lease-to-own
Gradual acquisition arrangement
Lease-to-own is an arrangement where someone rents property or goods with the option—or obligation—to purchase at the end of the lease period.
Part of each payment typically goes toward the eventual purchase price.
Common for houses, cars, and appliances: They signed a lease-to-own agreement on the duplex.
Also called rent-to-own.
These arrangements often benefit those who can't secure traditional financing, though total costs frequently exceed outright purchase prices.
Movable room objects
- appliancesPowered household equipment
- electronicsStudy of circuits
- merchandiseCommercial products offered
- washerSpacer ring for fasteners
dryer · television · sofa · refrigerator · installment · showroom · delivery · upgrade
Means of transport
- carWheeled motor vehicle
- truckHeavy freight vehicle
- dealershipLicensed retail seller
- mileageDistance traveled by vehicle
buyout · residual value · depreciation · auto · financing · trade-in · title transfer · warranty
Improving lending trustworthiness
- financingProviding capital for purchases
- affordabilityState of being purchasable
- interest rateCost of borrowing money
- payment historyRecord of past transactions
principal · amortization · default · repossession · contract terms · total cost · fees · penalty
furniture
Movable room objects
- appliancesPowered household equipment
- electronicsStudy of circuits
- merchandiseCommercial products offered
washer · dryer · television · sofa · refrigerator · installment · showroom · delivery · upgrade · return policy
vehicle
Means of transport
- carWheeled motor vehicle
- truckHeavy freight vehicle
- dealershipLicensed retail seller
mileage · buyout · residual value · depreciation · auto · financing · trade-in · title transfer · warranty · maintenance
credit building
Improving lending trustworthiness
- financingProviding capital for purchases
- affordabilityState of being purchasable
- interest rateCost of borrowing money
payment history · principal · amortization · default · repossession · contract terms · total cost · fees · penalty · credit score
home
One's personal residence
landlord · equity · down payment · credit · renter · property · deed · closing · homeownership · purchase option
- shared ownershipco-op, cooperative, joint tenancy, communal property, community property
lease-to-ownsale-leaseback
Sell asset, rent it back
liquidation · renting · divestiture · leasing · forfeiture
lease, own, leases, leased, leasing, lessee, lessor, owns, owned