Rent-to-buy goods warning

Struggling families taking out deals on “rent-to-buy” household goods can end up paying out more than double the prices offered by high-street retailers, claims a report by Barnardo’s.

The children’s charity voiced “strong concerns” about the rent-to-own credit sector and said companies should be compelled to display the average internet and high street price of the product they are providing.

This should include the initial product price and optional service cover, said the report titled A Vicious Cycle: The Heavy Burden Of Credit On Low Income Families. The report argued that some rent-to-own credit providers make comparisons difficult by not consistently providing the manufacturer model numbers of items.