Quote:
Originally Posted by Gulliver
VAT was a consequence of us joining the Common Market (nowadays the EU). We had to "harmonise" our system to fit in with the trading bloc.
TV rental survived a long time because until quite recently televisions were expensive items. Even into the 90s when the cheap Chinese built "no name" brands came along, most branded units were costly. It was not uncommon in the 80s for a TV to cost £400 of 80s money, I would think well over a grand today. I can well see how many families would choose to rent rather than buy even after sets became very reliable. Especially if they were renting a VCR and possibly washing machine too.
All these things, at the low end of the market anyway, are so much cheaper now that the rental market has disappeared. I imagine there's still money to be made repairing washing machines however, given the trouble I seem to have with them.
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Thise on a tight budget who would have rented back in the day now probably buy, borrowing money at very high interest rates. E.g. This from
https://www.brighthouse.co.uk
Representative example – 32"- 42" TVs (Refurbished)
Weekly Payment
£2.00
Product Price
£60.32
Delivery & Installation
£65.00
Product Price Including Delivery & Installation
£125.32
Number of Weeks
99
Annual Fixed Interest Rate/Representative APR
69.9%
Total Payable
£198.00