What are Rent-to-Own Trailers?
When you are considering options for purchasing a trailer, it can be tough to have low income, low or no credit, or just not have the time to go through the hassle of paying a huge down payment and applying to get a loan. And while renting a trailer can take care of many of these problems, there is still the unfortunate fact that you will never own the trailer you are paying for. Thankfully, there is an option that can help prospective trailer owners bypass the need for expensive down payments, credit checks, and loan applications: rent-to-own trailers.
A rent-to-own trailer works on a similar basis as a standard rental trailer, with one very important difference: after a certain period of time spent paying the rent on your trailer, as specified in a contract, the ownership of your rent-to-own trailer will be transferred to you.
Using this model, rent-to-own trailers offer you a handful of benefits over regular renting and buying:
- You will likely have a lower down payment.
- It is an option for people with low or no credit.
- At a certain point, you will own your trailer instead of simply paying a monthly payment until the trailer is returned.
- You can return your trailer at any point during the contract period.
- There is no need for a bank to be involved with your purchase.
If you are interested in learning more about rent-to-own trailers, we encourage you to give us a call. We strive to give you as many options as we can and to make the contract process as easy, accessible, and empowering as possible.
