SOURCE: Association of Progressive Rental Organization

April 28, 2008 12:37 ET

Rent to Own: Most Flexible Consumer Transaction in the Market Today

AUSTIN, TX--(Marketwire - April 28, 2008) - The rent to own industry continues to better explain the value of the rent to own transaction and it is paying off with more customers and business. Two consecutive marketing rent to own studies conducted by the Trenholm Research Group showed the general public knows very little about rent to own and what they do know is incorrect regarding rent to own appliances, furniture, computers, and electronics.

One of the biggest misperceptions regarding rent to own is that the customer is legally obligated to purchase their home furnishings under the rent to own transaction. In fact, the opposite is true. The customer is never obligated to make the next payment, incurs no debt and can return the product at any time for any reason under no penalty. That is why rent to own agreements are popular for 3 million annual customers nationwide.

"The rent to own transaction is the most flexible transaction in the market today," remarks Larry Carrico, APRO President and Rent One Owner from Mt. Vernon, Il. "The rent to own customer chooses the payments, the number of payments, can change the payments; exercise the early purchase option or just return the product without penalty or hurting your credit. The customer is in full control of the rent to own transaction which is why we have such a satisfied customer but the general public still knows very little about the advantages of rent to own."

The public is beginning to better understand the rent to own transaction according to recent growth in the industry and customers according to APRO's recent economic reports. The $6.8 billion rent to own industry continues its 12-year revenue growth as well as a 300,000 customer increase over the past two years.

The rent to own industry through its national trade association, the Association of Progressive Rental Organizations (APRO), has spent the past forty years improving business practices to become one of the fastest growing and vibrant industries both on Wall St. and with private small business. APRO is the national, nonprofit trade association rent to own advocate and represents the rent to own industry before the U.S. Congress, state legislatures, courts, media and the public. For more information, visit www.RTOHQ.org.

Contact Information

  • Contact:
    Richard May
    (APRO Public Affairs Director)
    512-225-1051
    Email Contact