Rent-to-Own
Rent-to-own is a contract where you take an item home now and pay for it in weekly or monthly instalments, with the chance to own it after many payments. Stores use it for furniture, appliances, electronics, and phones. The weekly amount looks small, which is why it can feel possible when a regular store or a bank loan does not.
Over the full contract, the same item can cost far more than the shelf price, sometimes up to four times as much. If you miss payments, you can lose the item and the money you already put in. These stores operate in both the United States and Canada.
