Renting to own means you rent the television for a certain amount of time and part of the rental payment goes toward the purchase of the television. The problem with this is it can cost you a lot more than it would if you brought it outright, but it's a way to own your television eventually.
Instructions
1. Check the price of the television to see if you can afford it. If not, check to see if you can get credit. If these aren't options, see if you can rent to own the television.
2. Take into consideration the pluses and minuses of renting to own a television. The benefit, of course, is you get the television now instead of having to wait until you save up for it. On the downside, you may pay two or three times the price of what the television is really worth, which may not be worthwhile.
3. Rent the television after looking at the agreement. Usually you will have to pay a certain amount either weekly or monthly for a certain amount of time. Each payment gives you equity in the television, however if you miss a payment, you may have to forfeit the money you had invested.
4. Read the contract carefully so you know exactly what you are getting into. Rental companies deal with new and used televisions so be sure you know which you are getting.
5. Check to see if you make extra payments, where these payments go. If you have to make 50 payments, see if the extra payments you make reduces the time or reduces the payments. For example, if the 50 payments add up to $700, if you pay it faster, see if it will it reduce the total amount you pay or just the amount of time you have to pay it.
6. Consider saving the money and buying the $200 television outright rather than renting the television now.
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