How much interest do you charge with your rent-to-own program?

Written by webmaster on . Posted in

None. You rent the building while you are making payments on it. We are regulated by the Oklahoma Department of Consumer Protection and use the same basic 36-month contract that other rent-to-own programs use. The state dictates the terms, specifying that 60% of your monthly payment shall pay the purchase price of your building. The other 40% pays rent for that month. To illustrate, if you buy a building worth $3000, your contract will show that you owe $5000. And of every $100 that you pay, $60 will be paying on the building and $40 will be paying rent. The good news is . . . you don’t have to pay rent for 36 months! You can pay your building off at any time and the rent payments stop. Your pay-off amount will be just 60% of your contract balance.

Posted in: General FAQ

webmaster

This information box about the author only appears if the author has biographical information. Otherwise there is not author box shown. Follow YOOtheme on Twitter or read the blog.