Does Rent-to-Own Save Money?

Just as leasing a car instead of buying one isn’t very cost effective, renting furniture or appliances can cost you more in the long run. Even though you get the instant gratification of a new chair or television, you will end up paying at least twice as much for it when you have finished making all the payments. If for some reason you miss a payment, you will most likely be charged a penalty.

A better choice would be to set aside money each month and save for the item you want. Or, buy used from Craigslist or other local sources.