if you sign up to a lease with Radio Rentals on a Try /Buy for $1 scheme, then at the end of the lease it should be your right to buy the item for $1, not some outlandish negotiated amount set by Radio Rentals.
my understanding is that Mrs Casey was of the opinion that the payments would stop at end of lease and she could own the product outright for $1.
wasn't she in for a shock!
look, i was sort of OK with the antics of TGA until i heard about this. as you know, i wasn't real happy with the 50% PA interest they were charging on their appliances in the first place, but i thought that even so, if the consumer ended up with the goods at the end of the lease period for a buck, then that was , i suppose reasonable.
but i got the shock of my life- these cretins are basically charging 7 times the price of an item after 36 months lease by renegotiating with the consumer to actually buy the item off radio rentals, rather than getting it for $1.
the ceo of TGA states that this case could drag on for years. the legal bills for TGA will be astronomical and the brand name will be damaged.
also, there is a lot of suspicion with share price activity and ASIC are getting very interested.
this has the fundamentals of a perfect storm.
best to seek shelter.
cheers crazypunter