I'm sure everyone's seen the Blockbuster commercial about 'the end of late fees'. When I saw it, the phrase 'an extra day or two' caught my attention, so I decided to check out the actual details.
Here's the fine print; hopefully this saves someone from finding out the hard way...
(from the site)
"What are the full movie and game rental terms now that BLOCKBUSTER® has stopped charging late fees?
A: Movie and game rentals are due back at the date and time stated on the transaction receipt. There is no additional charge if a member keeps a rental item beyond the pre-paid rental period. However, if a member chooses to keep a rental item more than a week after the end of the rental period, Blockbuster will automatically convert the rental to a sale on the eight (8th) day after the end of the rental period. Blockbuster will charge the membership account the selling price for the item in effect at the time of the rental. The selling price will be discounted by the amount of the initial rental fee paid by the member at the time of rental. If the member returns the item within 30 days of the sale date, Blockbuster will credit back to the membership account the amount previously charged to the member’s account or the member’s credit card, as applicable, for the selling price of the item, but the member will be charged a minimal restocking fee. All rental items must be returned to the proper BLOCKBUSTER® store. These rental terms are subject to change without notice at any time. Participating stores only. Additional membership rules apply for rentals. See participating BLOCKBUSTER store for details."
After reading that, the ad seems pretty misleading. I probably wouldn't think it so dishonest if they subtracted the original rental fee from the sale price and if the sale price was competative with local markets. However, seeing as how they already sell used DVD's at new DVD prices, I wouldn't be surprised to see their 'selling price' at $40 or higher per movie. I remember paying $80 to replace a VHS tape about 10 years ago, so it's not that far fetched - they calculated the price based on their cost PLUS the income it brought in, not just what they paid for it.
Here's the fine print; hopefully this saves someone from finding out the hard way...
(from the site)
"What are the full movie and game rental terms now that BLOCKBUSTER® has stopped charging late fees?
A: Movie and game rentals are due back at the date and time stated on the transaction receipt. There is no additional charge if a member keeps a rental item beyond the pre-paid rental period. However, if a member chooses to keep a rental item more than a week after the end of the rental period, Blockbuster will automatically convert the rental to a sale on the eight (8th) day after the end of the rental period. Blockbuster will charge the membership account the selling price for the item in effect at the time of the rental. The selling price will be discounted by the amount of the initial rental fee paid by the member at the time of rental. If the member returns the item within 30 days of the sale date, Blockbuster will credit back to the membership account the amount previously charged to the member’s account or the member’s credit card, as applicable, for the selling price of the item, but the member will be charged a minimal restocking fee. All rental items must be returned to the proper BLOCKBUSTER® store. These rental terms are subject to change without notice at any time. Participating stores only. Additional membership rules apply for rentals. See participating BLOCKBUSTER store for details."
After reading that, the ad seems pretty misleading. I probably wouldn't think it so dishonest if they subtracted the original rental fee from the sale price and if the sale price was competative with local markets. However, seeing as how they already sell used DVD's at new DVD prices, I wouldn't be surprised to see their 'selling price' at $40 or higher per movie. I remember paying $80 to replace a VHS tape about 10 years ago, so it's not that far fetched - they calculated the price based on their cost PLUS the income it brought in, not just what they paid for it.
