Rent to buy
- Thread starter dj_mason
- Start date
There are stores in the States that are "rent to own"stores where you pay a drastically inflated weekly rental fee to rent merchandise that at the end of XX term the merchandise becomes yours. Probably not the way to go. I would imagine your parents would have to be involved and in theory they could get much better financing than an RTO could offer and you could make payments to them...
Rent to own, you will end up paying about 2-3 times the regular price. If I were you I would avoid it, either get a normal loan, or just put away a little every month, and pay cash.
I agree with the above post.
Renting to own is a no win situation. You will be better off getting a short term loan from a family member. When I started way back when. I borrowed 2000.00 to get my first real DJ rig from my Aunt.
I was 15 at the time with a part time job at a local Pizza shop. I paid her back 100.00 a month. She only made me payback 1000.00 in total and she told me that the remaining 1000.00 was her gift to me.
I miss her!
Renting to own is a no win situation. You will be better off getting a short term loan from a family member. When I started way back when. I borrowed 2000.00 to get my first real DJ rig from my Aunt.
I was 15 at the time with a part time job at a local Pizza shop. I paid her back 100.00 a month. She only made me payback 1000.00 in total and she told me that the remaining 1000.00 was her gift to me.
I miss her!
If American Musical will ship to Canada, they have an amazing Pay as you Play plan. At American Musical, anything under $1000 is divided into 3 payments. They also ship the product right away, not like Layaway where you dont get the product until its paid off. If you buy anything over $1000 its divided into 4 payments. Check their website out.
You just need a Credit Card ( or your parents can do it for you) and the payments are taken out every month. Just make sure the Card has enough to cover the full purchase amount. This is the closest to Rent To Own but without the interest fees.
You just need a Credit Card ( or your parents can do it for you) and the payments are taken out every month. Just make sure the Card has enough to cover the full purchase amount. This is the closest to Rent To Own but without the interest fees.
Agreed with these folks 100%. Rent to own is nothing but a legal loan shark money racket that preys upon poor people who can't get a line of credit. From what Ed tells me, New Jersey has outlawed this practice.
Some rent to own contracts have balloon payments at the end of the schedule. The balloon payment can be double or triple your regular monthly payment. If ya can't manage the balloon payment on time, the repo man is a-knockin' at yer door. They've all got unique ways of shafting yas.
In the meantime, you've already paid for the merchandise twice over and you've got nothing to show for it. And they will report it to the credit agencies as a bad debt, trust me on this.
Some rent to own contracts have balloon payments at the end of the schedule. The balloon payment can be double or triple your regular monthly payment. If ya can't manage the balloon payment on time, the repo man is a-knockin' at yer door. They've all got unique ways of shafting yas.
In the meantime, you've already paid for the merchandise twice over and you've got nothing to show for it. And they will report it to the credit agencies as a bad debt, trust me on this.
Mason check with Long and McQuade (Musicstop). They recently changed thier credit policies and offer in store financing now with a very easy credit check. It's a very good option to rent to own.
Come to thinkof it I don't know anywhere that rents to own pro gear around our neck of the woods
Come to thinkof it I don't know anywhere that rents to own pro gear around our neck of the woods
Rent gear for long term at Long and McQuade and you get a great break. Be wise to the gear you choose. Mackie subs are cheap. Yorkvilles are as well especially if you rent them for the month rather than per gig. I did it succesfully for the past 3 yrs and now finally I have my dream system but got to sample alll the different choices they had to offer. Good luck. Charge accordingly for your gigs and it costs you nothing.
We have a long and Mcquaid in good ol PEI now...So let me get this straight
1. Rent Sound long term
2. Buy some basic lights
3. DJ until your making enough money to pay it all off
1. Rent Sound long term
2. Buy some basic lights
3. DJ until your making enough money to pay it all off
You may only rent it but check first if they will do rent to own. All I did was rent it for a month or something. Its usually one time or for a couple months. The longer rental is cheaper than one event at a time. Not sure if they will work a deal to pay them as you go. Seems I heard one customer setting up something of that nature.
L&M is really easy to work with and they offer instore credit now too so it's more based on reputation than credit check