Leasing Your Phone
I'm not talking about cell phones. Back in the old days of people leased (rented) the phones that they had in their house. AT&T would come into your house and hard wire the phones. There were no phone jacks. Even up into the 70's and 80's people were still leasing phones, although you had a jack on the wall by then. Leasing was popular because the technology was new and it was more affordable to pay a few bucks each month to lease your phone than to buy one. Also with new technology you are worried about the expense of repairing, replacing or upgrading the phone - all of which is solved by a lease.
Did you know that people in the US are still leasing their phones? According to this AP article there are still 750,000 people on the US still leasing phones. Can you believe this? I can. Because the phone companies are taking advantage of them... mainly older people. This article explains how an 82 year old lady in Ohio was paying $29.10 a month for two old black rotary phones from the 1960's. She apparently paid over $14,000 over the life of the lease for these two phones.
The phone companies say that they sent out letters in 1985 allowing people to get out of the lease. If you didn't opt-out then they keep charging you. I can see this for a few years, but it is now 21 years later and allowing people to pay this kind of monthly fee for a 1960 phone is pure abuse.