Is this morally wrong?

**Gremlin** · 13th April 2011, 20:06

Originally Posted by Brett

Well that is a valid point to consider, DO we have a duty of care towards looking after other peoples well-being? I personally do not think that there is a yes or no answer to that.

Originally Posted by steve_t

Where do you draw the line between looking after them and removing their freedom to choose for themselves? Should ATGATT be made compulsory springs to mind

yeup... just how far do you go? Where does it end? It's the evil side of capitalism, but at least you choose (or you should)

**Blackshear** · 13th April 2011, 20:11

I'll assume they drive a big red truck.

Never been a huge fan of the lolinflation that they slap on everything with easy payments. Sure a very small percentage might be that strung for cash etc but shit...
It offends me, but then again I'm offended by odd things.

Like DTR, those greedy motherfuckers...

**marty** · 13th April 2011, 20:32

Follow in the Chrisco steps:

http://www.nzherald.co.nz/lifestyle/...ectid=10416709

**Mully** · 13th April 2011, 20:40

I guess they're providing a service and offering a product at a price and people are agreeing.

Without having stupid people, we'd have no-one to compare smart people with.

**steve_t** · 13th April 2011, 20:56

Originally Posted by Mully

I guess they're providing a service and offering a product at a price and people are agreeing.

Without having stupid people, we'd have no-one to compare smart people with.

LOL. It's the real Theory of Relativity

**marie_speeds** · 13th April 2011, 21:03

My older single brother recently asked me to enquire about washing machine for him... god forbid a man ever go shopping for a washing machine

So as his work has been erratic last few years, sometimes boss has some sometimes he doesn't, he asked me to check deals on HP. After traipsing for a day around the various appliance stores. The deals and interest were just ridicuous. I laughed when they told me 30% interest, plus admin fees of $150.00 plus compusory insurance etc etc etc I ended up buying the machine for a cash disount price myself and told him to pay me back, as and when he could afford to given how erratic his work has been. I don't believe HP is a bad thing when it is absolutely necessary to get something urgently required, but I am a bit concerned by the fact that given the current consumer buying trend, these stores are now preying on vunerable people to make up for the loss in their profit margins.

**Oblivion** · 13th April 2011, 21:12

The Hire-purchase agreement for some companies is just excessive. After a few years of regular payments, they can still end up owing more because of interest, when 3 months ago, they could 100% that shiny new GSXR-750 without HP. Its all for convenience methinks.

Like its already been said. There are no smart people without stupid people.

**Brett** · 13th April 2011, 22:16

Originally Posted by Gremlin

yeup... just how far do you go? Where does it end? It's the evil side of capitalism, but at least you choose (or you should)

Capitalism in its true form (as defined by economics) is where each individual unit (person, family, business etc) looks after their own interests and ensures that when it comes to a trade, that the cost paid equals that value (utility) returned. Thus in equilibrium, all parties to a trade are seeking to maximise their position and will only agree on a trade if both parties are better off to carry out such a trade.

In such a climate, those who are greedy would not get business because the other party in the trade would see no value in the trade. What we have now is either a case where individuals do not know or care about measuring valuing when looking at a trade or as was noted by someone earlier in the thread, the implicit value of being able to obtain a good worth $100 for $400 now rather than having to save for it is worth $300. That is an incredibly high premium to pay for convenience IMO.

**Mully** · 13th April 2011, 22:32

What bothers me more is the people paying through the nose for nappies and baby formula.

Consumer electronics are never a good investment, consumable goods are worse.

I'm not convinced that some basic lessons shouldn't be compulsory prior to receiving Government assistance. (sorry, OT a bit) And yes, I'm making a sweeping accusation that most of the customers of these trucks are on Government assistance.

**Winston001** · 13th April 2011, 23:50

Originally Posted by Laava

If you ask my missus on the other hand, she will tell you that as a 23yr old widow with 3 kids under 8, the only way she could survive was with HP on various things like fridge and washing machines! So HP has it's place as it goes but I am sure there are a load of people who enter into an agreement not knowing how much real debt they will accrue...

Agreed. We borrow to buy houses and businesses because we need those things. You have to have a roof, and a way to make a living. So if you need a fridge, then hp is the valid answer.

**Winston001** · 14th April 2011, 00:02

The thing is, most of us have no conception of life for some unfortunate members of our society. The halt, the lame, the sick, the naive, the different. People who just don't get it, and there are plenty.

A story: about a good-hearted older man earning sod all. He has a small collision and a $180 instant fine is issued. He can't pay, no savings. Pay it off? Well...sort of. He's waiting for the infringement to be prosecuted through the court, which means $40-120 fees added, and then he'll be able to arrange payments of $10wk.

I was struck dumb with the hopelessness of his situation. Yet he was cheerful enough simply accepting that's the way things are. He can barely buy food but would be straight over to help you.

**Brett** · 14th April 2011, 00:15

Originally Posted by Winston001

Agreed. We borrow to buy houses and businesses because we need those things. You have to have a roof, and a way to make a living. So if you need a fridge, then hp is the valid answer.

Geez, trying to borrow money from the bank to borrow for a business is like blood out of a stone at present.

**superman** · 14th April 2011, 00:31

These business models are everywhere. I wonder if it breaches general consumer rights where the price of the item must be reasonable to what you would expect to pay. However if this is a common in hire purchases through all businesses then it's just preying on idiots and wouldn't be a breach.

People have too much pride, if things are that bad that you need hire purchase food then just go into bloody WINZ and grab some food vouchers, it's not bludging if you are actually struggling to put food on the table for a good reason! Use the service you pay for!

**p.dath** · 14th April 2011, 10:17

There is no monopoly present. The Consumer is free to shop around and choose their options. So I guess I don't have a problem with it.

Also you are only considering the gross mark-up on a low value item. The net realisable income is likely to be much lower.