Nov 22, 2005 8:57 pm US/Central
Getting Out Of Contracts
by Clif Caldwell
(CBS 11 News)
What's the common complaint with cell phones, shiny new leased cars and workouts? Most people ask the question, "Why do we have to have a contract?"
Contracts are there to ensure we pay companies for the cars after the gleam is gone, our cell phones are dropping calls and the iron is no longer being pumped.
Stewart Thomas negotiates contracts and he says, "They want a long-term relationship, the consumers are looking for instant gratification."
Thomas says short-term thinking can prevent long-term satisfaction. "Make sure you know what you're getting into."
Getting ready to workout is a lot like entering into a contract. When you're loading the weights, just like when you're signing the contract, is the time to ask lots of questions. If you don't and there's too much weight or a bad deal you might be stuck.
Nola Schrum says she bought a contract for personal training. She only used a few sessions before joint pain made hitting the gym impossible. She lost $1,500.
"I didn't get the product that I purchased and I'm unable to use that product."
Schrum says she wrote several letters to the fitness company but was given a run around and despite promises, no refund!
"You get tired of fighting and realize nothings going to come of it and you let it go."
David Blassingame is with Autoflex. It leases and sells vehicles. Blassingame says people shouldn't sign leases that are too long for them or try and save money on miles.
"Automobile leases are not designed to be early terminated they're designed to go full term."
Blassingame says, "Sometimes people cut back on miles because it makes the payment less but you should never sign a lease for less miles than you plan to drive the car."
There may be an easier out for cell phone users. Celltradeusa.com trades on one person's junk being another's treasure. For $20 they offer you a chance to get out of a contract, if someone wanting to get in is willing to take it over.
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