Being able to do laundry at home can be incredibly freeing. Instead of having to pack up all of your clothes and head to the laundromat once a week, you can simply wash your clothes whenever you want without ever having to set foot outside your front door.
Unfortunately, washers and dryers can be quite expensive. If you are like a lot of people, you may not have enough money set aside to purchase them outright. If you don’t have a credit card or have problems with your credit that prevent you from getting financing, you may want to look into getting a rent to own washer dryer combo instead.
Rent-to-own companies specialize in helping people get the appliances they need without having to spend a lot of money right out of the gate. In essence, when you sign a rent-to-own agreement, you agree to pay a specific amount of money toward the purchase of the appliance on a weekly, biweekly, or monthly basis.
Once the agreement is in place, you can start using your washer and dryer right away. A portion of each payment that you submit will go toward the purchase price of the washer and dryer. Over time, you will eventually pay off the appliances completely, allowing you to own them outright.
The amount of time that it takes to pay off the washer/dryer combo depends on the terms of your agreement. Make sure that you read the fine print carefully so that you know exactly what you are agreeing to. The contract that you sign should clearly state how much money you have to pay each month, when your payments are due, and how long it will take until the appliances are fully paid off. You should make sure that you have a clear understanding of your responsibilities before you sign your name on the dotted line.
If you happen to fall behind on your payments or can’t make a payment, you can simply return the washer and dryer to the store without doing any damage to your credit report. This is in sharp contrast to what happens if you default on a traditional credit card payment.
If you charge the washer and dryer to your credit card and can’t afford to make your payments, your credit card company will put a negative mark on your credit report that can severely damage your credit score for many years to come. Instead of risking damage to your credit, it makes more sense to go with a rent-to-own agreement. Of course, you should make every effort to make your payments on time. If you can’t, however, it is good to know that it won’t negatively impact your credit.
Getting a rent to own washer dryer combo is a good option for anyone who may have credit challenges or who doesn’t have enough money set aside to buy these appliances outright. A rent-to-own agreement can make it easy and affordable to buy the appliances that you need.