Blockbuster's "End of Late Fees" - the real story.
January 1, 2005 at 03:54 PM
So here's the scoop.
Summary:
- Everything is due 6 days after you rent it, or you pay $1.25 late fee.
- If you bring the movie back more than 30 days after rental, you bought it.
Everything is due 6 days after you rent it. If you don't return it by
then, they charge your account (or credit card if they have it) for the
sale price of the movie. If you then bring the movie back, they will
credit your card (only if you verbally insist that they do) or put it
on your account. But they subtract $1.25 "restocking fee." If you are
30 days late, you can't bring it back, or reverse the "purchase" charge.
Link: blockbuster's FAQ on the deal, which still doesn't tell everything (I got the real scoop from the BB clerk).
I think I'm going to do this, which is BB's response to Netflix. It's cheaper, plus you get 2 free in-store movie or game rentals/mo. That's kind of cool to get free game rentals. That beats Netflix or Walmart.
Also, because movie rental places get the movies before you can buy them retail, the movie studios charge about $120 per DVD. Which means when you are charged the "purchase price" of the DVD when it's "late" you will be gouged somewhere way over $19.99. And you won't get the original packeging or other stuff associated with it.
Great way to deal with class action lawsuits people.
Posted by: SpoVegas | January 07, 2005 at 08:04 AM
That's actually not true.
Video Rental stores get dvd's for around $17 a piece, depending on the title/studio. Prices were once around the $100+ mark when VHS was still big. Dvd's have never been subject to the "rental window" in which a title is priced insanely high for about the first 90 days to discourage purchases and encourage rental revenue. Dvds have always been released for sale on the same dsy they are released for rent.
If you kept a dvd past the week limit at Blockbuster, You'd get charged a purchase price somewhere around $22.99, which is pretty high considering what you could buy the same dvd for at Wal-mart or Best Buy.
Posted by: YellaFeva | January 07, 2005 at 12:16 PM
"Also, because movie rental places get the movies before you can buy them retail, the movie studios charge about $120 per DVD"
Wrong. Movie rentals get the dvds the same time they are released to the public. More specifically receive their shipments the same time stores that sell them do (day before for my local rental place).
Posted by: Dillinger | January 08, 2005 at 06:19 PM
Did you see the Reuters story about the No More Late Fees investigations some states are doing. I link to the article through my blog. Check it out. Very interesting!
Posted by: Dean | February 12, 2005 at 08:13 AM
Carson -
"Evrything is due 6 days after you rent it, or you pay $1.25 late fee. "
Your understanding of the program is incorrect... Movies are due on the due date, you then get an EXTRA 6 days BEYOND the due date before Blockbuster turns your rental into a purchase. Just turn your movies on time & it's a non-issue.
Posted by: Chris Scott | February 20, 2005 at 10:49 PM
Yeah that's a new policy and wasn't the case when I wrote this. But thanks for clearing it up. As for: "Just turn your movies on time & it's a non-issue." - Appreciate the stunning grasp of the obvious there, thanks.
Posted by: Carson | February 21, 2005 at 08:26 AM
Ok all of you know it alls, how bout after 7 days the movie getst sold to you at the previously viewed price(if it is available previously viewed) minus the rental price. so for example you rent the incredibles and don't return it for "8" days you are charged $21.99(new price)or $14.99(previously viewed price if available) minus 3.99(rental fee so you will pay between $11.00 and $18.00 with no late fees the you can return it and get your money back minus $1.25 for restocking fees or the old way where you pay for 3 additional rental periods and pay $11.97 plus tax for nothing. you choose
Posted by: Jed | March 26, 2005 at 09:37 AM
Why would anyone want to "buy" a movie that does not come in its original packaging, it does not necessarily come with the extra features, and many times, the condition of the film is poor? It just doesn't make sense.
Posted by: Chris M | March 29, 2005 at 03:15 PM