Rent-to-Own vs. Paying in Full: Which Is Right for You?

Two honest paths to owning a building from us, and neither is "better" - it depends on your situation. They work differently and cost different amounts in total, so it helps to know how each one works before you choose.

Rent-to-own

Rent-to-own is a rental-purchase agreement, not a loan. There is no credit check, and you start with a small deposit. You rent the building one month at a time, and it becomes yours once you have made all of the payments for the contract length you chose.

Until then the building belongs to the rental company. It stays at your delivery address, you take care of it, and you keep it insured. Payments are due on the 5th of each month, with sales tax added, and late fees apply if one is late.

Because you pay over time, the total of the monthly payments is more than the cash price, and sales tax is added to each payment. Our sizes and prices show the monthly payment for each term: multiply it by the number of months to see the total. Your agreement lists the cash price and the total cost to own side by side.

You can end it early in two ways:

• Return the building. At the end of any month you can return the building in good repair, along with anything past due, without a penalty.
• Buy it early. In the first 90 days you pay the cash price minus everything you have paid so far. After that you pay the cash price minus a share of what you have paid (60% on 24- and 36-month agreements, 50% on 48 months, 45% on 60 months). Sales tax is added, and you need to be current on your payments.

The rental company owns the building until your last payment, so if payments stop the building is repossessed. Late fees apply to a late payment. If you fall behind, talk to us first: your agreement explains how to reinstate it.

This is the better fit if you would rather not pay a large amount up front, or you may not need the building for the long term, since you can return it at the end of any month.

Paying in full

You pay the cash price and the building is yours from the day it is delivered, with no monthly payments and no agreement to manage. It costs less in total than rent-to-own. This is the better fit if you can pay up front and already know it is a long-term purchase.

Either way it is the same building at the same cash price. What differs is the total you pay and when you own it. Build your own to see real numbers for both, or read more on how rent-to-own works.