Rent-to-own trailers are not purchased outright; instead, they are leased to buyers. The rent-to-own system uses a special system of payments that allows the buyer to pay extra on the trailer, which in turn can become a down payment for the unit if they do wish to purchase it. However, if the buyer fails to purchase the trailer, the money which has been accumulated stays with the seller.
Rent-to-own has been used as an easier selling format in order to help people both purchase and sell existing homes. The process involves using a lease program, which can range from one to three years. Use the following instructions in order to purchase a rent-to-own motor home.
- Negotiate the price
- Continue to make the payments
- Purchase the motor home
From this program, the buyers and sellers negotiate on the price of the trailer, along with the price of the option the buyer is willing to pay. The option refers to the extra cash a buyer is willing to pay on top of the already established rental rate. This option will then accumulate over the leasing period, resulting in a large sum of money that can be used as a down payment for the motor home.
Make the payments for the full term of the lease.
Once the lease is over, purchase the motor home using the money accumulated from the option as a down payment. Then proceed to purchase the home.
It should also be noted, if the buyer refuses to purchase the motor home, the money accumulated throughout that time will then belong to the seller.