grey couch with green accents next to office desk

Rent-to-Own Furniture

Getting rent-to-own furniture has become more popular than ever before, giving consumers more options than ever. Even with a less-than-stellar credit history, this option can make furnishing your home more realistic. Here is what you need to know about getting a rent-to-own furniture lease:

  • What is Renting-to-Own Furniture?
  • How does rent-to-own Furniture Financing Work?
  • What Kinds of Furniture Can You Rent-to-Own?
  • Who Offers Rent-to-Own  Furniture?
  • FAQs About Rent-to-Own Furniture

Rent-to-Own Furniture – What Is It?

What is rent-to-own furniture? Also known as lease-to-own furniture, this payment plan can allow one to lease brand-new furniture through periodic, arranged payments. If approved, this payment plan may provide you immediate access to the furniture you need without a huge cash outlay.

 

light brown wood bedroom set with white and yellow accents

Many people favor the rent-to-own furniture model because of its core benefits, including:

  • Potential access to brand-new, name-brand furniture
  • Manageable periodic payments
  • Access to trendy pieces that are expensive to get up-front.

There are thousands of stores that offer rent-to-own furniture in the US, and they cater to an underserved market with millions of people each year.

Traditionally, people turned to banks for lending when buying furniture. Rent-to-own furniture stores stepped in to help people furnish their homes through leasing. Over the years, the rent-to-own market has expanded to serve millions of people.

How Does Rent-to-Own Furniture Work?

Rent-to-own furniture is often an easy and proven way to get new furniture for your home without having to pay for the merchandise up front. It may allow people with bad credit lease new furniture without saving for months or years to buy it outright.

Most rent-to-own furniture stores offer an Early Buyout Option which allows you to pay off your contract in full and own the item earlier for a fee. This option allows you to save on rental fees. Please check your rental agreement for specific details.

display of wood and cloth chairs in store

Key Components of Rent-to-Own Furniture

  • New, name-brand furniture: Customers with bad credit may be able to access quality, durable furniture instead of making do with cheap or secondhand pieces.
  • Testing high-quality furniture: You can try various types of bespoke furniture until you get the perfect match for your home.
  • Flexibility: You can work with your lease-to-own provider and merchant store when needing to return an item. Always review your contract, and contact your lease-to-own provider or merchant store for specific information on how to do this.

 

Popularity of Rent-to-Own in the New Furniture Industry

In the wake of a raging pandemic, massive job cuts pushed Americans deeper into debt and lowered their credit scores. In 2020, 21% of Americans had their credit card applications rejected due to low credit scores. Experian puts the average credit score in the country at 711, but about 34% of the population has subprime credit scores.

Rent-to-own furniture stores step in to provide options for consumers. They broaden their choices to help qualify their customers.

The RTO industry has grown to thousands of stores across the country, serving millions of customers. Due to increasing demand, the industry has experienced tremendous growth in the last few years.

What Kind of Furniture Can You Rent-to-Own?

Rent-to-own solutions can put many furniture resources at your fingertips if approved, so you have an abundance of options. From living room sets to sofas and loveseats, recliners and bedroom sets, dining room sets, tv stands, nightstands, rugs, beds, and king-sized mattresses, you can have it all.

tv stand with flat screen in front of a brick wall

Popular Rent-to-Own Furniture Items

If approved for a rent-to-own option from American First Finance, you’ll gain access to our network of stores to help you find the furniture you need. You can also shop to find furniture for specific rooms such as your living room, bedroom, kitchen, or even office.

*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.

Popular RTO Products

Here’s a look at some common furniture types that are available through a rent-to-own lease option.

  • Living Room Furniture
  • Bedroom Sets
  • Home Office Furniture
  • Dining Room
  • Home Décor

Living Room Furniture

Living room furniture is expensive, central to everyday life, and comprises many different pieces. A beautiful and functional living room gives your house a homely feel.

Notable Living Room Furniture:

  • Cross-sectional sofas: Beautiful, chic, and classy, these sofas add a touch of class and comfort to your living room.
  • TV console: These wooden pieces come with additional storage space and keep your large flatscreen TV safe.
  • Recliners: These pieces are great for relaxing when watching TV or catching up on your reading.

Hooker, Lexington, Bernhardt, Liberty, Universal, and Coaster are some of the top brands in the living room furniture sector. They carry a broad range of furniture to suit different budgets.

Notable Stores for Living Room Furniture

  1. Lexington
  2. Hooker
  3. Bernhardt
  4. Liberty
  5. Universal
  6. Coaster
  7. Simplicity Sofas
  8. Lulu and Georgia
  9. Floyd
  10. Article
Couple Comparing And Shopping

Bedroom Furniture

The bedroom is where the magic happens. A large bed and an equally comfortable mattress afford you quality sleep to wake up refreshed and rejuvenated. Quality bedroom furniture is durable but expensive and critical in everyday life.

  • Mattress: A quality mattress enables you to sleep through the night while protecting you from back and neck pains.
  • King size bed: A large bed gives your bedroom and classy feel while allowing couples sufficient sleeping space.
  • Dresser: A dresser is a critical part of grooming and getting ready to face the day.

