By: Peyton Brown

APR and Interest Rates

The total amount a consumer pays to lease an item is typically much higher than if the consumer bought the item. The average APR is 100% or higher and the interest rate depends on the place where the item is rented.

Examples of Rent-To-Own Places in the Community

Some of the places that provide this credit would be Aaron’s and Rent-A-Center.

Who Would Use this Credit?

Most of the customers who come to these businesses are put in an apartment for a few months at a time for work and have to rent the furniture for their living place and they can have the necessities. Such as a couch, bed, TV, a table and some chairs. It is convenient for the person to be able to rent these items and return them without having to spend a lot of money moving and or buying the items.

Two Advantages and Disadvantages


  • Don't have to actually purchase the item.
  • Can own the item at the end of the contract.

  • In a rent-to-own plan the cost can be double or triple than what you would actually pay for the item.
  • Fees for services

3 Alternatives to this Credit

  • Buying the item instead of renting it because it would cost less in the long run.
  • Calculate all the money that would you would save if you didn't use the renting place.
  • Borrow the items from someone else such as a friends or family.