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Rent-to-own

Index Rent-to-own

Rent-to-own, also known as rental-purchase, is a type of legally documented transaction under which tangible property, such as furniture, consumer electronics, motor vehicles, home appliances and real property, is leased in exchange for a weekly or monthly payment, with the option to purchase at some point during the agreement. [1]

51 relations: Aaron's, Inc., Alternative financial service, Arkansas, Brookings Institution, Closed-end leasing, Consumer electronics, Continental Europe, Credit, Down payment, Europe, Federal law, Federal Trade Commission, Financial crisis of 2007–2008, Furniture, Government Accountability Office, Guam, Hire purchase, Home appliance, Installment loan, Layaway, Lease, Lease purchase contract, Leasehold estate, Maine, Market rate, Massachusetts, Minnesota, Motor vehicle, New Jersey, Obligation, Ownership, Payday loan, Puerto Rico, Real estate, Real property, Rent-A-Center, Repossession, Right of first refusal, Tangible property, The New York Times, Title (property), Truth in Lending Act, United Kingdom, United States, United States Department of Defense, United States district court, University of Massachusetts Dartmouth, USA Today, Vehicle leasing, Washington, D.C., ..., Wisconsin. Expand index (1 more) »

Aaron's, Inc.

Aaron's, Inc. is a lease-to-own retailer.

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Alternative financial service

An alternative financial service (AFS) is a financial service provided outside traditional banking institutions, on which many low-income individuals depend.

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Arkansas

Arkansas is a state in the southeastern region of the United States, home to over 3 million people as of 2017.

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Brookings Institution

The Brookings Institution is a century-old American research group on Think Tank Row in Washington, D.C. It conducts research and education in the social sciences, primarily in economics, metropolitan policy, governance, foreign policy, and global economy and development.

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Closed-end leasing

Closed-end leasing is a contract-based system governed by law in the U.S. and Canada.

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Consumer electronics

Consumer electronics or home electronics are electronic (analog or digital) equipments intended for everyday use, typically in private homes.

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Continental Europe

Continental or mainland Europe is the continuous continent of Europe excluding its surrounding islands.

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Credit

Credit (from Latin credit, "(he/she/it) believes") is the trust which allows one party to provide money or resources to another party where that second party does not reimburse the first party immediately (thereby generating a debt), but instead promises either to repay or return those resources (or other materials of equal value) at a later date.

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Down payment

Down payment (or downpayment, also called a deposit in British English), is a payment used in the context of the purchase of expensive items such as a car and a house, whereby the payment is the initial upfront portion of the total amount due and it is usually given in cash at the time of finalizing the transaction.

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Europe

Europe is a continent located entirely in the Northern Hemisphere and mostly in the Eastern Hemisphere.

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Federal law

Federal law is the body of law created by the federal government of a country.

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Federal Trade Commission

The Federal Trade Commission (FTC) is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act.

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Financial crisis of 2007–2008

The financial crisis of 2007–2008, also known as the global financial crisis and the 2008 financial crisis, is considered by many economists to have been the worst financial crisis since the Great Depression of the 1930s.

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Furniture

Furniture refers to movable objects intended to support various human activities such as seating (e.g., chairs, stools, and sofas), eating (tables), and sleeping (e.g., beds).

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Government Accountability Office

The Government Accountability Office (GAO) is a legislative branch government agency that provides auditing, evaluation, and investigative services for the United States Congress.

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Guam

Guam (Chamorro: Guåhån) is an unincorporated and organized territory of the United States in Micronesia in the western Pacific Ocean.

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Hire purchase

A hire purchase (HP) or known as installment plan in the United States is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment (e.g. 40% of the total) and repays the balance of the price of the asset plus interest over a period of time.

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Home appliance

Home appliances are electrical/mechanical machines which accomplish some household functions, such as cooking, cleaning, or food preservation.

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Installment loan

An installment loan is a loan that is repaid over time with a set number of scheduled payments; normally at least two payments are made towards the loan.

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Layaway

Layaway (lay-by in Australia, New Zealand, and South Africa) is an agreement in which the seller reserves an item for a consumer until the consumer completes all the payments necessary to pay for that item.

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Lease

A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset.

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Lease purchase contract

A Lease-Purchase Contract, also known as a Lease Purchase Agreement, is the heart of rent-to-own properties.

