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 with 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:
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 upfront. 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.
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 rent-to-own 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 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.*
**Please Note: 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 alternative payment solution you intend to apply for.
A rent-to-own payment option entails a short rental contract that 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 with bad credit.
Unlike other purchasing options like in-store credit, rent to own is not a loan and has no interest. Please note that although the rent-to-own model does not include interest, there are generally comparable leasing fees included.
When applying for a rent-to-own 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:
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.*
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 rent-to-own services.
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. These are also perfect for playing your favorite consoles.
Rent-to-own TVs can include quality, top brands of 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 are spread out across many months.
Here are some TV varieties that you might find available on a rent-to-own basis.
**Please Note: 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 alternative payment solution you intend to apply for.
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 your favorite shows or playing your favorite games.
Notable OLED TV brands include LG, Samsung, Sony, and Vizio.
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.
LCD TVs have been a popular display device for 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.
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. Bad credit 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.
Rent-to-own is a flexible payment solution option for approved applicants who want to have a TV but can’t afford the full, up-front payment. Rent-to-own TV 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 upfront. Please note that a processing fee or initial rent payment may be required for a rent-to-own contract.
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.*
**Please Note: 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 alternative payment solution you intend to apply for.
Here is a list of some frequently asked questions about rent-to-own TVs.