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What is Rent-to-Own?

The $8.5-billion rent-to-own industry—or RTO— continues to improve its business, customer service and pricing becoming a viable consumer option in the American economy. The unique rent-to-own transaction sprang up in the 1970s in response to a growing consumer need for acquiring the use of household products without incurring debt or jeopardizing the family's credit. Rent-to-own customers come from all walks of life, desiring consumer durable goods in their homes without the long-term financial obligations associated with credit sales. What distinguishes rent-to-own from a retail credit sale is the term "rent." There is no interest charged to consumers, no credit checks involved and customers can return the merchandise at any time for any reason without penalty. This no-obligation, no-debt feature is the cornerstone of rental-purchase. It's easy, it's safe and it's hassle-free as free replacement, repair and delivery are included.

 
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