modern living room with flat screen tv

Rent-to-Own for TVs

The increasingly popular option of getting rent-to-own TVs has given more options to consumers than ever before. This option can help make furnishing your home the products you love more realistic, even with less-than-stellar credit history.  Learn about these important aspects of getting rent-to-own TVs financing below:

  • Can You Rent-to-Own a TV?
  • How Does Rent-to-Own Financing Work for TVs?
  • What Kinds of TVs Can You Lease?
  • Who Offers Rent-to-Own for TVs?
  • FAQs About Rent-to-Own TVs

Rent-To-Own TVs – What Is It?

Rent-to-own TVs are rental-purchase solutions that may help give shoppers access to televisions by paying periodic rental payments rather than paying in-full, up front. If approved, this means that you pay an initial rental payment or processing fee, and in return, get to take home the TV without having to pay the full retail price on day one. It’s a flexible payment option that can help people with bad credit access quality household items such as TVs.

The rental payment you make goes towards paying off the TV lease, and after you have fully paid the total cost at the end of the rental agreement or earlier, you take full ownership of the TV.

couple shopping for a tv in store and talking to an associate

The rent-to-own sector gained popularity in the late 1960s due to banks turning down people with bad credit. One store owner took advantage and developed the rent-to-own concept, which has now grown into an $8.5 billion a year industry.

There are over 9,200 rent-to-own stores across the US, serving more than 4.5 million customers each year. The RTO sector provides new options to consumers with credit challenges, who may lack savings and have limited options for getting quality electronics like televisions and other goods. American First Finance’s (AFF) network of thousands of stores helps provide our customers with the broad selection of high-quality televisions they’re looking for – find a store near you to apply.*

*Payment solutions vary based on merchant and will be indicated at the beginning of the application process. Be sure to confirm that the merchant you select offers the lease, loan, or cash purchase solution you intend to apply for.

How Does Renting-To-Own TVs Work?

A rent-to-own payment option entails a short rental contract which includes scheduled, periodic rental payments over time. It’s a relatively new leasing solution for customers with no or less-than-immaculate credit history, because it can help them get access to necessary household items and goods even with bad credit.

Unlike other purchasing options like in-store credit, the RTO is not a loan and has no interest. Please note that although the RTO model does not include interest, there are generally comparable leasing fees included.

Woman Compares TVs

When applying for an RTO payment option, an in-store merchant may run a credit check to determine whether you are eligible.

Suppose you want to purchase a $700 TV. You may choose to pay the total cash price outright or apply for a lease contract that allows you to pay periodic renewable payments.

Under American First Finance’s rental-purchase agreement, there are three options you can choose to own the TV:

  • Early Buyout Option (EBO) –  save on rental fees by paying off your RTO agreement in full early, often within 90 or 101 days, and own the TV earlier.
  • Early Purchase Option (EPO) – pay off your RTO agreement after the EBO but before the end of your agreement term.
  • Full payment option – pay for the TV for the entire term of your RTO agreement.

You can apply with American First Finance in just a few minutes. If you’d like to apply for a rental-purchase solution option and have no or bad credit, you can still apply right here on our website.  Approvals are never guaranteed, but bad credit won’t necessarily prevent you from being approved. We take more into consideration than just your credit score but may check credit. Find a store and click “Apply” to get started.*

Popularity of Rent-To-Own for TVs

A study by the Federal Reserve showed that 40% would struggle to cover a $400 emergency. And with 23% of American families lacking a credit card, 7.8 million households in America remain unbanked. 

As a result, many people are unable to obtain loans and financing to get quality household appliances. Hard economic times, rising unemployment among Americans, and less-than-perfect credit have led to a surge in demand for RTO services.

What Kind of TVs Can You Rent-To-Own?

You can rent-to-own a variety of TVs, whether smart LED TV or another type, and have a large selection of screen sizes for all your entertainment experience. Most home theaters today have built-in special offers including streaming capabilities for your favorite shows on Netflix, Roku TV, or YouTube. These are also perfect for playing your favorite consoles on, such as a PS5 or Xbox!

Rent-to-own TVs can include quality, top brands televisions to make your entertainment space even better. Since the total lease price is broken down over periodic payments, it can allow access to higher-quality TVs since payments spread out across many months.

Notable Rent-To-Own TVs

Here are some TV varieties that you might find available on a rent-to-own basis.

*Payment solutions vary based on the merchant and will be indicated at the beginning of the application process. Be sure to confirm that the merchant you select offers the lease, loan, or cash purchase solution you intend to apply for.

Organic Light-Emitting Diode (OLED) TVs

OLED TVs, people love them. With their excellent resolution, quality pictures, and various screen sizes, they have become a necessity for every living room in many homes. An OLED smart TV gives you a breathtaking TV experience while streaming favorite shows or playing your favorite games.

Notable OLED TV brands include LG, Samsung, Sony, and Vizio.

Notable OLED TV Brands

  1. LG
  2. Samsung
  3. Sony
  4. Hisense
  5. Vizio
  6. Sharp
  7. Panasonic
  8. Haier
  9. Insignia
  10. Philips
blurred image of tv store sale display

Quantum Light Emitting Diode (QLED)

QLED TVs are a recent addition to the TV world, featuring tiny nanoparticles (quantum dots), drastically improving color and brightness. Most QLED TVs today are 4K UHD. The QLED TV technology enhances picture quality and provides a broader range of colors than any other TV around. This is achieved by manipulating the nanoparticles which sit between the LED backlight and the glass cover of the 4K UHD TV.

