Not knocking any machine
Just stating experience, Just the nature of the borrower.
Any item that is priced in the "finance" area the banks, finance companies will see a portion back.
I know when I worked for Kirby many models ago, United Retail Finance (Kirby's own finance arm owned by SF) bought the paper from our distributor with a six month right of recourse. In other words if the loan went sour within the first six months the Distributor/Dealer were on the hook for finding, repossessing/recovering and repaying the finance company. We usually took the credit info, and sold it to one of the local banks in the small town if they were interested. Surprisingly many of the in-home purchasers wrote a check for BIF (Balance in Full) at the time of purchase.
like I said that was a Generation ago (Model wise). Later when I moved to the Finance side and was a loan officer, and collector in meetings the oft discussed was "Don't loan on a Rainbow Vacuum." "You will always get them back, and you can't sell the damned things."
I don't know if Rainbow has their own finance arm, but Credit Unions don't use them as collateral. The member has to qualify for that size signature loan to borrow for the purchase. In any case you will find fairly new machines in Pawn shops, usually in terrible condition.
