Auto Credit Express Special FinancingRent to Own Financing

Rent to Own
Car Financing

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Everyone Qualifies for Rent to Own Vehicles

If you're experiencing bad credit issues, you are not alone. Many Americans are going through the same thing right now, due to the economic recession, which has caused people to lose their jobs, homes, and vehicles. Fortunately, there are ways to obtain the things you need for everyday life such as a car - even if you haven't been able to get approved for a bad credit auto loan you may be able to easily drive away in a rent to own cars through one of a local car lot.

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What is a Rent to Own Car?

A rent to own car is a vehicle that is sold to consumers under the conventional agreement that they will make weekly or biweekly payments for a fixed term, and at the end, they'll own the car. Generally, these arrangements require no credit check, making it easy for anyone with poor credit to get into a car they need, as long as they have a steady income and a stable residence.

Typically, the process involved in getting a RTO vehicle is pretty simple. You fill out our online RTO Finance Request Form to see what price range can fit into your monthly budget. We will then set you up with one of the hundreds of dealers in our network that is near your home town. You will visit the dealership, and meet with a salesperson that will help you choose the vehicle that fits your needs. Finally, you will place a down payment on that car, truck, or SUV.

You can then drive the vehicle home and make your biweekly or weekly payments right at the dealership. Most RTO auto financing agreements take a minimum of 12 months and a maximum of 36 months to complete. Each payment you make during that time is applied to the balance of the vehicle. So, at the end of the term, after paying any leftover balance between the car purchase price and the amount you've paid during your loan, you will own the car.

What is the Difference between RTO and Leasing?

If you've ever financed or leased a car in the past, you may be wondering what the difference is between getting a rent to own vehicle and leasing a vehicle. There are a few major differences including:

  • Ownership. Payments on a leased car are not applied to a purchase at the end of the leasing term. The vehicle is just turned back over to the company.
  • Credit Checks. Leases typically require a good to excellent credit score. Whereas, rent to own autos usually don't require a credit check because you are not borrowing any money before beginning your weekly payments.
  • Down Payments. All rent to own car programs require a down payment, whether it is large or small, and many leases don't require money down at all.
  • Vehicle age. Whether you are leasing a car, truck, SUV, or minivan, it is generally a new vehicle. Rent to own cars are typically older used cars because the dealers are not affiliated with new car dealerships.
  • Car repairs. Because a leased vehicle is usually new, it comes with a warranty. Second hand vehicles don't usually come with warranties unless they're purchased separately, so you will be paying for repairs out of pocket for a RTO auto.
  • Incentives. Incentives are awarded to vehicle purchases by the manufacturer, so, when leasing a car you can take advantage of these deals. Rent to own vehicles don't come with this benefit.

As you can see, there are many differences between leasing a car and getting a rent to own car, but it's not all different. In fact, there a few similarities, such as they both come with fixed payments and the payment terms usually last between 2-3 years.

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Advantages of Rent to Own Autos

Suffering from bad credit can leave you feeling hopeless and stressed when looking for auto loans, but with a rent to own vehicle you don't have these worries. There are many benefits in our rent to own car programs to take advantage of when you have a low credit score.

  1. All of the cars on our rent-to-own car lots are cheaper than financing a vehicle from a traditional lender.
  2. You pay by the week at the dealership. This can provide you with the satisfaction of knowing that your payment wasn't lost in the mail or didn't go through over the internet. You are physically handed a receipt showing you made the payment on time.
  3. Lastly, but most importantly, there is no credit check involved. At one of our bad credit car dealerships, even those consumers in the worst of credit situations are able to get approved and can drive away in a car that day.
Disadvantages of Rent to Own Programs

Unfortunately, with all advantages must come disadvantages, and RTO programs are no different. Here are the minor downfalls of rent to own car lots:

  1. Because there is no credit check performed when applying for a rent to own auto loan, your payments may not be reported to the credit bureaus. This means that, even with a payoff, your credit score may not reflect it. Some RTO dealerships actually do make a practice of reporting timely payments to the three main bureaus, and these dealers are worth seeking out.
  2. Making payments in person can be a hassle if you don't live or work near the dealership.
  3. The vehicles sold on these lots are generally older used cars with no warranties.
  4. The terms are usually much shorter than on a traditional auto loan with bad credit. This can make the payments a little more expensive.

If after seriously weighing the pros and cons of rent to own cars you decide this is the best option for you, you can apply online now. The RTO dealerships we work with are accredited and legitimate businesses, and are located throughout the United States and Canada.

The vehicles sold on a rent to own car lot are typically inspected by in-house mechanics before being put out on the lots; since you are renting the vehicle the car lot want to ensure that it is in good repair. This should give you the peace of mind that you are getting a rent to own car that is reliable, well running, and affordable.

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  • The Ins and Outs of Rent to Own Cars
    There are some key differences between rent to own and traditional auto loan financing, and knowing the ins and outs of rent to own cars will help you decide if they're the right choice for you.


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