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Thread: Rent to Own?

  1. Friendly Neighborhood Fabric Pimp
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    #1

    Rent to Own?

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    Anyone ever do this? We wouldnt actually be renting to own just renting. But weve noticed going this route can be cheaper. Pros/Cons? Have you ever done it?
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    #3
    It's pretty much always a rip off. Unless you are only going to rent for a couple months, it's cheaper to buy than to rent. You'll end up paying more in rent than you would to just buy the thing, and if you buy it you can always sell it later and get some money back if you move and don't need it anymore.
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    #4
    with rent to own a misconception is ALL your rent gets applied to the future loan- or down payment it does not- and most will only apply 5-10% a month- for a 1,000 rental amount that is only 50-100 dollars.
    if you sign a 12 month contract- you agree to buy or forfiet the money at 12 months- so in essence you just rented after all

    your best bet is owner financed- or a land contract .
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    #5
    Oh, I assumed you were talking about renting appliances, not homes. Sorry.
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    #6
    Also, you are responsible for the house (in most contracts) in a rent to own. Meaning there's no landlord to come and fix things when they break. I've never seen one personally that wasn't a scam.
    Never do anything halfway unless you want to be half happy.

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