Rent-to-own options for sheds can offer several benefits to individuals who are looking for additional storage space but may not have the immediate funds to purchase a shed outright. Here are some advantages of rent-to-own agreements for sheds:
1. Affordability: Rent-to-own allows you to spread the cost of the shed over a period of time, making it more financially manageable. Instead of paying the full purchase price upfront, you make regular rental payments, which are often lower than a self-storage facility.
2. No large upfront payment: With traditional shed purchasing, you typically need to pay a significant amount upfront. Rent-to-own eliminates the need for a large down payment, making it easier for those on a tight budget or who prefer not to tie up their available cash.
3. Flexibility: Rent-to-own agreements usually provide flexibility in terms of the duration of the rental period. You can choose a rental term that works best for you. This flexibility allows you to customize the rental period to fit your needs and financial situation.
4. No credit check: Rent-to-own sheds often do not require a credit check, which can be beneficial for individuals with less-than-perfect credit or those who have difficulty securing traditional financing options. It’s also extremely advantageous for those who are saving their credit for larger purchases, such as a vehicle or a house. Not performing a credit check allows more people to access the storage space they need without the barriers of a credit evaluation.
5. Early pay-off: If you decide to pay off the shed early, you are never obligated to keep making monthly payments. Simply request your EPO amount (early pay-off option). Once this amount is paid, your contract ends immediately and you acquire full ownership of the building! (Pro-Tip: Most customers pay off their shed after they get their tax refund!
6. Ownership at the end: One of the significant advantages of rent-to-own is that it offers you the opportunity to eventually own the shed. As you make regular rental payments, a portion of each payment goes towards the purchase price. Once you complete all the payments as per the agreement, ownership of the shed is transferred to you.
Whether you’re considering rent-to-own or traditional financing, the professionals at Hometown Sheds are happy to provide you with expert advice, service and top quality sheds and buildings. Call us today to see how easy owning a new shed can be!
