The general tenets of the Rent to Own process involve renting an RV for a set period of time and then having the option to purchase the RV at the end of the rental period. All of the money you pay in rent is applied towards the final purchase price.Continue Reading
The specific details of a Rent to Own contract vary based on the individual requirements of the seller. For example, a seller may run a credit check on you before allowing you to choose an RV, whereas another may forgo that process and instead charge you a security deposit. The seller also has the ability to define unique conditions to the contract, such as only applying a portion of the money you pay each month to the final sale price. Be sure you understand the exact terms before signing a contract.
One of the advantages of a Rent to Own contract is the ability to spread out payments over a longer period of time, thus allowing you to purchase the RV without having to take out a loan. If you decide to speed up the purchasing time table, make sure that you don't have to pay any penalties for breaking the rental contract.Learn more about Car Makes & Models