rent-a-center?

Question

how does it work? how would you pay and how much less would it cost than actually buying the product?

Answer 1

less? no it costs more!

What they do is charge you rent. If you finish out the lease you will have given them three times the money it would have cost had you just gone to another store and bought it. They also have several programs they talk you into that raise the cost even more.

Answer 2

rent-a-center or any other rent to own places: it usually costs about 3 times the amount of going out and buying a product outright. however, this is not a scam, but a service. say u were renting the item for 6 months then for some reason u decided to return it, they have to cover the cost to either fix it or refurbish it. also, there is usually the option of same as cash price, if u pay the item off in said amount of time (usually 3 months) then u only have to pay the cash price (usually only a little more than to buy outright in another store).

Answer 3

You just pay a flat monthly amount for the goods you are renting. In many states they run a "rent to own" scam -- oops, I mean scheme -- whereby you gain ownership of the goods after a set time, typically 2 years or so.

Typically you'll pay at least double the price that you would pay if you had purchased the same items through normal retail channels and financed them. A few states have barred the "rent to own" scheme as a scam.

The upside to this type of transaction is that they normally do not check your credit or report non-payment to the credit bureaus. If you fail to pay, they just come by and collect the goods.

The downside is that it costs a LOT more than a straight purchase. And if you do make all of your payments on time, it won't help your credit rating at all.

Answer 4

you rent something from them for x dollars a month it does not cost less than buying a product it costs more, lots more

Answer 5

These places were invented to "rip off", people with Bad Credit who can't afford to get a better payment plan elsewhere.