Rent To Own

Desmond Barnett

Definition

An arrangement between a consumer and a seller that allows that allows the consumer to rent an item for a period of time.

Why Rent To Own?

People use rent to own when they can't afford one lump sum but can make payments

Alternatives

Advantages and Disadvantages

Pros and Cons

Advantages


  1. Improving credit
  2. Lock prices on items even if value rises


Disadvantages


  1. Do not own the item until fully paid
  2. End up paying more than double original price