You may be wondering how a rent to own car program differs from a typical car leasing program. First, most, if not all of your payments are applied towards the ownership of the vehicle. With car leasing, your monthly payments are not applied towards ownership, leaving you owing a lot of money when your lease agreement ends. With rent to own, when your payments are finished, usually at the end of the term agreement, the car is yours!
Another wonderful thing with rent to own cars dealerships is that there are no credit checks since you are not borrowing money. Many times, nothing is even reported to credit bureaus. Also, you will be able to purchase an older vehicle if you wish, unlike car leasing which usually applies to more expensive, newer model cars. There are also a variety of warranty options you may be able to purchase. This gives you the flexibility of buying more coverage for your car if you feel you need it or less or no coverage if you so desire, a perfect option for the do-it-yourself mechanic. This allows you to save money and provide you with peace of mind knowing you have the right warranty coverage for you.
The rent to own program is gaining in popularity. With stores like Walmart even offering it, the advantages are unmistakable. Never has owning your own car been easier despite your economic situation or doubts about car ownership. However, an important thing is to research both the type of vehicle you would like and can afford, as well as research the dealership you are thinking about visiting. This will ensure that you are knowledgeable about the car, dealership and program, and ensure an easier path to ownership.
If poor or bad credit is hampering your ability to purchase a reliable vehicle, consider rent to own cars. The terms are usually shorter and more negotiable. The payments can be contoured to meet your financial situation, and more affordable and practical vehicles will be available to you. Your credit will not be affected, allowing you to rebuild it at your own time. But best of all, rent to own cars will allow you access to the vehicle you desire.