An alternative way for you to purchase items, such as electronics and furniture is a lease purchase agreement or a rent-to-own. You may not have the credit or money to pay for items in full at the time of purchase. This type of purchase has both good points and bad points. While some rent-to-won contracts are monthly or bi-weekly, others may be weekly.
Application Process for Rent to Own Ashley Furniture
A rental application form will have to be completed at the business that is conducting the rent-to-own transactions . The application ask for the basic information such as name, address, phone number, and social security number. Most rent-to-own companies do credit checks, however a reference presented by the applicant is recommended. In most cases employment information will also be asked for when filling an application form. Proof of residence and income such as check stub and utility bill will also be required.
Down Payment and Delivery of Rent to Own Ashley Furniture
Once your application has been approved , a down payment , the amount determined by the company, may be required. It may include a waiver fee, delivery fee, or rental fee, which cover theft of the merchandise or damage. It will set up a delivery time. When it is delivered, most rent-to-own companies will put together the merchandise and set up any electronics.
The company will usually fix any merchandise that breaks through normal wear and tear, for the length of the rent-to-own contract. However, that is not always the case. There will be exceptions , where the renter will be responsible for the repairs. For example, you should fix or pay, if the damage was not due to normal tear and wear or if you are behind on the rent.,The rental payments have grace period of about 5 to 7 days. The company will make arrangements to pick up the merchandise or may try to work out a new payment plan , if you are later than that on payments.
Fees and Cost of Rent to Own Ashley Furniture
Rent-to-own transactions are usually more expensive than buying merchandise outright. This is because the waiver fees, which are finance fees or service fees are tacked on to the payments. To calculate these, you should add 10 percent of the payment price. Sales tax is commonly charged on the purchase on top of that. Because of this, rather than spending money on the rent-to-own contract, saving up for the item may be a better solution for some people, if you do not need an item right away. However, a rent-to-own purchase may be the best option, if there is an essential item than you need and you do not have the money.