In re: A really good scam.

I love a good scam, and recently I noticed a commercial for BlueHippo computers, which are apparently made on a low budget, proclaiming that you too can buy a computer even if you don’t have good credit.  The ‘deal’ is a rip off, a complete scam, (see Wikipedia entry) that gets you to pay way way way more then the computer is worth, considering that the computer they are selling could be bought used probably for less then $200 the idea of getting some idiot to spend $2000 is pretty unbelievable.

Unlike other financial companies, BlueHippo® doesn’t check your credit and measure you based on some score. Instead, all we ask is that you build a little credit history with us by paying a one-time initial fee of $99.00, followed by 13 short weeks of consecutive layaway payments of just $39.99. Then, we can offer to finance the balance of your purchase price, order your computer and have it shipped directly to your home. It’s that easy!  “

Not clear why the 13 weeks is short, but if you add up those 13 weeks of payments your talking about buying a computer, only to keep paying $39.99 a week for the rest of the year.  I hope some folks are buying these, because that would restore my faith in the stupidity of our race (see story of one such person). Thankfully some folks who were taken have pursued the company in a class action and WV attorney general has also brought suit.  See also BlueHippo: The Extreme Layaway Plan

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