As an educated consumer you may wonder why people would choose to use a Refund Anticipation Loan when they can e-file and receive their refund in only a few days.
Here’s a perfect example of what a ripoff rent-to-own or “lease-purchase” (to use the Kelly’s phrase) arrangements are to the consumer. This $250 Wii console can be yours for only $79 a month, and after 12 months, it’s yours to keep. By that time, you will have paid $948 for it. By comparison, if you charged it to a credit card with 18% interest, you could pay $23 a month and have it paid off after 12 months. Kelly’s offer will cost you $673 more than paying with the credit card.