Guide About Rent-To-Own Furniture: Possible Way To Get The Furniture You Want

What Are Rent-To-Own Furniture Agreements?

Rent-to-own furniture agreements are arrangements where customers can take home furniture immediately while paying for it in installments over time. Unlike traditional financing, these agreements typically don’t require credit checks, making them accessible to individuals with limited or damaged credit histories. The contract generally specifies a rental period, usually ranging from 12 to 24 months, during which weekly or monthly payments are made. Once all payments are completed, ownership transfers to the customer. If the customer decides they no longer want the furniture before completing payments, most agreements allow for returns without further obligation beyond payments already made.

How To Get Rent-To-Own Furniture

The process of obtaining rent-to-own furniture is relatively straightforward. First, customers should research reputable rent-to-own retailers either online or locally. After selecting a store, customers browse available inventory and select the furniture pieces they want. The next step involves reviewing and signing an agreement that clearly outlines payment terms, the total cost, and duration. Most retailers deliver the furniture immediately after the agreement is signed and the initial payment is made. Some companies require a down payment, while others only ask for the first periodic payment. Throughout the rental period, customers make regular payments until the furniture is fully paid off and ownership transfers.

What Are The Benefits Of Rent-To-Own Furniture

Rent-to-own furniture offers several advantages that make it appealing for many consumers. Immediate access to quality furniture without a large upfront payment is perhaps the most significant benefit. This arrangement provides flexibility, allowing customers to furnish their homes without waiting to save the full amount. For those with credit challenges, rent-to-own programs typically don’t require credit checks, making quality furniture accessible regardless of credit history. Many agreements include free delivery and setup, saving customers additional expenses and hassle. If a customer’s situation changes or they decide the furniture doesn’t suit their needs, most agreements allow for returns without the long-term commitment of traditional financing.

Understanding the Total Cost of Rent-To-Own

While rent-to-own furniture offers convenience and accessibility, consumers should be aware that the total cost typically exceeds the retail price of purchasing outright. This premium covers the flexibility and no-credit-check convenience of the service. The final cost depends on the rental term length—longer terms generally mean smaller payments but higher overall costs. Before signing an agreement, customers should calculate the total payment amount by multiplying the periodic payment by the number of payments required. Some companies offer early purchase options that can reduce the total cost if the customer can pay off the furniture before the end of the term.

Rent-To-Own vs. Traditional Financing Options

Rent-to-own differs significantly from traditional furniture financing methods. While traditional financing typically requires credit approval and often offers lower interest rates for qualified buyers, rent-to-own focuses on accessibility without credit requirements. Traditional loans or store financing usually involve fixed terms with penalties for early termination, whereas rent-to-own agreements generally allow customers to return items without further obligation. However, the convenience of rent-to-own comes at a premium—the total cost is often higher than both retail prices and traditional financing. For consumers with good credit, traditional financing might offer more favorable terms, while those with credit challenges or who value flexibility might find rent-to-own more suitable.

Major Rent-To-Own Furniture Providers and Pricing

Several established companies dominate the rent-to-own furniture market, each with different offerings and pricing structures. Understanding these options can help consumers make informed decisions about their furniture acquisition.

Provider	Typical Products	Rental Period	Average Monthly Cost	Early Purchase Option
Aaron’s	Living room, bedroom sets	12-24 months	$80-$250	Yes, with discount
Rent-A-Center	Full home furnishings	12-18 months	$60-$300	Yes, significant savings
Progressive Leasing	Various furniture	Up to 12 months	$90-$200	Yes, within 90 days
CORT Furniture	Apartment packages	1-12 months	$150-$400	Yes, with prorated credit
Buddy’s Home Furnishings	Home essentials	12-24 months	$70-$220	Yes, with discount

Prices, rates, or cost estimates mentioned in this article are based on the latest available information but may change over time. Independent research is advised before making financial decisions.

Reading the Fine Print: Important Contract Terms

Before entering a rent-to-own furniture agreement, understanding the contract details is crucial. Pay particular attention to the total cost to be paid over the life of the agreement, as this will typically be higher than the retail value. Verify whether the agreement includes maintenance and repair provisions—some companies offer free repairs during the rental period, while others charge additional fees. Understand the consequences of missed payments, as policies vary between providers. Some may offer grace periods, while others might repossess furniture after a single missed payment. The termination policy is equally important; know what happens if you need to end the agreement early. Finally, check if the contract includes an early purchase option that could save money by allowing you to pay off the furniture before the end of the term.

Rent-to-own furniture provides a viable option for those needing to furnish their homes without significant upfront costs or credit requirements. While the convenience and flexibility come at a premium price, the ability to obtain quality furniture immediately and build ownership over time makes it an attractive solution for many consumers. By understanding the terms, comparing providers, and calculating the total costs, customers can make informed decisions about whether rent-to-own aligns with their financial situation and furniture needs.