Feature Articles: Budgeting &
Saving
Learning for Better Living
Renting to Own
PDF file available in both English and Spanish
Renting to own may sound like a great way to get the TV
or refrigerator you want now. There is no money down,
free delivery, and free repairs while you are making
payments. But think again! It will cost you a lot more
money to rent an item than to buy it on credit or pay
cash for it.
If you want to buy a 25” color TV, here is an example of
what it would cost you:
Rent to own
-
You pay $18.22 a week (78.95 a month).
-
For 18 months.
-
The TV costs you $1,421.16
Buy on credit
-
You pay $38.40 a month.
-
For 18 months.
-
You pay $691.20 for the TV.
Buy with cash
A new color TV would cost you about $580.77 with tax.
If
you save $18.22 each week for 8 months, you can buy a TV
for cash.
-
You can own a TV 10 months sooner than with the rent-to-own program.
-
Any needed repairs would be covered by the warranty when you pay cash or credit.
-
You would save $840.39 that you can then spend on other items you and your family need.
Think twice before you sign a rent-to-own contract.
 |
Site Administrator: |
|
|
|
Last update: Tuesday, May 05, 2009
