Did you know that the average cost to furnish an entire home is around $16,000? Of course, this number will vary depending on how many rooms you have and the type of furniture you buy. If you are on a tighter budget you might want to consider looking into rent-to-own furniture instead.
Read on to learn the top benefits of “furniture renting” until you own it.
Get Your Merchandise Quickly
One of the main pros of rent to own furniture is that usually, you can leave with your new furniture the same day you visit a store. Unlike a credit card, you typically do not have to deal with a credit check. This is a perfect option for those that are dealing with poor credit scores or are in the process of improving their credit rating.
Low Payments
Another pro of rental furniture is that you have the choice of either a monthly or weekly payment. The other pro is that these payments are not really high and you can adjust them to fit your personal budget.
Paying weekly or monthly payments tends to be a lot more manageable to most people than one large sum. The most common rental terms are 18 months.
Keep in mind that in order for the store to make money they will add a fee to each purchase and then divide that fee among each payment.
You Own the Furniture
Unlike just furniture leasing once you are done making all of the payments in your contract, you will own the furniture and will not have to give it back to the store. You will technically be “renting” your furniture until it is paid off.
Depending on the store where you make your purchase you can pay for the furniture earlier than when the contract expires without a penalty. We recommend double-checking the terms and agreements about paying early to make sure you do not have an extra penalty.
In the event, that you do not like the furniture as much as you thought, some stores will allow you to return the furniture and stop making the payments. This is a great option if you like to change your furniture out often or are indecisive.
Fulfill a Short Term Need
If you have a room in your house that is empty and you have guests coming over then rent-to-own might be the way to go. Going this route can fulfill any short-term needs, such as filling a guest room temporarily, or if you need extra seating because you are having guests over for a gathering.
Another reason is if you are not sure if you will be staying in your place permanently and you don’t want to lug around a bunch of furniture if you decide to move.
Ready to Buy Rent-to-Own Furniture?
Now that you learned the top pros of opting for rent-to-own furniture, you can look for rent-to-own furniture stores in your area to visit.
Feel free to continue browsing our home section here on our blog for some design inspiration.