Research Report Survey of Rent-to-Own Customers
James M. Lacko, Signe-Mary McKernan, Manoj Hastak
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This report presents the results of a nationwide survey of rent-to-own customers. The survey found that most rent-to-own merchandise is ultimately purchased by the customer, most customers are satisfied with their rent-to-own transactions, and most customers are treated well if they are late making a payment, although some customers are subject to possibly abusive collection practices. The report recommends that the total cost of purchasing merchandise through a rent-to-own transaction be disclosed on product labels that the consumer can see while shopping, in addition to disclosures in rental agreements and advertisements.
Research Areas Wealth and financial well-being
Tags Employment and income data