Why should I choose rental-purchase instead of buying?
There are many benefits to the rental-purchase option that are not offered in a traditional retail sale transaction. Some of those benefits are:
- Return your merchandise at any time with no obligation to continue payments. This is especially beneficial when unexpected loss of income or unplanned expenses arise such as household or auto repairs.
- Your rental payment can be used to help establish future credit references/lines.
- There are no credit checks and no affect on your credit rating. This gives you the option of using your existing credit line for major purchases and investments.
- All merchandise is serviced and repaired at no charge while you are renting.
- Should your product need repair or replacement, "loaner" merchandise is provided while you are renting.
- Delivery, set-up and product education are often included in the cost of the rental.
- You are the customer long after you walk out the door. You make the decisions to keep or return your product each week / month based on your satisfaction with its performance and our service. RTO companies must earn your business each time you make a payment.
Doesn't it cost a lot more than retail?
Rental-purchase costs include charges for services and options not offered in a traditional retail transaction. The many benefits listed above cause operating expenses to be higher for rental-purchase than for retail. The rental customer gets what they pay for: more service, more options, no debt, and more convenience than retail can offer. In most cases, retail will be less expensive but it is not an accurate comparison due to the many differences between retail and rental-purchase.
Who are your customers?
Statistics indicate that many rental-purchase customers are homeowners, some are married with children. Customers include students, temporarily assigned business executives, military personnel and in-transit individuals and families.
Lots of people use rental purchase. All customers have one thing in common; they have immediate needs but don't want or can't accept long-term obligations. Some customers have no access to credit arrangements.
Is the quality of your merchandise the same as a retail store?
High quality product is essential to your satisfaction and to the rental dealer's success. Most RTO companies carry quality, selection, and brand names in their stores because they service their products for the duration of the rental agreement, making it even more important to provide quality merchandise.
What do you need to know about me before I can rent something?
Information about you is taken on a rental application form. Many RTO dealers make their order form available online. It only takes a few minutes. Identification, address verification, income sources, and personal references are all that is typically required.
Are there hidden charges in renting?
Your total merchandise cost is computed for you before you sign any rental agreement. In addition, retail pricing is often available for comparison. Currently, 45 States regulate the rental purchase transaction with laws designed to protect the consumer.
Additional charges can apply for reinstatement and in-home payment pick-up. These charges are clearly outlined in the Rental-Purchase Agreement you sign when you begin renting and are normally explained at that time. Optional insurance and other benefits may also be offered but are not required.
What happens if I decide to return something or can't make my payment?
You don't need a reason to return merchandise. Your rental agreement is on a weekly or monthly basis with payments made in advance. If you decide you don't need or want the merchandise, just call and make arrangements for return.
If you do not make your payment on time, reinstatement options are usually available which enable you to continue your agreement without losing any rights or privileges acquired to date. Reinstatement options are outlined in the Rental Purchase Agreement you sign at the time of rental and may also be regulated by State Law.