Rent-to-Own: Costly Convenience
Authored By: Federal Trade Commission
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If you need furniture, appliances, consumer electronics, or tires and wheels, but don’t have the cash or credit to buy them outright, you may think a rent-to-own store is your last option. These businesses collect weekly or monthly payments and, if you make all your payments, you’ll own the item at the end of the contract. A typical contract may be for 12, 18 or 24 months. The longer the contract, the more you end up paying.