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Advantages of Rent To Own Furniture

Advantages of Rent To Own Furniture

Fairly feasible and easy for the working class and also those who wish to live a life of luxury but cannot afford to do so, the rent to own furniture concept is slowly catching up with the masses. Read on to know more about its advantages and disadvantages.
DecorDezine Staff
Last Updated: Aug 17, 2018
Couple shopping at a furniture store
Rent to own furniture is not a new concept. It has been around since the 80s and is simple enough in theory. You take the furniture item from the company and pay the due in installments, either weekly or monthly, and after a certain number of installments, the furniture item is yours.
furniture
Rent to own furniture is not a new concept. It has been around since the 80s and is simple enough in theory. You take the furniture item from the company and pay the due in installments, either weekly or monthly, and after a certain number of installments, the furniture item is yours.
The advantage is that, if the furniture item is defective or is not working like it should, you can return it to the company and they will replace it for you. Often, this may even be done free of cost.
Another advantage is that you can pay the installments based on your convenience - they can be weekly or monthly - depending upon the frequency of your paycheck.
The main advantage is that this service can be availed by people who don't have a great credit history. In most cases, a credit check is not performed. Some companies do perform a credit check. In either case, people with bad credit do not suffer and can avail of lease to own furniture items for their homes.
If you cannot pay an installment or two, it is best in these cases to inform the company beforehand. This way, your furniture may not be repossessed. But, out of goodwill, they may charge you extra for delayed payments.
One disadvantage could be that of the price. If one calculates the number of installments one pays for the furniture item, and the actual cost of buying that piece of furniture in one go, one realizes that one ends up paying at least two or three times the actual cost if one decides to go for rent to own furniture.
But, rent to own furniture can probably be just the thing for you if you eventually see your income increasing in the near future. It can also be a good idea for those of us who want to live a certain lifestyle, but cannot afford to make all the purchases at once.
Ideally, it has been suggested that you shop around for a good rent to own company which has a customer friendly policy or scheme for lease to own furniture. This way, you will enjoy the advantages and you will not beset by the disadvantages of the scenario. Make sure you read the fine print carefully.
The ideal consumers for lease to own furniture are college students, military families that are constantly in transit, corporate travelers who do not stay for longer time at one particular place due to temporary work. These people can avail  the benefits of rent-to-own furniture as they need not commit to owning major furniture items for longer term.