Rent-to-own, also known as rental-purchase, is a type of legally documented transaction under which tangible property, such as furniture, consumer electronics and home appliances, is leased in exchange for a weekly or monthly payment, with the option to purchase at some point during the agreement. Differing from traditional methods of purchase, rent-to-own transactions are not obligations to purchase, since the agreement can be terminated by the lessee at any point in time with the return of the property.
Thank you for reading this post, don't forget to subscribe!