SOURCE: Association of Progressive Rental Organizations

Association of Progressive Rental Organizations

February 19, 2009 21:55 ET

The Association of Progressive Rental Organizations Announces That Consumers Can Use Rent to Own Wisely in Tough Economic Times

AUSTIN, TX--(Marketwire - February 19, 2009) - In tough economic times, rent to own appliances, furniture, electronics and computers are a viable option for millions of American consumers. With rent to own, the customer never incurs any debt and credit is never extended. The customer is never obligated to make the next payment and can return the product at any time for any reason. With the rent to own transaction, customers need to use the option to their best financial advantage especially with the advances the rent to own industry has made over the past decade. Listed below are some rent to own tips for consumers.

Shop around. The rent to own industry is very competitive and will bend over backwards to attain your business, so use it to your advantage.

Assess your payment options. Use the 90-days-same-as-cash option, if possible. If you make the payments, in 90 days you'll have a refrigerator -- or other home product -- at an affordable price in the market that is significantly cheaper than paying over time with a credit card (and possibly incurring credit card penalties in the process). If you cannot fulfill the three-month option, choose the rent to own plan that's right for you. The final price will still be less due to fewer payments. Some rent to own companies offer 180-days-same-as-cash plans.

Exercise the early-purchase option. The early-purchase option can reduce the total rent to own price by 50 percent of remaining payments.

It's about flexibility but "least/shortest" is cheapest. Choose the least number of payments over time to save considerable money. Rent to own stores offer the flexibility of choosing your own payment plan.

Make sure the rent to own company offers a payment-reinstatement option. If you return a product for any reason then at a later date you can reinstate your previous payment history toward final ownership of the product. Most state rent to own laws mandate a payment-reinstatement option and some stores offer a "lifetime payment reinstatement" option.

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

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