Maiden Home, Stickley, Eastvold furniture, The Joinery, and Lexington are notable brands providing quality bedroom furniture.

Notable Bedroom Furniture Stores

  1. Maiden Home
  2. Stickley
  3. Lexington
  4. Eastvold Furniture
  5. The Joinery
  6. Bernhardt
  7. Stickley
  8. Baker
  9. Crate and Barrel
  10. Coaster
modern bedroom with white comforter and furniture

Home Office

Home offices are becoming a staple as the job market tends towards telecommuting. Ergonomic office furniture is durable and expensive but vital to your health and productivity.

Some of the pieces you need for a home office include:

  • Office chair: A quality office chair enables you to maintain proper posture and prevent numerous health issues such as carpal tunnels and back pain.
  • Office desk: A proper office desk matches your desk to improve your posture and bolster your productivity.
  • Standing desk: A standing desk allows you to switch between standing and sitting to improve productivity and safeguard your health and wellbeing.

Herman Miller, Steelcase, Global Group, La-Z-Boy, Haworth, and Knoll are some of the top makers of home office furniture.

Notable Home Office Furniture Stores

  1. Herman Miller
  2. Steelcase
  3. Global Group
  4. La-Z-Boy
  5. Haworth
  6. Knoll
  7. OFS Brand
  8. CF Group
  9. Lozier Corp
  10. Teknion Corp
Couple Looking Over Furniture Price

Rent-to-Own Furniture Options for 2022

Rent-to-own stores cater to a broad audience of customers and offer a variety of lease options. The best lease-to-own furniture stores have in-house options for qualified customers. AFF provides RTO payment options and a simple application process that helps them find merchant stores near them. The furniture stores listed below may not all have merchant relationships with AFF.

Notable Furniture Stores

  1. American Freight
  2. Conn’s Home Plus
  3. Target
  4. Nectar
  5. Mattress Firm
  6. Wayfair
  7. Big Lots
  8. Home Furnishing Deport
  9. Cohen’s Furniture
  10. Sleep Cheap
Two Men Shopping For Furniture

Applying for Rent-to-Own Furniture Near You

Banks and credit companies often consider people with low or no credit as high-risk borrowers. People with bad credit are often ineligible for loans and other credit facilities. Bad credit typically refers to having a credit score lower than 580, delinquency on bills, having no credit history, or having filed for bankruptcy.

When you have bad credit, you may not be able to access loans and other credit facilities, which makes it difficult for you to buy large items, such as furniture. As a result, consumers with bad credit are often forced to compromise and opt for cheap or secondhand furniture.

Rent-to-own furniture agreements remove this constraint, allowing for better furniture options to become available.

American First Finance is a leading payment solutions company available to those that don’t have access to the traditional financing options. We help borrowers apply for products ranging from home appliances to furniture at affordable payments.

AFF is attuned to the needs of our customers and incorporates a brief application process. We may check your credit score during the application process, but a low score won’t necessarily disqualify you.

home office with large mac desktop computer

Rent-to-Own Furniture Summary

Rent-to-own furniture is a lifeline that enables people with bad credit to furnish their homes with quality furniture quickly and affordably if approved.

A simple online application is all it takes to join this affordable payment option when furnishing your home.

American First Finance is one of the leading service providers and works with a vast network of RTO stores across the country. With an AFF approval, you can get access to lease the furniture you need to turn your house into the home you always wanted.

Apply for Rent-to-Own Furniture Online

American First Finance has a vast network of merchants across the country to give you innumerable options when choosing rent-to-own furniture to furnish your home. Search our merchant network to see thousands of local stores* across the US. Rent-to-own isn’t available at every store, but the available option will be clearly stated when you apply.

We’ve done our best to simplify the application process when applying for furniture on a rent-to-own basis. You can submit your application right here on our website. Use the merchant locator tool to find a merchant in your location. The process takes only a few minutes, and you can sign a contract as soon as you’re approved for your brand new furniture.

Use our merchant tool* to find a merchant near you and fill in the application online. The application process takes only a few minutes, and you can sign a contract as soon as you’re approved.

*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.

Rent-to-Own Furniture FAQs

You might find the concept of rent-to-own furniture a tad confusing at first. Here’s a quick rundown of the most commonly asked questions to help you along.

 

Q: What Does Rent-to-Own Mean?

A: Rent-to-own is a flexible payment method that can allow 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 Furniture?

Where you’re able to shop generally depends on where you agree to a rent-to-own agreement.  If approved through AFF, some of our favorite places that have rent-to-own furniture include select American Freight and Conn’s locations. Find locations near you to get started.*

*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 Furniture?

A: You can apply for rent-to-own furniture options right here on our website. It is not guaranteed that all applicants will be approved, but having bad credit does not mean you will automatically 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 to get started.

 

Q: Where Can I Shop for Rent-to-Own Furniture?

A: Where you can use your payment solution to lease-to-own furniture will depend on the company you choose to sign a contract with.  American First Finance has hundreds of locations across the US for our customers to choose from.

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.