Okinus Credit Solutions Be aware of the costs of doing business with Okinus Georgia

I recently applied for a LTO with Okinus.  The company I was buying from suggests them as a financing option.  Once I filled out the application, I was notified that I was approved.  The loan amount was 5804, and my payment option was $270/month for 48 months.  Now you might look at that as doable.  I warn you, if you are reading this, do the math. 

You are paying 48 payments of $270 which work out to $12,960.  That's $7,156 OVER the costs of the item.  That works out to you paying 223% interest on your money.  That's payday loan scam money.  When you are doing any LTO (lease-to-own) look at the long term costs, and not just the affordable payment.  It is purposedly designed to have you look at the payment per month and not the long term costs of the agreement. 

I would have bought my item twice, and paid almost 25% on another one.  I know they have to make money, but it is well beyond what is reasonable and think twice before you committ to this astonishing deal.  It may take longer, but save your money, do extra work, whatever it takes to pay for it upright, and contact and get credit counseling on how to improve your credit. 

Don't go to anyone who tells you they can remove bad information off your credit because some of it has a legitmate right to be on your report and cannot be removed that easily.  Shame on you, Okins, taking advantage of bad credit folks like that.