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Dell accused of using "bait and switch" advertising with PC financing

This week New York Attorney General Andrew Cuomo filed a lawsuit against Dell Inc. According to the claim, Dell deceived customers by using "bait and switch" advertising practices to lure in new business. Cuomo claims that Dell advertised zero percent financing, but at the time of purchase switched over to a high interest rate plan without notifying the customer.

Cuomo claims that that while one or two customers are minor problems, a large number of customers have complained about the same issue. Cuomo told reporters that his office "received an unprecedented number of complaints against Dell, approximately 700 and the numbers keep growing."

Representatives from Dell say that the claims are uncalled for and unjustified. "We are confident that our practices will be found to be fair and appropriate," indicates Dell spokesperson Bob Pearson.

According to Pearson, the Round Rock, Texas-based company is innocent of all wrong doing, but did indicate that a limited number of customers complained. "While even one dissatisfied customer is too many, the allegations in the AG's filing are based upon a small fraction of Dell's consumers transactions in New York," says Pearson.

Pearson indicates that while many applied for Dell's zero percent financing option, as many as 85-percent of those applied did not receive the plan. Paul Reisner was one of many who were not offered Dell's promotional plan even though he has an excellent credit rating.

"Why did I not qualify for promotional financing?" asked Reisner. "I own my own home, always pay my bills on time."

Over the last several months, the spot light has been put on Dell more than once, but unfortunately not for good reasons. Most recently, Kevin Rollins resigned as Dell's CEO, throwing quite a surprise to many outside of the company as well as those within it. Rollins was credited with much of Dell's recent success but also blamed for the loss of market share to rival HP.

Late last year, Dell was sued for allegedly supplying incorrect processors to customers. Zhan Min filed a suit against Dell after contacting Dell to try to rectify the situation. Min reported that Dell shipped him a laptop with an Intel T2300 processor but advertised a T2300E -- the difference being Intel's Virtualization Technology. When Dell told him that there weren't any differences between the two processors, Min sued.



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Credit problems?
By kibets on 5/17/2007 3:45:41 PM , Rating: 5
If you have excellent credit you will get attractive financing. Those unfortunate souls with average to poor credit will pay dearly. Not only at Dell but any company engaged in the business of offering financing.

No news here.




RE: Credit problems?
By wallijonn on 5/17/2007 4:17:02 PM , Rating: 5
quote:
If you have excellent credit you will get attractive financing.


If you have excellent credit chances are that you can pay cash for the full amount. Therefore a 0% finance rate can be used to sway the customer to make the purchase, so that the customer can use his money elsewhere. But baring that, why bother buying from Dell?


RE: Credit problems?
By caqde on 5/18/2007 3:14:32 AM , Rating: 4
Wrong. Sorry, but I have excellent credit and guess what I make 0, nothing, nada, zip (Full Time Student: live off loans). Thats right I don't have a job. Credit is not based off of your income alone or even that large of a factor. It's your ability to pay your bills on time and prove that you can keep promises that builds credit, not how much you make.

Although it is possible for a person with a high credit to put that new computer on a brand new credit card with a 0% introductory apr though, but it is wrong to think that they can just pay cash for it. Credit != Income.


RE: Credit problems?
By Xerstead on 5/18/2007 4:21:05 PM , Rating: 2
I used to deal with a few different finance options when i worked in sales.
The Banks charge the retailer to set up a Defered 0% interrest option, I cant remember if i saw the figures but believe it was in the region of 5-10% (will vary between banks etc) but the banks will PAY the retailer to set up a 'interest from day 1' as the bank will make money from it.

The above was covered in one of our sales meetings. We were meant to get people on the 'from day 1' option but the company heavily advertised the 'interest free' option to get people through the door.

It is possible that the company decides your credit rating is too high and you will pay off the amount before the interest kicks in. If you did this they could stand to loose money on that sale depending on profit margins etc. So they offered you a higher rate they could make money on.


RE: Credit problems?
By Rugar on 5/18/2007 5:50:43 PM , Rating: 2
I'm not sure that this is how Dells deferred interest options are written. There are lots of banks that gladly write the "x days, zero interest financing" paper because they are playing the odds and willing to pay to do so. The number of customers who actually pay off the full principal amount within the specified time limit is actually fairly low. Less than 20% in the company that I actually know the details about. And therein lies the reason why banks are all hot and bothered to write these "x days zero interest" notes. When the customer fails to completely pay the interest off in the specified time period, the "deferred" part of the deferred interest kicks in. The bank retroactively calculates interest for that time period and applies it to the principal. Not only is the bank now charging interest for that zero interest period, it is often at a rediculous sub-prime rate approaching 20 - 30%.

So...
Buy a $1000 computer at "zero percent interest for 1 year!".
...
Fail to send in the final payment on time causing it to be 1 day late.
...
The lender is within their rights (and many WILL do this immediately) to calculate interest for the year and apply it to the principal. So... let's say you have a nice, friendly lender that only charges 19% simple, non-compounding interest. On day 366 of your $1000 loan, your total due (less payments made of course) suddenly becomes $1190 and not $1000. Why do you think sales clerks are all instructed to sell the financing plans? You pay in cash means everyone loses the chance to make extra money off of you. Financing means everyone gets a nice little bonus except for you.

Oh yes, banks will gladly write these notes and will often provide "incentives" to the companies based on percentages of customers who fail to pay off the note in time.


RE: Credit problems?
By arazok on 5/17/2007 4:21:00 PM , Rating: 3
I have a flawless credit rating, but have never gotten even close to the advertised "as low as 9.99%". I have financed two computers over the past few years, and Dell has never given me less then 16%.

