A typical 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 dealership 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 story).

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 price.

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.