Rent To Own
This has to be one of the most commonly asked questions when taking out a contract and rightfully so.
Does Essential offer a Rent to Own on appliances for rent?
Under the new credit laws, Rent to Own is a form of what used to be called hire purchase. What Essential Appliance Rentals offers is a consumer lease contract on our Rental Plus Program. All consumer leases are true rentals which means that the right to own the goods can not be part of the rental contract. That is the law set by the Government. We don't like it either but we follow the rules. However we are in business to help our clients and we are firmly committed to the idea that if you've done the right thing by us then we'll do the right thing by you. Practically that means we'll be open to considering any reasonable offer to own the rental appliance goods at the end of the rental contract.
You don't need to worry about being caught short at the end of the contract with Essential Appliance Rentals. We will send you out a letter 90 days before your consumer rental appliance lease is due to come to an end highlighting your options at the end of the contract.
One of the options is you could make an offer to purchase the product. In most cases we would be happy to accept a very nominal offer for you to purchase the item at the end of the contract. How nominal? Well why don't you try us out? Conditions do apply based on good conduct etc but assuming that everything else is in good order it's actually pretty straight forward. Here's a couple of helpful points to keep in mind:
i. We want you to have a fair crack at keeping the goods you've been hiring and there's no value to us in getting them back at the end of the contract
ii. We don't want to be beaten by competitors and at the moment Radio Rentals, the biggest rental provider, has a $1 buy option at the end of their contracts (which go for up to 4 years). Their program is a bit different (not least how long it goes for) but it's the final buy figure that we are looking to match or beat even when we're substantially cheaper overall. So if everything else is looking good then we're going to be smiling when you come to us with an end of contract buy out price match challenge
Remember we're good guys who want to help you out.
So we hope you understand that this is not a straight Rent to Own, we operate under strict guidelines and always operate in an ethical manner with high integrity. Our Rental Appliance contracts are consumer lease contracts so if we were going to have a name for it like Rent to Own then it would probably be something like Rent Before You Buy or Rent Then Offer To Buy.
Keep an eye out for consumer leasing companies advertising in ad spaces as having a Rent to Own, unfortunately they aren’t held accountable for this misleading form of advertising and you may unknowingly be applying for a contract that is not rent to own at all. The only way you will know is if you ask the question at the time of taking the contract application “will I own the appliance at the end of the contract?”
With Essential Appliance Rentals we don’t bait you in with false promises, we are very up front with our contracts being consumer lease agreements and we'll be open to your offer on the rental goods at the end of the rental lease.
So when you are taking out a contract make sure you aware of the difference between renting before you buy and a rent to own!
Now that you know the difference make sure you read your contract when you sign the paperwork so you understand what you are signing up for, not all companies operate with the same integrity as Essential Appliance Rentals so don’t take anything that was said on the phone or website as fact. Read the contract and make sure you understand what happens at the end of the contract.
If you are after a reputable company to do business with then you have come to right place. To check out all Essential Appliance Rentals Products and we have a great range of products for you to choose from as well.