Quick Answers...Rent to Own
I am looking to purchase some furniture through a rent-to-own, what questions should I ask before I sign a contract?
- How much are my payments? When are they due?
- What other fees are charged?
- What is the total dollar cost to own the item?
- When do I own the item?
- Is the merchandise new or used?
- Am I responsible for loss or damages to the item?
- Who pays for repairs if the item breaks down?
- What is the grace period for late payments?
- What happens if I miss a payment?
By Starla Ivey, PhD, former research
associate, Building Strong Families Program, University of
From Building Strong Families (http://extension.missouri.edu/bsf/), Consumer Beware module.
Last update: Wednesday, April 19, 2006