Foobarista sent me an email yesterday telling me about a company called BlueHippo, which “sells” computers to people without a credit check. All you have to do is pay a set up fee of $99.00 and then pay their “low” weekly payments for 52 weeks and the computer is yours. Oh, and if you pay for 13 consecutive weeks, they’ll help you out by “financing” the remainder of your balance for you. I have no idea what those financing terms are, but if they are anything like the price of their computers, I’m sure they are horrible!
Here’s an example of what I’m talking about:
Here’s one of the computers that BlueHippo is currently offering:
So, you have to pay over $1,200 for this machine and it DOES NOT include a monitor! Not only that, this computer is out of date. A 40 gig hard drive? Come on! Just to give you something to compare this to, I went to the HP website and found this computer:
This price DOES include a 15-inch flat panel monitor as well as a 160 gig hard drive and a few other upgrades.
So, if you could afford to save up $21.99 per week, the MUCH BETTER HP 1510y computer could be yours in 38 weeks and that’s without the $99 up-front fee!
If you have bad credit or are low on funds, the ONLY way you will ever get ahead is to avoid companies like BlueHippo and rent-to-own companies, that disguise themselves as “helpers” but are really wolves in sheep’s clothing. On other words: save up first, then buy!