Would a used item purchased from a garage sale, classified ad or secondhand store serve the purpose?
If you decide that rent-to-own is the best choice for you, here are some questions you should ask before you sign on the dotted line. • What is the total cost of the item? The total cost can be determined by multiplying the amount of each payment by the number of payments required to purchase the item. Make sure to add in any additional charges, for example, finance, handling or balloon payments at the end of the contract. • Am I getting a new or used item? • Can I purchase the item before the end of the rental term? If so, how is the price calculated? • Will I get credit for all of my payments if I decide to purchase the item? • Is there a charge for repairs during the rental period? Will I get a replacement while the rented item is not in my possession? • What happens if I am late on a payment? Will the item be repossessed? Will I pay a penalty if I return the item before the end of the contract period? Comparison shop among various rent-to-own merchants. Contact your local or state
