• Rent to Own Programs

    rent to own

    At some point we are all in need of the next “big ticket” item in our home. But the question really is…do we rent to own or buy? Many cities across the US have the local stores that Rent-to-Own pretty much anything thing your heart desires, from new flat screen TVs to beds and kitchen dining room sets. So what are the pros and cons to each? Here we will investigate on what is a better option Rent-to-Own or Buy. Then we will leave the decision up to you.

    Rent-to-Own

    Other than those high interest rates on the things you decide to buy, the option to make monthly payments and rent something before you buy it outright is very enticing. Often times at these types of stores you have many people who have very poor credit and cannot get a loan for anything. But that is what these types of stores are founded on. The idea that many Americans overspend, have too much credit and cannot get another loan from anyone. So they have you prove that you can make the committed payments, usually weekly or monthly and the interest rates are sky high. Once you can prove that, the sky is the limit. Buy anything you want to in their store. It’s that simple. But there is always a catch.

    Do not miss a single payment. If you miss a payment the Rent-to-Own store will come and take back the particular item you purchased. However, this doesn’t instill enough fear into the average customer. Many people use the Rent-to-Own option. It is a way for many consumers to get instant gratification as well as, offering consumers the chance to get something they really cannot afford in the first place. Often times those who frequent Rent-to-Own locations, have extremely poor money management skills.

    Buy – Save Up!

    The most important thing converse to Rent-to-Own would be to buy something outright. If you do not have the cash readily available, then the key to buying is to save up. Saving up for the big things that you want in life requires discipline. But it makes the process that much more worth it. When you set aside a little bit of money each week, you will be surprised at how fast it all adds up. It is always better to save up when possible. You don’t have those annoying interest rates, or another line item to add to your monthly budget. When you have the money, you buy it and that’s the end of it. It can be very rewarding. It also allows you to take pride in the fact that you own something out right and most often times you enjoy your item a lot more also. Do not fall into habits that will deprive you of financial freedom.

    So will you Rent-to-Own or Buy your next big thing? You make the decision. Ultimately at the end of the day, It is your money, and you get to do what you want with it.

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