Why does Gun's E-Z Own have used furniture?

Good Question. We do get asked that quite often as to why Gun's E-Z Own has used furniture on the store. Well it's not because we like to have used furniture in stock.

There are two reasons we have used furniture in stock:
1) We repossessed it
2) it was on a short term rental

Referring to #1 Repossessions. Our contracts are an Interest Bearing Promissory Note and Security Agreement. Well, what the heck does that mean?

It means because we are giving our customers a loan, we hold the product they purchased as collateral. How So? Remember we have Gun's E-Z Own Sales and Gun's E-Z Own Financing. Gun's E-Z Own Sales sells the product and Gun's E-Z Own Financing, finances the purchase with a loan to the customer. Like a car loan.

So if a customer can't or won't make their monthly payment, we will repossess the product from them.

In the State of Minnesota we have what is called Self Help Repossessions. We, Gun's E-Z Own, will go to customers place of residence and knock on doors to collect money or the property.

I am a member of St. John's Red Wing.This past Sunday the pastor was giving the Children's Message. The sermon was based on Judges 7:1-8a and related it to door knocking.. During the Children's Message, he told some knock knock jokes to the kids and then asked the kids what they expected when they knocked on the door. Since I have been doing the E-Z Own thing for almost 20 years, I leaned over to my wife and said, "Money, I expect money when I door knock." This is suppose to be tongue in cheek humor.

Honestly, most of our customers are good paying customers, so I don't have to door knock as often as I use to. But I still have to do it.

Repossessing furniture is not as dramatic what you see the Repo Men do on TV. Most customer are relieved that they don't have the financial obligation any longer because they fell on hard times. I have had people shout, threaten and be complete jerks, but that is a rarity. I can tell you some of my war stories at a later time. I have a few.

As for #2 Rentals. If you remember from a previous BLOG, We use our used/previously owned furniture first for the short term rentals and when in a pinch we fill in with new furniture. And since the renter used it, we must categorize it as used.

When you are in the store you will see to different colored price tags. The White tag is new items, the Yellow tag is previously owned items.

To the right are what you would find.

Bottom line, as a rule of thumb, we do not purchase people's used furniture nor do we do consignment sales.

I hope that answered the used furniture question in clear form. I think I have mentioned before that there are many twist and turns in running an E-Z Own store. Some can get complicated.

Until next time, have blessed and safe day.