Rent to Own Appliances

How to rent to own appliances

The world of rent-to-own appliances offers cash-strapped consumers a flexible and affordable alternative. Buying appliances is costly if you have to pay cash, and you'll have a hard time getting financed if your credit score is less than optimal. Leasing or renting appliances doesn't cost a whole lot per month, but that's money you're putting out month after month after month with nothing to show for it at the end of the day.

If you're wondering how to rent-to-own, it's a fairly straightforward process. You can use this strategy to acquire a complete range of appliances and electronics, including rent-to-own computers and rent-to-own laptops as well as fridge-freezer combos, home furnishings and even automobiles. Rent-to-own TVs and rent-to-own camcorders round out the list of the most popular products to finance this way.

How to Rent-to-Own

Whether it's a refrigerator rental, washer dryer rental or any other type of furniture, appliance or equipment rental, virtually all rent-to-own deals are identically structured.

First, the item you are going to rent-to-own will have a purchase price, which will be noted on the agreement. Then, you will agree to ret the item for a specific period of time at a specific monthly rate. Some retailers will also ask you to pony up a deposit or down payment as well.

You will then honor the lease agreement by making the monthly payments. When the lease period expires, the merchant will then offer you the option to purchase the item. If you choose to buy the item, you will pay the previously noted purchase price, less the total amount of your monthly payments and any deposit or down payment you made. You can either finance this balance, or pay it off in cash.

The advantages of renting to own are considerable. First, you can finance major purchases without using credit. Second, you can enjoy all the benefits of having new, state-of-the-art equipment without hefty expenses – monthly rental rates are usually very affordable. Finally, you are not required to buy the product at the end of the lease period – you have to option to buy it. If you're not interested in completing the purchase, simply walk away without obligation.

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