This lease to own retailer allows you to make monthly install mental payments if you are unable to afford large upfront payments. Once your lease is completed, the item belongs to you. Their lease ownership plans are 12, 18, or 24 months.
Aaron has been operating a franchise since 1992 and has over 200 franchises. To buy into Aaron’s franchise, you will need an amount of $250000 – $800000, pay a franchise fee of $15000 – $50000 monthly and have a net worth of about $500000. So now lets look at Stores like Aarons.
Stores like Aarons include:
Best way to rent to ownBuddy’s home furnishingsConn’s home plusFlex shopperRent-a-center
Best way rent to own has over 70 stores and is one of the largest independent operators in the rent-to-own industry. They offer flexible payment for furniture, appliances, electronics and computers.
Best way rent to own agreement plans from 12- 30 months terms. Customers have the option to return the product or buy the product during the term of the lease.
Buddy’s home furnishings is a furniture rental company with over 300 locations and is the third-largest rent-to-own company in the US and the largest independent franchisor. To own a franchise with buddy’s furnishings, you need to have a minimum start-up capital of about $150000, a net worth of over $700000, a franchise fee of $25000, and $500 monthly royalty fees.
Conn’s home plus is a retailer of high-quality home goods like furniture, mattress, electronics, and appliance store with 155 retail locations in the US. Their credit card from synchrony bank can be used in their stores. Their lease agreement plans helps you build your credit as they report to the credit bureaus. Conn’s, unlike Aarons, manages its credit risk by segregating customers according to their credit worthiness.
Flexi Shopper has a flexible payment option and one-year lease-to-own agreement is usually renewed annually. At Flexi shopper, you can apply for a spending limit of up to $2500. They accommodate customers with bad credit reports and you can also lease an item not found in the Flexi shopper’s store. Their payment option is flexible with a 52 weeks lease agreement that features direct debit payments. An interesting perk of this lease to own retailer is that you can lease items not found in their stores. All you need to do is take a printed photo of what you want and attach it to your lease application.
Rent-a-center is a public rent-to-own furniture and electronics store. It operates about 2500 stores and 200 franchises in the US. They do not report to the credit bureaus. At any time you can return a product or pause payment and return subsequently to renew your agreement. You must sign a 10-year agreement, and cash of about $120000, a net worth of $750000,, and a royalty fee of 5.5% to buy a franchise from Rent-a-center The franchise agreement is renewable.
The pros of rent to own include low monthly installments, the ability to buy goods quickly, no rigorous credit checks, and taking ownership of the item once the return to own items is fully paid.
One major disadvantage of rent-to-own is that it is more expensive than purchasing from a regular retail store.
SUMMARY
Consumers who fail to obtain a good credit report to enable them to acquire credit facilities from regular stores, rent to own retailers have been able to come to their rescue. Though it is an expensive alternative, the advantages outweigh the disadvantages.
An important point to note is that some of these retailers report to the credit bureaus and carry out credit checks.Some of them have hidden charges not imputed in the lease agreement like delivery charges. It is always advisable to check with each rent to own retailer about their requirements and availability of items of interest before making an application
Are good quality items offered at rent to own stores?
Yes
Are pre-owned items sold at rent to own stores?
They are both new and certified pre-owned items.
Can you make an outright purchase from a rent to own store?
Yes
