Electronics For Rent? Should You Lease Furniture?

 

 

If you’re skittish about buying used furniture, check out this article that details how to clean and disinfect furniture that you’ve bought used.

 

 

If it’s a TV, smartphone or other electronic device, you are even better off to buy used or save up the purchase price. Electronics are a huge money maker for rent to own companies, but they are toxic to your budget in the long run.

 

A $350 Samsung Galaxy Tab rented through Aaron’s or Rent-a-Center can cost you well over $1000 through the life of the agreement. That’s $650 straight out of your budget and into the rental company’s bottom line. Not a financially sound plan, but far too many are talked into it by trained salesman.

 

Instead of electronics for lease there are dozens of options to find deals and used devices that are in like new condition. Ebay, Craigslist, Amazon and Facebook are all better places to start looking for a big screen or smartphone.

 

I know renting furniture is costly, but is it ever a good option for buying household items?

 

I will probably regret saying this, but there are maybe a handful of situations where renting to own furniture makes sense. Electronics on the other hand are always best paid for in cash at the time of purchase.

 

In those few cases that renting is acceptable, I would recommend renting the item only until you can find a used replacement or save enough to pay cash upfront.

 

I can tell you firsthand that renting to own is not in your best interest. The companies that offer this service prey on people in tough financial situations who cannot afford to buy furniture with cash. It’s great for the business selling furniture on payments, but bad for us and our personal finance.

 

If you liked my advice on renting furniture and electronics for lease, go ahead and share it to one or more of your favorite networks so others can learn too. Don’t you wanna save your friends and family hundreds of dollars?