Cash Converters/Generators rip off tossers

[ilscuro]

I thought these type of shops were supposed to sell things cheap, my local store has GT6 for 25 quid I bought it for £15 from zavvi, and I've just bought a sigma 10-20 lens for £210 yet my local cash generator has the same used lens in at £399???
When I mentioned this to the staff they came across as completely disinterested.

Fuckin tossers

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[flumperino]

Yeah they're rip off merchants who basically prey on poor people to sell their goods for peanuts when they need to buy some milk, and then sell overpriced second hand stuff to the same people as they think they're getting a good deal, and may not use the internet that much to know any different.

I will find the very occasional bargain in one - I got a 120gb xbox hard drive for £15 a while back, and a Kinect for £25 recently, but 99% of the time their stuff costs almost the same, or more, than the retail price.

[{{909}}]

i don't really regard them as rip off merchants, you have the option to not shop there, if you are too stupid or lazy to look around that's your own problem.

The amount of shite they sell thats either fucked, stolen or both is a concern though and from what I hear, getting the morons in the stores to respond when you have bought duff gear is a task.

Their typical clientele must be a fucking nightmare to deal with though, every time I went past our local stores it was full of chavs mouthing off.

[Chubbs]

A friend sold a car to WeByAnyCar for peanuts.

The same day he bought a car from their sales side, WeSellAnyCar for far more than it was worth.

Neither transaction needed to happen but due to intelligence/lack of research those deals occurred.

[Geko]

Have never been in one...! Or even looked in the window.

[BigBird]

You can get a bargain in those places but if you're not clued up you can also get screwed because some of the prices are almost new retail.

Never sold anything to them and the most I've ever bought was a couple of books for 20p each ('Tommy Cooper Joke Book' hardcover and 'A Stranger Here Myself' which is Rab C Nesbit's autobiography written by his creator Ian Pattison) both of which were in A1 condition which I have read cover to cover and were well worth the 40p total. Always stick me head in and have a look because you never know what you might find. (">

[tiggerbiker]

A friend sold a car to WeByAnyCar for peanuts.

The same day he bought a car from their sales side, WeSellAnyCar for far more than it was worth.

Neither transaction needed to happen but due to intelligence/lack of research those deals occurred.

i do lots of MOT's for whebuyanybike and they buy bikes for almost scrap value, quite why anyone sells to them really is a mystery to me - would get double or more the cash with an ebay ad!
they recently brought in an aprilia sl1000 falco for MOT, the guy that dropped it off told me that he bought it from a guy in london for £600 and all they did was gave it a wash and polish - i told him it would get an advisory for tyre and brake pads but id be happy to buy it as is for £750, he said no because they have a guy coming to buy it for £2400.
even a mint, low mileage falco would struggle to fetch 2k - apparently it did sell and the new owner was very happy with it!!

[keyser666]

I had a mate who worked in there, he said wehn people brought items in they check what they are currently selling for on completed listings on ebay to get an idea of what the market price is in what people are paying. They then half that price and divide by 4 to give their buying price.

[Mule]

I had a mate who worked in there, he said wehn people brought items in they check what they are currently selling for on completed listings on ebay to get an idea of what the market price is in what people are paying. They then half that price and divide by 4 to give their buying price.

Divide by 8? Seems a bit low.

[BigBird]

Divide by 8? Seems a bit low.

Cash converters are a business. If it was your business and you could get away with buying stuff in at the divide by 8 price, wouldn't you. People are obviously selling them stuff for that low price so why offer more. I know its sometimes taking advantage of people who are desperate for cash for drink or drugs or just because they are struggling to pay the bills, but if cash converters didn't buy their stuff for a ridiculously low price I'm sure some stranger they meet in a pub will be happy to oblige.

These cash converter stores must be rubbing their hands with glee with the government benefit reforms and more and more families struggling to make ends meet. Some reforms may have been necessary because some people just take the piss but there are many families who through no fault of their own are finding themselves in desperate situations. (">

[Mule]

So they'd pay £10-£15 for a PS3?

[BigBird]

So they'd pay £10-£15 for a PS3?

If people are prepared to accept that then yes I suppose they are. Not saying its morally right but they are a business, not a charity, and I can't think of many businesses that pay more than they have to for their stock. They may have a 400% mark up when they sell the items but so do many of the items we buy from Tesco, Marks & sparks, Next, Topps Tiles, etc. Almost if not every retail store in fact. (">

[Zippeyrude]

ive bought a wii from cash generators before, was 2 quid and in fab condition

the online store is best, seem like pricing is at the managers discretion so there are huge regional varations

[lloydi]

you also have to think that people are willing to trade in multiple items to get one item, for example if someone wants an Xbox 360 which is marked up at £100 (typically £60 on ebay) but they dont have the cash they will trade in 4 items worth maybe £150 total on ebay and walk out with the Xbox, they are happy beacause they got their £100 xbox and didnt have to shell out anything. Cash converters are laughing because they probably bought the Xbox for £30 and now have £150 worth of stuff to sell. Eventually it all adds up to a tidy profit for them, not all overpriced items are sold for cash.

[keyser666]

So they'd pay £10-£15 for a PS3?

People in desperate need havent time to sell on ebay and the like. The market value of something on ebay is not a lot as it is and why would a company pay more for something than they can buy from ebay themselves?

I do remember he said if you brought it iun on buyback/pawn an item then they give you more as that is free money to them, something like £30 on every £100 bought against every item