What is Rent to Own?
If you want to buy a car on credit but don’t have a good credit score to show, you may face a lot of difficulties in purchasing one. In such a situation, you should consider rent to own cars. Sansone Auto Mall in Neptune, NJ, near the cities of Asbury Park, Freehold, and Belmar, is one of the leading rent to own dealerships in New Jersey. Visit us if you want to know the rent-to-own car options that we have. For now, read on to know all about how rent-to-own functions.
Rent-to-own: How does it work?
Getting a car on a rent-to-own basis is easy. All you have to do is furnish your proof of identity and residence, and an official document that states your current income. Unlike other credit purchases, rent-to-own does not involve checking for credit scores, so even if your credit score isn’t the best, you can get a rent-to-own car.
The main difference between rent-to-own and other credit purchase options is how buyers are required to pay. For conventional credit purchases, buyers have to make monthly payments, but for rent-to-own purchases, buyers are required to pay a fixed amount every week or every fortnight.
Rent-to-own is also like renting an apartment, considering that you have to incur down payment expenses. Rent-to-own purchases don’t feature interest costs, but failure to make timely payments leads to late payment charges.
What are the advantages of rent-to-own car purchases?
Apart from the fact that there are no credit checks for rent-to-own car deals, there is also the advantage of your credit score not being affected, even if you are late in making your weekly or fortnightly payments. However, this varies from one dealership to the other, so if you want to know the terms and conditions we offer at Sansone Jr’s 66 Automall, visit us and talk to us in person.
Even though rent-to-own purchases typically involve paying much more for a car than you would have to if you bought it at once, it has numerous advantages for those whose credit scores are not the best. For more information on Sansone Jr’s 66 Automall’s rent-to-own options, visit us at our dealership in Neptune, NJ, which is close to the cities of Freehold, Belmar, and Asbury Park.