Rent To Own Is A Term Widely Used And Widely Misused
A lot of people are confused by the term "Rent To Own" the following is a simple explanation of what this means and what we have to offer.
Renting household appliances and other items is a great way for people who are struggling a bit financially to save the dollars they need to buy quality goods outright. In years gone by people had a couple of options to obtain the furniture and household appliances they needed.
Buy Cheap Or Borrow
One of those options was tobuy cheap and often very poor quality 2nd hand goods. The goods were often dirty, broken or needing repair but the client often had no other option. Most people have a sense of pride in their home and this pathway did nothing to give them that sense of pride.
The other option was to borrow money from Loan Sharks who acted outside the law. This was potentially worse if a client defaulted on their loan as there were no controls on how these Loan Sharks could go about reclaiming their goods or their money and it often included threats and/or violence.
In the early 2000’s the Government allowed clients to utilise their Centrepay Benefits to rent essential household goods and appliances which was a great system. However, like all new ideas, there were flaws and over the years these have been ironed out and the system greatly improved.
One of the major changes, involved the fact that in the early days of renting goods, there were no real controls and terms like “Rent to Own,” Rent to Buy,” Rent to Keep” and other such terms were commonly used and like the term “Esky” they became a commonly used generic term.
The problem now is that the Government has legislated that such terms are illegal because they indicate that a client will own the goods at the end of the rental term and therefore using those terms is just a sneaky way of selling goods. This means that rental companies cannot sayto a client things like “Yes, this is a Rent to Own contract and yes at the end of this you will own the goods.” That is completely wrong and totally illegal.
The government rules state that a client renting goods does not have the right or obligation to purchase the items and the supplier cannot imply that they will own them at the end or this becomes a sales by installment agreement which is controlled by a whole other set of rules and it’s much tougher to allow clients to use this.
What Is Legal?
What is legal is a conversation along the lines of, after establishing a client cannot pay up front, to offer a rental contract where traditionally at the end of the contract a client can make an offer to purchase the goods and traditionally the value of this is minimal, often $1.00 and sometimes the goods are gifted to the client.
What Can You Rent?
Now that you understand how "Rent To Own" works in the marketplace, take a look at what we have to offer.
This includes items such as Phones, Laptops, Televisions, New Furniture and Appliances. For more information read on or click the button below.
These include paying via Centrepay or as a Direct Debit Payment Agreement.
Centrepay is a voluntary bill-paying service that is free for Centrelink customers. Use Centrepay to arrange regular Deductions from your Centrelink payment. You can start or change a Deduction at any time. The quickest way to do it is through Centrelink.
Direct Debit payments are made direct from your bank account. This is an option for people who are good at managing their cash flow.
Why Choose To Rent Goods Via Your Centrepay Or As Direct Debit Payments?
Either of these may be an option for you to access quality goods with affordable weekly or fortnightly payments.
*If you choose to use Centrepay, once this is set up, payments are automatically paid by Centrepay which is simple and requires no effort on your behalf.
*If you choose Direct Debits then you need to manage your money to ensure sufficient is available weekly or fortnightly to meet the payment deduction.
Our company is called EasyPaymentOptions and some examples of what we supply are below ....
Intro upto goods
ELECTRONICS - Mobile Phone, Laptops & Computers, Tablets, & TV's including Big Screens
Rental Goods supplied by our company have a default rental period of 24 months. You are welcome to choose a shorter rental term. You are welcome to discuss this option during the application process with our friendly staff
EasyPaymentOptions is proud to have helped over 13,000+ clients since October 2003
We treat each and every person with dignity, respect, integrity & complete honesty. Because we choose to talk to you rather than have a computer make decisions about your life, the process can take a little longer but that is why we can say YES to more clients more often.
A Question that is often asked is "Do I Own the Goods at the End of the Rental Term"
This is a great question and we are pleased to say that there is an "option" for you to do this, it is your choice ...
At the end of the rental term, you can make an offer to buy the goods. If you wish to do this, we can advise an acceptable purchase price.
Clients are also welcome to getPre-Approvedso they can have the fun of shopping around for the items they need. To get Pre-Approvedsimply click the Click Here link you can see below to tell us what items are of interest. We will be in touch to help you go forward with your application
Most goods offered via our Online Store are supplied by Australia's major retailers: This means that our clients know the companies they are dealing with are:
National companies ensuring your goods are available anywhere in the Australia where these stores are found
We can offer you a huge product range knowing they are backed by Australia's leading companies
Because they are National Companies, warranties will be dealt with in a professional and timely manner
Tell us what you are looking for by clicking on the link below and we will be in touch to help you go further