Thursday, June 7, 2012

Rent to Own Programs Explained

Rent to own programs are a common way for people to get products without actually purchasing them. With this type of program, you are going to be able to start out renting furniture, electronics and other household items. You will work with a rent to own store in order to facilitate this process.
You are going to give them a weekly or monthly payment for these items. They will typically bring the items to you and install them in your house. If you continue making your payments for the entire term, you will be the owner of the items.


Customers
This type of program typically attracts low income customers. Many people look negatively on this industry because they say that it preys on those that do not have much money and makes their problems worse. 
Problems
The biggest problem with this type of program is that you are going to be paying an unbelievably high amount of interest. In some cases, you could expect to pay as much as 1000 percent interest over the life of your rental term. This means that you are going to be paying much more for things than you would if you simply bought them with cash.


Ref : www.loan.com
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