They have also gained popularity among the US population for their better contrast, larger screen sizes, durability, and lower electricity consumption. With their huge screen sizes, they improve your entertainment experience and provide an outstanding movie-watching experience.

Some of the prominent manufacturers of QLED TVs include LG, Samsung, TCL, Panasonic, Hisense, and Sony.

Notable QLED TV Brands

  1. LG
  2. Samsung
  3. Insignia
  4. TCL
  5. Hisense
  6. Panasonic
  7. Sony
  8. Philips
  9. Vizio
  10. Sharp
man looking at tvs in electronics store

Liquid Crystal Display (LCD)

LCD TVs have been a popular display device for on the lower-cost side consumer TVs. When most TV sets used cathode ray tubes (CRTs) as screen devices, LCDs were hailed as the successor of CRTs due to their distinct advantages regarding weight and power consumption.

They have advanced to put out DLP and Plasma televisions and have so far remained the most common TVs for homes, offices, and other similar spaces. Leading LCD TV brands include Samsung, Sony, LG, and Panasonic.

Notable LCD TV Brands

  1. Samsung
  2. Sony
  3. LG
  4. Panasonic
  5. Philips
  6. JVC
  7. Vizio
  8. Sanyo
  9. Sharp
  10. Toshiba
Woman Looks At TV Price

Apply for a Rent-To-Own Television Near You

Many large purchases require a credit card. However, consumers with no or bad credit may be considered high-risk borrowers by financial institutions and often find it challenging to qualify for loans at competitive rates. Experian refers to bad credit as scores below 580 due to a history of missing bill payments and failing to pay your bills.

A lot of people with credit challenges find it challenging to make large purchases that require a credit card. This makes furnishing their homes with quality products a challenge. As a result, most people with bad credit may be forced to get second-hand or low-quality televisions for their homes. A rent-to-own television plan gives them a better solution to get top brand TVs without making substantial upfront payments. Please note that a processing fee or initial rent payment may be required for a rent-to-own contract.

 

man talking to store associate about tvs in electronics store

Rent-To-Own TVs Options in Summary

Rent-to-own is a flexible payment solution option for approved applicants who want to have a TV but can’t afford full, up-front payment. RTO for TVs allows them to make small payments spread out over time while enjoying the products they choose. Rent-to-own for televisions can help customers get access to a high-quality television, without paying for it in full up front. Please note that a processing fee or initial rent payment may be required for a rent-to-own contract.

Apply for a Rent-To-Own TV Online

American First Finance partners with many popular merchants across the United States, giving you the opportunity to rent-to-own TVs from a wide variety of different brands and styles. Find a Store near you.

*Payment solutions vary based on the merchant and will be indicated at the beginning of the application process. Be sure to confirm that the merchant you select offers the lease, loan, or cash purchase solution you intend to apply for.

Rent-To-Own TVs FAQs

Here is a list of some frequently asked questions about rent-to-own TVs.

 

Q: What Does Rent-To-Own Mean?

A: Rent-to-own is a flexible payment method that allows people with bad credit scores to access quality products without having to purchase upfront and in full. This can be an option that helps people with a challenged credit history still access products they need or want.

 

Q: What Credit Score Qualifies for Rent-To-Own?

A: Credit score isn’t generally the only consideration during an RTO application. If you apply with American First Finance, your credit will be checked, although bad credit won’t necessarily lead to a denial.

 

 

Q: Where’s the Best Place to Rent-To-Own TVs?

A: There are many options when looking for rent-to-own TVs.  AFF works with thousands of partners across the US.  To apply with American First Finance, find a store near you.**

*Subject to approval and standard underwriting criteria. Applications may be for payment solutions through American First Finance or loans from FinWise Bank, a Utah-chartered bank, Member FDIC. Products may vary by location. Terms and conditions are subject to change at any time without prior disclosure or notice.

 

 

Q: How Can I Apply for Rent-To-Own TVs?

A: You can apply for rent-to-own TV options right here on our website. Not everyone will be approved, but having bad credit doesn’t automatically mean you’ll be denied. Your credit will be checked, but having no or a low credit score doesn’t necessarily disqualify you. First, select your preferred store near you, and you can apply directly in minutes.

 

Q: Where Can I Shop for a Rent-To-Own TV?

A:  Where you can use your payment solution to lease to own a TV will depend on the company you choose to sign a contract with.  If you’d like to apply on our site for a store within our network, you can start by finding a store near you*.  Submit an application for a decision in as little as minutes.**

*Subject to approval and standard underwriting criteria. Applications may be for payment solutions through American First Finance or loans from FinWise Bank, a Utah-chartered bank, Member FDIC. Products may vary by location. Terms and conditions are subject to change at any time without prior disclosure or notice.

**Decisions and funding may take additional time and not be same-day, including if more information is needed to complete the application.

 

Q: Can You Get Free Delivery on Rent-To-Own TVs?

A: Delivery terms depend on a number of factors including product availability and in-store policy.