Rent to own household goods.

Canada
January 24, 2012 12:44pm CST
The other day, as I sat on my crappy couch trying to surf with lousy internet, I realized that I really needed to do something about things around here. I remembered that my roommate was talking about rent to own furniture, so I decided to look into it. I found what I wanted and got the pricing details on one site, the other never gave prices, so I had no idea what I would be in for. I did the application to both places, and one got back to me yesterday. I gave them all the information they wanted, and they said they'd forward my order on to the store. Well, I get a call a little while ago, and while on the site, I was being told that they didn't have what I was looking for. Then I realized that I was on the wrong website, talking to the completely wrong company. Hahaha, well, I was so embarrassed about that. But I guess anyone could do that. Well, the pricing from the one company that had nothing listed on their site was expensive, except for the LCD tvs. They seemed to be the only reasonably priced items on their site. So now, I'm waiting for the other company to call me, so we can confirm a few items. I'm lucky that both stores are so close to each other, I can go check both of them out at the same time, and I will be doing that, hopefully tomorrow. But the fact of the matter is, the furniture that I want, only one store carries it, the other one doesn't, and couches are far too expensive at the one place. I'm looking at 2 futon couches for $18/week vs a couch and loveseat for $32/week. $30/week for a fridge compared to $22/week for the same fridge at the other place. But I think it might depend on how long the rental period is as well. The other, more expensive place may turn out to be a shorter rental period, but I'm not sure. I need to sort this out quickly as I really hate sitting on a couch that's missing springs and is painful to sit on when you sit on the wood framing accidentally.
3 people like this
9 responses
@cher913 (25893)
• Canada
24 Jan 12
its a nice idea in theory however, by the time you have paid for the item you bought, you almost end up paying double the real cost of the item.
1 person likes this
• Canada
24 Jan 12
I am aware of that. But at the moment, we have no money to put down on anything, and can't find anything useful for free. So for the time being, we have to go this route. I'm really getting tired of feeling the wood frame of the couch on my hip bones.
1 person likes this
• Grand Junction, Colorado
24 Jan 12
@ cher it's more than double in most cases. One nice thing is that during the time that you rent it it's covered. So if something happens to it they will have it fixed for free and send out a replacement item (not always the same model) while the other is being repaired. So on electronics it's covered for longer than a year in most cases, due to the length of the contract.
1 person likes this
• Canada
25 Jan 12
156 weeks for our rental contract if we get in with Easyhome. I want to get in with them rather than Rentacenter, the pricing is better. But we have to go with the extra protection in order to get the warranties and return options, and we'll do that if it keeps us covered.
@peavey (16319)
• United States
24 Jan 12
You would save a lot of money by buying something second hand. Even at the cheaper $18 a week adds up to over $72 a month. In about six weeks you'd have over a hundred dollars you could use for a second hand couch. Of course, I'm frugal and I want my money to do what I want it to, so I keep a close watch on things like that. Do you need a refrigerator or just want one? If you don't absolutely need one right now, save the cost of renting one until you have enough money to buy one. You'll be money ahead by far.
1 person likes this
• Canada
25 Jan 12
The one we have now uses up so much electricity that it's costing us far too much. Having a new one that is energy star rated means our electricity bill will drop leaving us with a little more money for these items.
• Canada
25 Jan 12
We also need a larger fridge. There's just not enough room in the one we have now, and they have a larger size that will work for all of us.
• Grand Junction, Colorado
24 Jan 12
We have rented a lot of items from them over the years, most of the time we have been able to pay off items sooner than the contract. A few times even paid of within the 90 days same as cash. It has worked well for us. There are of course negatives as mentioned. You pay more than if you walked into a store and bought it out right. But then those stores only give you a one year manufactures warranty, where in the rent to own stores cover it through the duration of the rental agreement. (You of course are still paying for it, lol) So if the TV stops working after 16 months it's still covered if your still making payments. They do deliver and set up. However, I have been in the store making a payment with irate people yelling about them taking the stuff back when they were only a few days behind in payments. In other wards, they have no sympathy for missed payments, they will come and get the stuff back. I have been fortunate that this hasn't happened to me, I have always just taken something back when I knew the future wouldn't allow me to keep making payments on things. (It's only happened twice) It is also a way to establish a credit history or to get a credit history back on track. You could check out craigslist for free or even items for sale. I got a gorgeous entertainment center last week for free. It's huge and has lots of storage, solid. Deals can be found sometimes they just take a bit of time to find. Good luck.
1 person likes this
• Grand Junction, Colorado
24 Jan 12
Just want to add I have never purchased something that wasn't brand new. I always get stuff that has just come in or has to brought in from somewhere else. Now you can get some good deals on used stuff if you walk in to pay cash. People will rent TV's for special events for a day or a week and you could end up with a great TV for even cheaper.
@SomeCowgirl (32271)
• United States
24 Jan 12
I think I may have to either go with that or go with goodwill when I get my own place. I've thought of putting furniture on layaway but then it's whose going to deliver it. Atleast with the rent to own places I think they deliver it. I'd be sure to ask if maybe the place that's more expensive has a shorter rental period, it may be just as easy to go with them, get it over with faster. If I were to do anything, I'd be getting a sleeper sofa and a bed and dresser that is all I would really need.
