What are the pros and cons of rent-to-own stores?

Rent-to-own (RTO) stores sell items such as furniture and appliances to consumers on an installment payment basis. RTO agreements usually consist of a rental contract that is renewed on a weekly or monthly basis. Usually, the terms are for 78 weeks or 18 months.

The customer has the option at the end of the rental period of whether to renew the lease or return the item. If the customer chooses to continue renewing the contract, payments continue to be made …