Rent-to-own sucks and you should never, ever do it

Rent-to-own is a terrible deal for consumers and you should avoid it at all costsThere’s no disputing the appeal of buy now, pay later. I myself can attest to the temptation to get the latest and greatest without having to bother with figuring out where the money will come from.

Nowhere is that kind of thinking more dangerous than with rent-to-own. Usually rent-to-own outfits advertise nothing more than a weekly payment — pay us $20 per week and you can have rent this large and desirable item until you finally own it. A measly $20 a week? Sure!

The problem is, long-term wealth is often won or lost in small increments like that. Did we learn nothing from Superman 3? Even tiny fractions of a penny taken from us enough times amount to huge thefts.

And so it is with rent-to-own.

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