Auto by Rent transaction involves an 18 to 30 months rental
agreement with the final payment being the purchase price.
Rapidly expanding Rent to own car
Auto by Rent, Inc. will open it's fourth Missouri location
during the third quarter of this year. The new Springfield
location will also serve as the company headquarters. The
company's third location was opened in may, 2006 (see
Rick Plumlee, Controller for Auto by Rent, explains that
consumers desire for the pride associated with vehicle ownership
does not decrease with income or credit rating. “We are proud to
make vehicle ownership possible,” he said.
A typical Auto by Rent transaction involves an 18 to 30 months
rental agreement with the final payment being the purchase
By utilizing a rent to own transaction, Auto by Rent has set
itself apart from the traditional buy-here pay-here dealership
by offering a 0% interest auto loan rather than an 18%-25% rate
found at buy-here pay-here dealers.
Plumlee said that when comparing the benefits of the rent to own
autos to buy-here pay here dealers or traditional loan programs
for people with bruised credit, the value associated with rent
to own auto dealers cannot be ignored.
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