About Us

What is Rent-to-Own (RTO)?

The rent-to-own, or lease-purchase, industry is relatively new to the American economy. The unique "rent-to-own" transaction sprang up in the 1960s in response to a growing consumer need for acquiring the use of household products without incurring debt or jeopardizing the family's credit. The rental-purchase customer comes from all walks of life who desire consumer durable goods in their homes without the long-term financial obligations associated with credit sales.

What distinguishes rental-purchase from a retail credit sale is the term "rent." There is no interest charged to consumers, no credit is needed, and customers can return the merchandise at any time. This no-obligation, no-debt feature is the cornerstone of rental-purchase. It's easy, it's safe and it's hassle-free. Free delivery, repair, loaners & replacements are included. 


RTO Transaction

Rentals are normally established for payment periods of weekly, bi-weekly, semi-monthly or monthly.

At the end of the week or month, the customer can either terminate the agreement without any cost or obligation, or renew the agreement by making another advance rental payment.

If the agreement is renewed a prescribed number of times (usually a total period of 18 months) and the customer meets the terms of the rental agreement, the store conveys ownership of the item to the customer.

At the onset of the agreement, the customer is told very clearly what the prescribed number of renewals are, and the total dollar amount in rental payments he or she will have made by the time ownership is an option.


RTO FACTS

The RTO industry allows individuals to rent furniture, electronics, major appliances, computers and other products with an option to buy.

Rent-to-own, or RTO, has been an identifiable U.S. industry for more than 30 years.

There are approximately 8,000 stores in all 50 states.

RTO serves 3 million customers (households) a year.

Because renters pay as they go, no credit is extended. Credit reports on customers are not obtained.  Previously rented items are refurbished and re-rented at reduced rental terms with all the great services of renting new product - free service, free delivery, free loaner, and no long-term obligation - just a great way to save money on pre-rented merchandise!