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- ▼ February (23)
A word from our Sponsor
As interest rates and inflation start to creep up, more consumers are starting to weigh the benefits of owning versus renting. When interest rates on credit cards were in the low single digits, it typically made sense to go with a purchase for many shoppers. However, as those rates increase and especially as they increase for the much differentiated realms of credit customers renting to own options make more sense.
There is an added dimension when moves are considered. Many people are moving more often with the real estate boom. Moves are hard on furniture and renting to own makes more sense for habitual relocators that back up and move with their company every couple of years. Why buy something that will get damaged during a move every two years when you can rent and start fresh in two years. This example is being partly fueled by consumers that have gained similar experience in car leases. They are more savvy about the right times an the wrong times to lease.
Our sponsor Colortyme Rent to Own is a good example of a rent to own company that is capitalizing on changes in dynamics in the economy and in consumers lease knowledge. Plus they are moving the rent to own model and leveraging it through their online presence making it possible to establish a national brand that does not have some of the historical perception baggage that has troubled their competitors. They are growing and expanding out more fueled by changes in these demographics and their applied applications of technology.