Are there any legit lease-to-own GPU sites?

[pootissandvichheavy]

I don't really want to drop a whole ton of money at once on a 1070/1080, so I was wondering if there are any legit sites that do that but don't rip you off. EVGA does it, (and will be a last resort), but I was curious about other sites. I heard other manufacturers do it but I'm not sure where and how to pay monthly like that.


I was looking at https://www.myleaseking.com/ but there are no reviews on this site which makes me VERY weary of getting a card from there, although it is very tempting since they don't add any fees/APR from what I saw.

 

[g-unit1111]

Not that I'm aware of and even if you could, why would you? Lease to own on items like this is one of the biggest scams out there. In many cases if you lease to own you wind up paying double or triple the initial amount when all is said and done. Take for instance a 1080 which currently retails for $490 depending on the model. If you were to break that down into monthly payments of say, $32 a month, for 24 months:

$32 * 24 = $768.

That means you're paying $278 OVER the current retail price. And by the time you're done paying that off, said card would be way past obsolete and you will be moving onto the next card. Does that sound like a wise investment? I know I wouldn't. Also be extremely careful of sites like this because if you miss a payment your item will most likely be reposessed and resold, which in turn would absolutely wreck your credit rating. And that's something that you don't want to risk just for something like this.

 

[USAFRet]

Are there any legit lease-to-own GPU sites?

By default, no.

They are giving you financing, not a GPU.

From the site you linked, an EVGA 1060 is $27/month.
For how many months? They don't tell you...
36 months is a typical length until you "own it".
You do the math...

 

[pootissandvichheavy]

Yeah exactly, most sites don't tell me what I'm paying per month or how many months I'll be paying it. I did the math with EVGA, for a 1080 Gaming with Affirm they are wanting to charge me $46.62/mo for 12 months, if we do the math it only brings it up to $559.44 when everything is said and done. I can probably live through the about 30ish bucks extra compared to the MSRP, but I can think about it. The one thing that has me confused is will I get my GPU once I start the payment cycle or do I have to wait 12 months for it?

 

[Shoomer]

I found one review and...er...it's not good. https://www.bbb.org/us/ca/tarzana/profile/financing/my-lease-king-1216-646964/customer-reviews

 

[g-unit1111]

Yeah exactly, most sites don't tell me what I'm paying per month or how many months I'll be paying it. I did the math with EVGA, for a 1080 Gaming with Affirm they are wanting to charge me $46.62/mo for 12 months, if we do the math it only brings it up to $559.44 when everything is said and done. I can probably live through the about 30ish bucks extra compared to the MSRP, but I can think about it. The one thing that has me confused is will I get my GPU once I start the payment cycle or do I have to wait 12 months for it?

No you'd start payments immediately. Most sites would at least tell you what you're paying per payment cycle, at least like the site you previously linked to. A good majority of the time though you're getting scammed if you try this, and that's where the lease to own industry thrives. I looked at some of the items on their site, probably the most ridiculous was the iPad, which they wanted $49 per payment cycle for - at 48 payments. So if you did the math:

$49 * 48 = $2,352.

And that's not including tax and shipping, for an item that normally retails for $799. Which means that you would pay $1553 over the MSRP. So take that into account with any lease to own program, do your research before you buy.

 

[USAFRet]

Yeah exactly, most sites don't tell me what I'm paying per month or how many months I'll be paying it. I did the math with EVGA, for a 1080 Gaming with Affirm they are wanting to charge me $46.62/mo for 12 months, if we do the math it only brings it up to $559.44 when everything is said and done. I can probably live through the about 30ish bucks extra compared to the MSRP, but I can think about it. The one thing that has me confused is will I get my GPU once I start the payment cycle or do I have to wait 12 months for it?

You need to read the fine print to actually determine. ALL the fine print.
And if you don't get it until after the payments are done....you then have a brand new GPU that is already a year old.

And because you did the math does not mean you will get it, or at that price. They do a credit check. A low credit score might mean more $$/month. Or outright denial.

 

[USAFRet]

By definition, lease to own sites like this are an expensive scam.

By definition.

 

[g-unit1111]

And because you did the math does not mean you will get it, or at that price. They do a credit check. A low credit score might mean more $$/month. Or outright denial.

Yup, credit card companies get away with this all the time. John Oliver did a good break down of how the credit score and sub prime loan industry screw over customers by manipulating the numbers. I won't link to it out of the GRAPES rule but search for his one on sub prime auto loans, it's well worth watching.

 

[USAFRet]

Your desired 1070 GPU.

MSI GeForce GTX 1070 AERO ITX 8G OC

Retail from Newegg - $410
https://www.newegg.com/Product/Product.aspx?Item=N82E16814137092

Payments to your linked site - $39 * 36 = $1404
https://www.myleaseking.com/details.php?products_id=5483


They are selling you financing, not a GPU.