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Leasehold estate

A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or landlord.

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Maine

Maine is a U.S. state in the New England region of the northeastern United States.

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Market rate

The market rate (or "going rate") for goods or services is the usual price charged for them in a free market.

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Massachusetts

Massachusetts, officially known as the Commonwealth of Massachusetts, is the most populous state in the New England region of the northeastern United States.

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Minnesota

Minnesota is a state in the Upper Midwest and northern regions of the United States.

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Motor vehicle

A motor vehicle is a self-propelled vehicle, commonly wheeled, that does not operate on rails, such as trains or trams and used for the transportation of passengers, or passengers and property.

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New Jersey

New Jersey is a state in the Mid-Atlantic region of the Northeastern United States.

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Obligation

An obligation is a course of action that someone is required to take, whether legal or moral.

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Ownership

Ownership is the state or fact of exclusive rights and control over property, which may be an object, land/real estate or intellectual property.

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Payday loan

A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a small, short-term unsecured loan, "regardless of whether repayment of loans is linked to a borrower's payday." The loans are also sometimes referred to as "cash advances," though that term can also refer to cash provided against a prearranged line of credit such as a credit card.

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Puerto Rico

Puerto Rico (Spanish for "Rich Port"), officially the Commonwealth of Puerto Rico (Estado Libre Asociado de Puerto Rico, "Free Associated State of Puerto Rico") and briefly called Porto Rico, is an unincorporated territory of the United States located in the northeast Caribbean Sea.

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Real estate

Real estate is "property consisting of land and the buildings on it, along with its natural resources such as crops, minerals or water; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.

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Real property

In English common law, real property, real estate, realty, or immovable property is land which is the property of some person and all structures (also called improvements or fixtures) integrated with or affixed to the land, including crops, buildings, machinery, wells, dams, ponds, mines, canals, and roads, among other things.

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Rent-A-Center

Rent-A-Center (commonly referred to as RAC, Rent-A-Centre in Canada) is an American public furniture and electronics rent-to-own company based in Plano, Texas.

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Repossession

Repossession is a term used to describe when.

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Right of first refusal

Right of first refusal (ROFR or RFR) is a contractual right that gives its holder the option to enter a business transaction with the owner of something, according to specified terms, before the owner is entitled to enter into that transaction with a third party.

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Tangible property

Tangible property in law is, literally, anything which can be touched, and includes both real property and personal property (or moveable property), and stands in distinction to intangible property.

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The New York Times

The New York Times (sometimes abbreviated as The NYT or The Times) is an American newspaper based in New York City with worldwide influence and readership.

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Title (property)

In property law, a title is a bundle of rights in a piece of property in which a party may own either a legal interest or equitable interest.

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Truth in Lending Act

The Truth in Lending Act (TILA) of 1968 is a United States federal law designed to promote the informed use of consumer credit, by requiring disclosures about its terms and cost to standardize the manner in which costs associated with borrowing are calculated and disclosed.

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United Kingdom

The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed with some organisations, including the and preferring to use Britain as shorthand for Great Britain is a sovereign country in western Europe.

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United States

The United States of America (USA), commonly known as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.

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United States Department of Defense

The Department of Defense (DoD, USDOD, or DOD) is an executive branch department of the federal government of the United States charged with coordinating and supervising all agencies and functions of the government concerned directly with national security and the United States Armed Forces.

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United States district court

The United States district courts are the general trial courts of the United States federal court system.

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University of Massachusetts Dartmouth

The University of Massachusetts Dartmouth (UMass Dartmouth or UMassD) is one of five campuses and operating subdivisions of the University of Massachusetts.

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USA Today

USA Today is an internationally distributed American daily, middle-market newspaper that serves as the flagship publication of its owner, the Gannett Company.

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Vehicle leasing

Vehicle leasing is the leasing (or the use) of a motor vehicle for a fixed period of time at an agreed amount of money for the lease.

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Washington, D.C.

Washington, D.C., formally the District of Columbia and commonly referred to as Washington or D.C., is the capital of the United States of America.

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Wisconsin

Wisconsin is a U.S. state located in the north-central United States, in the Midwest and Great Lakes regions.

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Redirects here:

Rent to own, Rent to own (real estate), Rent to own home, Rent to own homes.

References

[1] https://en.wikipedia.org/wiki/Rent-to-own

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