1 person likes this
• Canada
24 Jan 12
These guys deliver and set up for free, which is a bonus. I couldn't haul it all home myself, and it's difficult to get it inside. I had that problem when I brought home this current couch. Barely fit through the front entrance. The new couches, depending on what I get, may have to come through the back door. It may be the only way to get them inside.
1 person likes this
@dheckerz (473)
• Philippines
24 Jan 12
Oh! That's a good deal. I'll try to search online and maybe find something that I need to that offers that kind of payment schedules. I just moved into a new pad and this one is more spacious and I'm thinking of buying stuffs to make it really good and homey.
1 person likes this
@sid556 (31006)
• United States
24 Jan 12
Hi Kris, I got my kitchen table that way. I would never reccomend it to anyone although there are many that would disagree with me. What I found was that for one thing, the table was 2nd hand and the chairs that came with it were cheaply made. I paid about 2000.00 for that stupid table over time when I could of gotten a good used one for under 100.00 or even a brand new table much cheaper. What pulls people in is the cheap weekly rates. If you took that same cash and stashed it away, you'd get the item much cheaper. Also, remember that you could lose that merchandise with just a missed payment and then you will have nothing to show for all your money. It isn't yours until the very last payment is made.
• Grand Junction, Colorado
24 Jan 12
Actually you don't loose it at rent a center. A couple of years ago I was renting a computer and then had to close my business and couldn't afford the payments, so I boxed it back up and took it back. They have sent me, every few months a letter asking me back and showing my credit to come in and purchase the same or similar item. So Last week I went in, as I desperately needed a laptop and got the $458 off the item. I am of course still paying more in the long run, but since I can't afford to go out and buy it out right it is working out great. They also have a cash price that if you pay it off in 90 days, it's cheaper you don't have all that interest for making payments to pay.
@sid556 (31006)
• United States
24 Jan 12
Oh well that's cool. I didn't realize they did that. Ok so it probably is an easier way to buy things to those that don't have the money to pay outright for things. I had a friend that used to do rent-way and what I remember most about it is that one day you could go visit her and she had furnishings that were beautiful and that my girls envied. Another day...we'd be sitting on the floor in a bare room sipping coffee. Also, when I realized that my table was damaged and the chairs were cheap and did not match, I wanted to trade it for something else...less than two weeks into the deal and was told that I could. Two weeks later, they showed up and told me that I'd have to start over with payments on a new table so I kept the table I got since at that point, I'd already sunk nearly 200.00 into it. So it sounds as if rent a center has a different policy...good to know.
• Grand Junction, Colorado
24 Jan 12
They have been great for us. They have never come and got our stuff, but then we are never late. When I know that times are going to get tough (has happened twice) I just pack it up and take it back. They have taken it back with no problems. I have gone back at a much later date (more than 2 years) to get a similar item, they just deduct the amount that I have already paid for the item. I'm also not happy about my kitchen chairs, but I will live with them. I don't like anything else that they have or it won't fit. I think that the longest that they let someone go is 2 weeks but in most cases it's only a week for non payment. I think the problem a lot of time is that while it sounds cheap to rent something by the week, those weekly payments add up at the end of the month. It's all about knowing how much you can afford to spend each month even though it's spread out over the month. I do my payments every 2 weeks, they fall on my husbands payday. So if you can't afford a $100 a month furniture payment then can't afford $25 a week either.
@Hatley (164743)
• Garden Grove, California
24 Jan 12
hi kris I had some experience years back with rent to own as just aout the time its clear the piece is falling apart because it looked to be used by someone else before. the couch was awful, the refrigerator too small and actually the stuff we rented cost more in the long run then saving and buying new as you can ]afford it.hope you have a better experience.
• Canada
25 Jan 12
I hope so too, I've never done anything like this before, but my roommate says that it's good as he's done that before.
@anne25penn (3310)
• Philippines
25 Jan 12
I wish we had such deals here in my country, but everything here you have to buy outright. Unless you do have a credit card, then you can pay by installment. I don't have a credit card having been burned by interest rates a few years ago so when I need to replace furniture or appliances, I pay in cash. The last item I bought was our refrigerator. Our old and trusty refrigerator had broken down after ten years and it was as if all appliances had talked to each other and agreed on one thing, the washing machine broke down a week after! Next was the electric fan and toaster. Good thing I wasn't using the coffee machine and blender that much, they must've opted out when the appliances voted on who would like to retire first. And since a refrigerator here costs so much, I had to wait two to three months to get the money for the brand and model that I liked. Then after a month, I was able to replace the washing machine. Then the electric fan. And all these, I had to pay in cash since we don't have deals like yours.
@cutepenguin (6457)
• Canada
25 Jan 12
From your responses to other posters, it sounds like this is your only option, so I hope it works out for you. We were lucky enough that the secondhand furniture we got from friends and family has all worked out well, and while we've had to buy new furniture over the years, we've been able to space it out. I still remember, though, how my roommate and I couldn't afford a couch, so we took every cushion and pillow we owned and made a couch shaped pile.