BONDI RADIO RENTALS BRANCH CELEBRATES THIRD YEAR OF TRADING AND CUSTOMERS CASH IN ON $1 BUYOUT DEAL

The Bondi branch of household goods rental company, Radio Rentals (Rentlo in SA), is celebrating its 3rd birthday, with the milestone also signalling the first customers reaping the additional rewards of a rental lease with a difference.

This anniversary also triggers the first wave of $1 buy-outs for customers who signed a 36-month rental agreement for their goods and are now eligible for the firm's unique Rent, Try, $1 Buy™ whereby the customer has the option to purchase a similar product for just $1.

The nationwide retailer first opened the doors to its Bondi branch in June 2008, offering eastern suburb residents the opportunity to furnish their homes with essential appliances without the burden or over-commitment of finance re-payment.

From its humble beginnings as a casual lease the store has grown to service nearly 800 customers, with fridges and washers rented together often the most popular rental package for Bondi residents. Other well-purchased products in the Bondi store are Radio Rentals' range of furniture packages for the bedroom and the lounge.

Bondi store customer, Christian Alvarez, lives in the eastern suburbs with his wife and two children. Three years ago he found himself in urgent need of a fridge and washing machine and, finding himself unable to pay for the goods outright, he selected to sign a 36-month contract with Radio Rentals. He is now owns the appliances, having paid just a dollar a piece for their final purchase.

Christian comments: "We found that renting worked for us at a time when we had no other option. The added value of free service that you get from your rental agreement makes it worthwhile, especially when you get to own the goods at the end of your contract. I think it's great that my appliances are now mine to keep."

Christian has just committed to new 36-month rental contracts on a LCD computer screen and a laptop to take further advantage of the Rent, Try, $1 Buy™ incentive.

On the success of the branch, Bondi Store Manager Marianna Paltikan comments: "Consumers are keeping a tighter control on their cashflow in these tough economic times and for those who have experienced credit history issues in the past, debt-finance methods simply are not an option. Our Rent, Try, $1 Buy™ programme is a major strength for our business and makes renting a genuine alternative.

"But it is not only the credit constrained that we count amongst our customers in Bondi. We are located in an affluent area, and we find that many of our customers are seeking to rent because they have come from overseas or have just moved out of home. The mix of people who live in Bondi is diverse, and we have rental packages to fit all requirements."

Rent, Try $1 Buy™ is the only rental contract buy out scheme of its kind on the Australian market, giving Radio Rentals/Rentlo customers completing a 36 month rental contract the opportunity to negotiate a buyout price of $1 for an appliance, or one of a similar age, dimension and design.

The company is also famed for its 'No Knock Back' guarantee and 'Your credit history is history' campaigns, which give customers the ability to access the products they need, regardless of their past. This is strongly underpinned by the company's Responsible Rental Policy, which ensures that Radio Rentals/Rentlo customers have access to flexible rental agreements that suit any budget, lifestyle or need.

About Radio Rentals
Established in 1937, Radio Rentals is Australia's largest household goods rental company operating from 80 stores and employing more than 500 members of staff. Radio Rentals trades in all states and territories except South Australia, where it trades as Rentlo, a new and growing arm of the business which currently comprises six stores. Radio Rentals' extensive range of electrical and household products includes flat panel TVs, PCs, whitegoods such as fridges and washing machines, computers, furniture and gym equipment.

Radio Rentals/Rentlo is owned by The Thorn Group, one of Australia's leading providers of retail and financial services to consumer and commercial markets.