Rent-to-own (RTO) is the practice of making payments to “rent” merchandise. RTO is also known as a rental-purchase and the money you put toward renting can accumulate toward the final purchase price. RTO stores allow you to get new furniture, appliances, electronics or other merchandise right away rather than having to wait to save up enough money to buy products outright.
You Choose a Budget-Friendly Payment Plan
Flexible cash installment plans put you in control of your rental-purchase. In RTO agreements, customers have options when it comes to making payments. The payment plans we offer include:
Even how you pay is up to you! You can make payments at your convenience either in-store, by phone, online at www.shoprentone.com or on the Rent One Customer Portal app.
Your Credit History Doesn’t Matter
You might be thinking that you won’t be accepted for a payment plan because of your credit history, but renting-to-own is not a loan—so no credit check is conducted and everyone is pre-approved! The only things you need to provide to Rent One to begin your rental-purchase are:
- Your home address
- A source of income
- Personal references (such as family members, friends and neighbors)
You Are Never Obligated To Make the Next Payment
RTO is the only transaction in the marketplace that allows you the option to continue payments or return the product without penalty or damage to your credit. When you no longer need or want to rent a product, just return it. It’s that simple!
When you return merchandise, you receive Reinstatement Rights which means you can reinstate the agreement at a later date if you want to pick back up on payments. In most cases, you will not lose any of the money you already paid toward the agreement.
You Can Purchase Your Merchandise at Any Time
If you want to buy your merchandise before the rental term is up, you can! We offer our customers an Early Buyout option at a discounted price. This means you can own your item faster AND pay less for it.