SOURCE: Association of Progressive Rental Organization

November 30, 2008 23:45 ET

Holiday Shoppers Look to Rent-to-Own for Savings This Season

AUSTIN, TX--(Marketwire - November 30, 2008) - In this financially uncertain holiday season when many pundits are pondering what will keep the economy rolling, rent-to-own may provide the answer. If a family needs a computer, furniture, appliances or electronics, but is unsure of its financial future, the flexible, no-debt rent-to-own transaction is the way to go to fulfill such needs. When using rent-to-own to acquire holiday gifts, returning or exchanging these products down the line circumvents the penalties associated with traditional credit card and retail transactions because the rent-to-own transaction is specifically geared for returns and exchanges that do not penalize the customer.

Rent-to-own payments and financial obligations are controlled by the customer and there is no penalty if he or she needs to change payments or return the product. Add in the fact that most rent-to-own companies offer the customer their lifetime to reinstate previous payments toward ownership of a product -- but without the obligation to do so -- then it's obvious that rent-to-own helps to answer the concerns of a troubled economy, tightening credit and an unstable employment future.

The modernization of rent-to-own prices and payments, which include early-purchase and "90-days-same-as-cash-payment" offers, makes rent-to-own cheaper than many credit card transactions, competitive with retail and yet never requires the customer to make the next payment. Rent-to-own companies have spent the past decade lowering prices and developing payment options that are more competitive in the consumer market. With the economic downturn, the consumer credit crisis and an uncertain job market, consumers are discovering the positive advances rent-to-own has made toward better pricing and wide-ranging payment options.

With the holiday spirit being threatened due to economic woes, rent-to-own stores offer millions of consumers an option to save Christmas without going further in debt or jeopardizing one's credit. The recent 300,000 annual increase in rent-to-own customers demonstrates that the industry is responding to the financial crisis.

The rent-to-own industry, through the Association of Progressive Rental Organizations (APRO), has spent more than 25 years improving business practices to become one of the fastest growing and vibrant consumer industries in America. For more information, visit www.rtohq.org.

Contact Information

  • Corporate Contact:
    Richard May
    APRO Public Affairs Director
    512/225-1051
    Email Contact