When consumers in a national study asked if “180 days same as cash” payment plan option would fit in their budget when shopping rent to own home furnishings, the answer was a resounding ‘yes’.
Almost all rent to own stores or RTO stores offer 90 days same as cash payment plan. Some go to 120 days and even others go up to 180 days. If customers have the ability to create a rent to own payment plan within 180 days that gives them the same competitive retail price then they were ready to own.
You get to buy the item at a retail price but never having the legal debt or obligation as long as you pay the amount within the 180 days. That is significantly difference than a 6 month loan or extending credit for a six month period.
With rent to own, the customer is not legally obligated to purchase the product as in a credit sale. There’s no legal debt. No legal contract to make the next payment and you can return the product at any time for any reason at no penalty.
If you can’t make the total payments then you’re put on a traditional rent to own payment plan in which you will pay more in the long run if you choose to continue payments. But, rent to own stores offer early purchase options where you pay 1/2 the remaining balance and own it in one fell swoop.
Some respondents thought 90 days may be too tough to make the proper payments. 120 days seemed better but if given 180 days to pay off that bedroom set they were excited with that payment plan.
Now the question is if your local rent to own stores offer 180 days same as cash. Make sure to check around and ask for all of the details regarding their “same days as cash” option.