The worst offence I have seen is when fishing for a coupon code to enter. I was looking for a laptop, and after seeing the "Enter coupon code" option, decided to goggle it. I found several sites offering $100 off the price of the same laptop I was building, so I gave it a whirl. These coupon sites direct you to Dell using a special URL containing the coupon # so it can be claimed. Well, Dell just inflated the price of the laptop by $100, and then applied the coupon. I opened two browsers and built the SAME computer - one with coupon, and one without. Same price.

In Dells defense, I did see other coupons where this did not apply - the discounts were real. However, those coupons were much harder to find then the ones offered from a simple goggle search.


RE: Credit problems?
By Proteusza on 5/17/2007 4:24:53 PM , Rating: 2
That should be illegal - its very misleading advertising isnt it?


RE: Credit problems?
By arazok on 5/17/2007 6:06:48 PM , Rating: 3
I think it IS illegal. Nobody enforces it.

In Canada, Sears got busted inflating their tire prices a few weeks before putting them "on sale" for the same price as before the price increase....Guess how many years they got away with that one.

Except for the occasional PR campaign by the feds, it's largely buyer beware.


RE: Credit problems?
By darkpaw on 5/17/2007 4:36:21 PM , Rating: 2
Dell seems to do stuff like this on a normal basis. I was helping a friend pick out a laptop a few months back. They have their normal starting points low/mid/high equiped for each chassis. Starting with the low one actually saved $100 of the medium and like $200 over the high end even going with all the same options and ending up at the same specs.

Dell really has some tricks on their site.


RE: Credit problems?
By kibets on 5/17/2007 4:52:04 PM , Rating: 2
Oh... Dell always give me 90 days to pay at zero finance charge (same as cash) and sometimes a year. I pay within 90 days. Never tried to make payments as a credit card.

They do seem to like to play price games with their systems. It is hard to order the same thing twice in a row and come up with the same price.

I have never purchased from anyone but Dell so I don't know if the competition is the same.


RE: Credit problems?
By bighairycamel on 5/18/2007 7:19:59 AM , Rating: 2
That't terrible reasoning. And I find it hard to believe that 85% of the people who applied for financing had bad to fair credit.


RE: Credit problems?
By iNGEN on 5/19/2007 2:55:48 PM , Rating: 2
According to Fair Isaac Corporation less than 4% of people with a credit score have an index over 720. It's pretty plausible only 15% of people who applied had good enough credit.


Annoyed with syntax
By BionicBigfoot on 5/17/2007 4:14:47 PM , Rating: 2
I am fairly new to this web site. One thing that irritates me is that a lot of stories on Dailytech are so out-of-whack in what I would consider even 6th grade english. This article alone has a spelling error in a quotation of all things! Not to mention on one line Pearson is spelled correctly but on the next it is spelled Perason. I guess as a person in the field that does programming from time to time I must be sensitive to syntax.




RE: Annoyed with syntax
By Mitch101 on 5/17/2007 4:32:48 PM , Rating: 5
I kind of expect mis-spelled words from technical people.

Im also a programmer which means I have been using broken english to name things for years. As long as the point comes accross I could care less if a word gets mis-spelled.

After all most of us dont sleep and work crazy hours. What sounds good when we write it doesnt sound as good the next day once weve had that morning cup of coffee.

Were geeks. Its pretty common that geeks do not have elevated levels of verbal proficiency.


RE: Annoyed with syntax
By Mitch101 on 5/17/2007 4:33:50 PM , Rating: 1
Also his name is Tuan Nguyen. Korean? English is probably his second language. If so he is doing better than me.


RE: Annoyed with syntax
By borismkv on 5/17/2007 5:51:07 PM , Rating: 4
Vietnamese, actually. At any rate, I'm not exactly a fan of seeing this many spelling and punctuation errors in reporting. I've done a lot of work as a copy-editor, and it kind of grates on me. I'm a techie, too, but that shouldn't be an excuse for the lack of journalistic professionalism. All serious publications should have a desire to be accurate in spelling. I mean, if you can't even take the time to spell something properly, why should I trust that you've taken the effort to properly research the subject of an article?


RE: Annoyed with syntax
By Tuan Nguyen on 5/17/2007 7:11:21 PM , Rating: 6
The great thing about DailyTech is that we allow users to make comments directly to our articles. That being said, skimming through sites like Reuters and others, many spelling errors can be found -- the drawback there is no one can say anything about it.

We're working hard at our content here at DailyTech, but unfortunately at times errors do slip through, even with editors. Certain errors at times are difficult to catch. Either way, everyone's human and mistakes do slip through.

At the end of the day, we do deliver the news the way it was intended and readers are informed about what's going on with the industry, the companies that they're fans of and the products they are looking to buy.

/ Tuan


RE: Annoyed with syntax
By encryptkeeper on 5/18/2007 11:31:10 AM , Rating: 1
To the guy who started this thread, this is a BLOG, not an official newspaper. If you can't read 1337, then get out of here. ZOMG PWNED! Ok, sorry, I never do that but I couldn't resist...


RE: Annoyed with syntax
By doctor sam adams on 5/20/2007 1:05:27 PM , Rating: 3
The volume of articles seems low enough that if you had one person to check everything who knew what he was doing and paid attention, that would take care of most of the errors that slip through.


RE: Annoyed with syntax
By Axbattler on 5/17/2007 6:42:56 PM , Rating: 1
The name sounds Vietnamese to me.

It depends to what you see the Daily Tech as. The site's presentation professional looking, at least compared to the average blog. But in terms of content, I see it as more of a blog with several owners than a news site: it's mostly a portal to news elsewhere packed conveniently into one place. Not that it's a bad thing. I can accept spelling mistakes for the conveniency, but I do think that they could use some editors if they want a more professional image.