Advantages and Disadvantages of Rent to Own Car

Rent to own a car is available and offered to people vehicle under precise agreement. This means that certain person will pay for a vehicle just like renting a car, but instead of giving back the vehicle at the end of the term, a part or in some cases all of the paid money for renting will go toward their vehicle purchase. The vehicle is yours once you made the final payment.

Before decide to make this step you should check if the chosen dealer run this program on that way.

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Advantages

  • Vehicle repair – If the rented vehicle needs to be repaired, this service is free;

  • Many rental vehicles are cheaper, so lots of people decide to pay weekly;

  • You must pay in person;

  • Down payment – most of the agreements do not demand down payment, so the buyers can use the property without making huge front payment;

  • Lots of the rental companies usually don’t demand a credit check before lending the vehicle;

  • Rent to own cars are suitable for those with bad credit.

Disadvantages

  • Rent to own car brands usually are older . This means that rent to own companies do not include warranties. If your car breaks down right after you begin to make your payments , possibly will not have any protection.

  • For some people is difficult to make payments every week on a specific location;

  • Rent to own cars don’t check in with credit agencies (bureaus).

  • Total cost – the total cost to buy a vehicle may be higher with a rent-to-own arrangement.

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