What is rent to own?
Rent to own is a form of flexible payment plan. Instead of paying for a piece of furniture, electronics, or home appliance straight away, you’ll pay in installments over a specified rental period. At the end of the lease term, the item is yours.
The best rent-to-own providers offer a variety of payment options, giving you complete control over your purchase.
Why choose rent to own?
People choose rent to own for a variety of reasons.
It's a good idea to consider the advantages of rent to own:
- It's a stress free alternative - Fronting the total cost of a product isn’t always appealing. With rent to own you pay on your terms.
- Added flexibility - Rent to own is built around flexibility. You choose the payment plan that works best for you. What’s more, you can return an item at any time and pause payments. You can carry on where you left off when you’re able to make payments again.
- A chance to test - Unsure if a piece of furniture fits with the vibe of your living area? Want to try out a PS5 or Xbox? With rent to own, you can test an item out and return it if it doesn’t work for you.
Added security - Reliable rent to own providers offer around the clock support. If something is wrong with your furniture, electronics or home appliance, it can be repaired quickly with no extra cost to you.
What can you buy through rent to own?
The items available through rent to own depend on your chosen provider. Rent One, for instance, offers a large variety of furniture, electronics and home appliances on flexible payment plans. Some of our most popular products include
- Sofas
- Loveseats
- Sectional couches
- TV stands
- Washer and dryer sets
- Gaming computers and laptops
- Phones
- Jewelry
What are the purchase options?
The exact purchase options available will depend on your chosen rent to own platform. Rent One offers several payment options to suit your needs, including
- Making weekly payments
- Making monthly rent payments.
- Purchasing a product by paying the total amount.
Can you finish your rent to own payment plan early?
Rent to own arrangements include an option to pay the remaining balance of your payment plan. Rent One, for example, offers an early buyout option. This allows you to acquire merchandise before your next renewal payments at a discounted eventual purchase price.
Is there free delivery?
Delivery costs depend on your chosen rent to own provider. Rent One offers free delivery and setup on all products.
How do you pay for rent to own?
You can make payments in-store, on the phone, or online using debit or credit cards – whichever suits you. You can set up autopay to make automatic payments at any time. It’s easy to set up the initial paperwork with a small processing fee.
At Rent One we don’t require credit checks like other rent to own stores do.
Upgrades and trade-ins
With rent to own, you don’t have to keep hold of old electronics. You can upgrade or trade in your products as you see fit. The same goes for most rent to own products.
When should I choose rent to own?
Still unsure if rent to own is right for you?
A rent to own plan might be the answer if any of the following apply
- You have limited savings - If you’ve spotted must-have furniture, electronics or home appliances but saving for the initial cost might take a number of years, rent to own is likely to be a good option.
- You have a temporary living situation - If you’re renting and planning to move, investing in lots of new furniture might not be practical. Through rent to own, you can order items that suit the aesthetic of your current home values. You can return them when they’re no longer needed.
- You’re looking for a quick, hassle-free solution - Rent to own furniture, electronics and home appliances often come with added bonuses such as free delivery and setup. So, you can get straight to the business of transforming your living space.
- You don’t have a strong credit history - Rent to own payment plans are often more flexible when it comes to credit history - useful for people with low credit scores. Rent One, for instance, requires zero checks, helping you get your products more quickly.
Considerations when choosing rent to own furniture
Compatibility with existing space
It's important to choose furniture that fits with a room’s overall aesthetic and vibe to have the biggest impact. To create cohesion, choose an overall color palette to adhere to.
Alongside this, consider practicality. It’s worth measuring a space to make sure that your purchase fits comfortably.
Functionality
Consider additional factors that might impact your choice of furniture. For example, silk cushions might look fantastic, but may not be the best choice for families with small children or pets. Instead, it may be better to opt for items made from more stain-resistant fabric.
Picture how a certain item fits into your day-to-day life. If you’re a frequent entertainer, consider whether an item has enough space to accommodate your guests.
If you have two or more children, you may want to consider purchasing a bunk bed. We have plenty of furniture available for kids.
Portability
Mobility is a key factor if you anticipate moving in the near future. Certain forms of furniture, such as foldable chairs and tables, can be transported more easily.
Remember, rent to own items can be returned and upgraded if it no longer meets your needs. Nothing is stopping you from choosing items for short-term use, even if they don’t fit your extended plans.
Budget
While rent to own means you get your hands on pricier items early, it's still important to consider your budget. Will your financial situation enable you to support your payment plan? Setting yourself a clear budget can help you make sound choices.
As we’ve mentioned, rent to own options are usually more flexible. Rent One, for instance, allows you to pause your plan at any time and return when ready.
Comfort
Don’t overlook the main reason you’re investing in new furniture – comfort. Of course, everyone’s needs are different. Are you looking to sink into your cushions, or do you prefer a firmer seating option?
Carefully read an item’s description to make sure that it meets your needs. With rent to own solutions such as Rent One, you can also head in-store at a participating location to try out furniture for yourself. Just search for your nearest Rent One store location.
Remember, the best thing about rent to own is that you can send an item back. If a piece of furniture doesn’t work for you, just swap it for a different option.
Why choose Rent One?
Rent One is dedicated to offering flexible and convenient rent to own payment plans. Stocking only the highest quality furniture, electronics and home appliances, you can transform your living space in a couple of clicks. Thanks to free delivery and assembly, you remove the hassle and get straight to enjoying your new furniture.
Best of all, rent to own is available to anyone – no need to worry about credit score. There are no credit checks required and minimal upfront fees. You only need to provide complete details, such as an address, source of income, and personal references. So, what are you waiting for? Cut out the waiting time and create your dream home today!
