Skip to content
 

Rent-to-Own ... and Pay More

Lower weekly payments don't pay off in the long run

Blue vintage chaise lounge sofa - rent to own is a bad deal

Photo by Alamy

Save up to buy the piece of furniture you want — avoid renting.

Need a sofa? Think twice about "rent-to-own" offers. Consumer Reports determined that after you make the required rental payments, you can end up paying two to three times the purchase price. For instance, a washing machine and dryer retailing for $966 would cost nearly $2,699 after 135 weekly payments. Miss a payment and you could lose what you've invested. However hard it may be, it's better to save enough to buy the sofa.

You may also like: Best deals for winter shopping. >>

Joan Rattner Heilman writes about health and consumer issues.

Note: We are currently in the process of replacing our commenting service, so it may take a few days for previous comments to appear. Login or register on AARP.org to join the conversation.