What are the advantages of acquiring your furniture, appliances, and other durable household needs from a rent-to-own store such as Rent-a-Center, as opposed to buying them on credit? There are many good reasons why rent-to-own is the best option for the smart consumer. For one thing, with rent-to-own you don’t incur any debt or long term obligation. This means there is no credit check required – all you need to show is a residence and source of income.

You can terminate the agreement whenever you want to, for whatever reason and even after terminating you can pick up the agreement at a later date when you are again financially secure, exactly where you left it- there is no loss of equity. Rent-to-own enables you to obtain new, famous brand-name merchandise for a low weekly payment; and you can even schedule biweekly or monthly payment plans if this is more convenient. The rent-to-home store delivers and sets up the item at no extra charge; and it will fix or service it during the entire rent-to-own payment period, even extending you a free temporary loaner if the item has to be brought in for service (pick up and delivery of serviced items is also free).

Who benefits most from rent-to-own furniture such as that offered by Easyhome rent to own? Most rent-to-own customers are working-class families who live on a weekly paycheck. Customers are typically on a budget, and have an immediate need for durable household goods, but not the wherewithal or willingness to take on long-term debt obligations. Often customers do not have access to credit: about 13% of rent-to-own customers are under 25 years old; another 7% are over 55. About half of rent-to-own customers have incomes less than $36,000 per year; and about half own their own homes. The typical rent-to-own store serves about 360 customers yearly, and produces a revenue of over $700,000. There are presently around 9,000 rent-to-own stores operating, serving a total of three million customers each year.

What rent-to-own products are most popular? Furniture accounts for 40% of rent-to-own and electronics and appliances account for another 44%. Computers account for 11%, and jewelry 1%. One of the newest and fastest growing segments of the rent-to-own industry is the custom wheel and tire store, typified by Rent n Go rent to own. The typical rent-to-own wheel and tire store sells over $700,000 in products yearly. The main drawback for rent-to-own operators is the fact that their operating costs are higher than those of traditional retail businesses, due to the fact that ultimately the merchandise is returned; and also due to the maintenance and replacement costs during the payment period.

Author: Alice Lane
Article Source: EzineArticles.com
Provided by: PCB Prototype & Manufacturing