rent-to-own
Payments become ownership
Rent-to-own describes an arrangement where you rent something—typically furniture, appliances, or a house—with the option or obligation to purchase it after a period of payments.
The model appeals to people who can't afford upfront costs or don't qualify for traditional financing: They got the TV through a rent-to-own place.
Critics note that rent-to-own agreements often cost far more than buying outright.
Legally possessing residential property
- equityImpartial treatment or ownership value
- down paymentInitial sum toward purchase
- credit buildingImproving lending trustworthiness
- landlordProperty owner renting out
purchase price · closing · deed · property · first-time buyer · lease term · real estate · housing market
Periodic partial payment
- agreementShared position between parties
- furnitureMovable room objects
- appliancesPowered household equipment
- electronicsStudy of circuits
payment plan · contract · terms · buyout · merchandise · showroom · delivery · upgrade
Cost of borrowing money
- total costComplete expenditure required
- markupAdded percentage for profit
- APRYearly borrowing cost
- hidden feesConcealed additional costs
depreciation · overpriced · consumer protection · debt trap · credit score · default · repossession · predatory
Binding agreement conditions
- agreementShared position between parties
- liabilityLegal or financial obligation
- terminationAct of ending something
- consumer rightsLegal safeguards for purchasers
regulation · state laws · warranty · dispute · arbitration · fine print · title · lien
homeownership
Legally possessing residential property
- equityImpartial treatment or ownership value
- down paymentInitial sum toward purchase
- credit buildingImproving lending trustworthiness
landlord · purchase price · closing · deed · property · first-time buyer · lease term · real estate · housing market · affordable housing
installment
Periodic partial payment
- agreementShared position between parties
- furnitureMovable room objects
- appliancesPowered household equipment
electronics · payment plan · contract · terms · buyout · merchandise · showroom · delivery · upgrade · return
interest rate
Cost of borrowing money
- total costComplete expenditure required
- markupAdded percentage for profit
- APRYearly borrowing cost
hidden fees · depreciation · overpriced · consumer protection · debt trap · credit score · default · repossession · predatory · disclosure
contract terms
Binding agreement conditions
- agreementShared position between parties
- liabilityLegal or financial obligation
- terminationAct of ending something
consumer rights · regulation · state laws · warranty · dispute · arbitration · fine print · title · lien · eviction
- rentingtenant, landlord, lease, lease agreement, deposit
- rentalsvehicle hire, car, holiday home, motel, bed and breakfast
- real estate documentsdeed, lease, mortgage, title, contract
- shared ownershipco-op, cooperative, joint tenancy, communal property, community property
- commercetrade, banking, merchant, imports, sales
- loansloan, loans, lend, borrow, auto loans