Make Sure Rent To Own Washer And Dryer Sets Endeavor Does Not End Up As A Costly Convenience
There are a few very alluring factors such as zero down payment, no credit checks, instant delivery and affordable monthly or weekly payments of bills make rent to own washer and dryer sets a runaway success and so popular among households. You can have any appliance, furniture, consumer electronics, and even tires and wheels if you need for your home this way if you do not have immediate cash in hand or credit to buy these outright. Rent these to own them at the end of the contract period once you make the entire payment. Usual tenure of these schemes is 12, 18 or 24 months.
The regulatory factor
However, you will need to make sure of a few points so that it does not turn out to be a costly convenience. Firstly, you must know that if you choose a longer contract you will end up paying more than the actual price of the appliance. Often these items will cost you double or triple the amount you will pay if you buy in cash, layaway or even in installment plan. Moreover, most rent-to-own providers are not regulated by federal ruling of lending and leasing. Therefore, do not expect much in the form of consumer protection or set disclosures. You must check it all along with the fees to make sure it is worthy investment.
The fees factor
You can check with the Attorney General of your state for more information about the fees involved in such rent-to-own plans. There may be additional fees apart from the weekly or monthly rentals, processing fees, delivery, pickup and installation fees, in-home collection fees, excessive damage fees, sales tax, and even late payment fees. Know it all to be on the safe side. Ideally, rent-to-own plan will work best if you want to try out a product before buying or have a short-term need.