Unlike pay day loan outlets or pawnshops, rent-to-own stores usually do not offer money loans; alternatively, they allow clients to acquire products on credit. The consumer gets the itemвЂ”typically durable items such as for example electronics, furniture, or appliancesвЂ”for use that is immediate among the 8,000 rent-to-own stores across the nation (Czerwonko 2012). The expense of buying a product from the rent-to-own store on credit is significantly more than the price of comparable items bought directly. The implied APR differs by good and also by shop, but prices happen predicted become as little as 57 per cent (Czerwonko 2012) so when high as 230 % (Zikmund-Fisher and Parker 1999). Like pawnshop loans, rent-to-own loans are guaranteed: if a client misses a payment, the financial institution has got the directly to repossess the bought item.