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MissouriFamilies.org - Money Matters - Consumer Action

 

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 Missouri Extension
 

From Building Strong Families (http://extension.missouri.edu/bsf/), Consumer Beware module.

 

 

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Last update: Wednesday, April 19, 2006

 

 

 


 
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