One of these shops, like a good few other shops in Motherwell, that plays upon the fact that people can't just hand over a few hundred quid in the one go for a telly or a laptop, and so offers a 'buy now pay later' style of shopping.
BrightHouse draws you in because of it's clean and, well, bright exterior, displaying the range of Tv's and goodies in the huge glass windows which are covered in stickers and posters telling you that you can get all this for a low payment each month.
What it doesn't stress is that the Interest and APR is phenomenal. An example: A 42 inch Philips Flat Screen TV would cost you a pricey £1196 if you bought it and paid for it there and then, but if, as you are encouraged to do instore, you pay it up for 156 weeks, it would cost you £1723 with the added 29.9% APR added. That's an extra £527!
The staff in here must be on comission or something, because as soon as we walked in they pretty much jumped on us, trying to tempt us with talk of 'low repayments' which would be music to the ears of that mum with 4 kids who just can't afford the flash telly at that point in time.
Just another dangerous scheme which gets folk into unmanageable debt, fine if you are buying something there and then, but I get the feeling that's not the aim of the shop at all. read more