Australians doing it tough are paying interest rates nearly 50 times the typical rate for a credit card, according to a scathing new report by the corporate regulator targeting the rent-to-buy industry.

The Australian Securities and Investments Commission exposes massive swings in rates charged by companies offering "consumer leases", depending on the type of customer they deal with.

Ms Ross has now got a new dryer - but will still hang clothes in the car port. Credit:Tanya Lake

In the best case, a lease for a 5kg dryer attracted an interest rate of 25.88 per cent. But for a Centrelink recipient, a similar dryer attracted an interest rate of 884.34 per cent.

The difference in lease rates equates to more than $2600 in additional payments for the Centrelink recipient, with the dryer retailing at $345 costing them more than $3000 in fortnightly rental payments.