How does rent-to-own work?

Answer by  annie52foof (1459)

Renting to own is like making payments every month in the form of rental. Eventually once you have paid enough you own it. You always pay more than it's value.

Answer by  near2land (493)

With a rent-to-own option, you may pay a little more for the eventual purchase but this gives you a little more time on a large purchase.

Answer by  Rosark (82)

You put down a certain amount of money the owner wants of the item, sign an agreement of terms on what duration it has to be paid for,and that's it.

Answer by  SashaDarkCloud (5764)

Usually this is more expensive than outright buying something directly. The reason for this is they have interest and rental fees on certain contracts, so in the long term you ending up paying much more. They bill you every billing period of the payment plus fees.

Answer by  Ali41 (1593)

With rent-to-own, you pay a fixed amount each month and eventually accrued enough equity in the item to own it. It does tend to be more expensive than buying outright.

Answer by  str8upcutie83 (471)

You put a deposit on a piece of furniture of appliance, you pay weekly, bi-weekly or monthly installments, that go towards the price of the piece. When you are done paying the installments the piece of furniture or appliance is officially yours. At the end though you end up paying more for the item, than just purchasing it out right.