read the fine print and crunch numbers.  If they can't do either then there are plenty of senior advocates that can do it for them.


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## Shalimar (Dec 6, 2015)

Oops, walk in tub indeed. Should wake up before posting. Lol. Re buying things on payments. Some seniors lack the funds to buy some things any other way, either due to a shortage of ready cash, or lack of credit cards. This does not always indicate 

poor budgeting, or financial incompetence. Who are we to judge whether or not they should pay exorbitant interest rates in order to have some expensive quality items to add to their enjoyment of their golden years? Providing they are able to make 

the payments without unduly compromising the basic necessities, that is their choice. We all deserve to have something new occasionally.


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## Son_of_Perdition (Dec 6, 2015)

You are condoning this type of 'senior' abuse to go unchecked, (caveat emptor).  Financial exploitation is considered senior abuse here in the US.  It's no wonder that seniors are the fastest growing segment of bankruptcy filings in recent years.  I now read the fine print and take time to think before I make any purchase that isn't an emergency.  Nuff said.


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## Mrs. Robinson (Dec 6, 2015)

Every time I see one of the commercials for these things,I wonder just how much they are. Anytime they don`t state the price,you know it`s up there. I wonder what the cost is to install one. Of course,it would vary according to what your current setup is- and then I imagine it`s not unusual for them to find dry rot or other such things behind whatever it is they are removing,so the costs will go up from there. I`ll bet some people end up with a $30,000 tub!


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## Shalimar (Dec 6, 2015)

I am not condoning senior or any other abuse Son. By all means disagree with my position on this issue, but please do not attack my value system.  I am dealing with the reality that even those of us compos mentis, senior or otherwise who have 

limited finances sometimes buy things on time because that is the only way we can afford them. That is how I bought my washer and drier when my kids were little. A senior friend did the same thing  to purchase a wd for her and her husband.


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