Articles

Clients in the News: Rent-to-Own Stores Help Valley Residents in Slow Economic Times

In Clients in the News on September 3, 2010 by PALO creative

June 5th, 2009 (BOARDMAN, OH) – Rent-to-own consumer goods, something that was once seen as a last resort for many Americans, is fast becoming a preferred option in an unstable economy – especially right here in Northeast Ohio.

“In this economy, consumers are avoiding large cash outlays and refraining from putting large purchases on their credit cards,” says Randy Lewis, of Eagle Rental Purchase. “Instead, a lot of people are being cautious and choosing to lease their furniture and other appliances rather than buying them outright.”

At Eagle Rental Purchase, consumers can lease everything from furniture and appliances, to computers and electronics. Consumers also have the choice of a variety of flexible payment options, including 120 days same as cash, weekly or monthly payments, and even discounts for customers purchasing in cash. Lewis says consumers are finding comfort in acquiring their goods from a rent-to-own establishment, mainly due to the short-term obligation, limited requirements for credit, and hassle-free service.

“If an Eagle Rental Purchase customer loses a job or faces other financial distress, they can suspend their lease-to-own contract until they get back on their feet,” Lewis says. “We’ll pick up the merchandise and give them credit for every penny they have spent when they are ready to resume their agreement.”

Like the National trend, there has also been a change in the type of customer Eagle Rental Purchase serves. Typically, rent-to-own customers came from lower-income households and had less than perfect credit. Now, according to Lewis, they are getting more customers who would not have considered a rent-to-own option in the past.

“We’ve been attracting a lot of customers who haven’t leased with us before” says Lewis. “Most of that has to do with the economy being so uncertain. People are either finding it difficult to obtain credit or they’re hesitant to part with cash right now. Either way, we have payments options and programs for just about everyone’s needs.”

The Rent-to-Own Industry
Rent-to-own stores have typically been known for charging consumers with less-than-perfect credit high prices in comparison to retail establishments, but companies such as Eagle Rental Purchase are now offering competitive cash prices and lower payment terms, as well as early pay-off options. This has allowed stores adopting these practices to become more competitive with retail while leaving their customers debt-free and not having a negative impact on their credit. Lowering cash prices is creating new customers and paving the way for these stores to fill an even broader consumer niche.

About Eagle Rental Purchase
Eagle Rental Purchase is a rent-to-own retail establishment that specializes in leasing home furniture, electronics, and appliances as well as select miscellaneous goods. Currently, Eagle Rental Purchase has locations in Cleveland, Ohio (North Randall) and Youngstown, Ohio (Boardman) – with plans for expansion in other Northeast Ohio locations. Although the company is relatively new, they offer their customers a combined fifty years of industry experience. Eagle was established by Joe Fischer and Randy Lewis – two former employees of Rainbow Rentals. For more information, please call 330-953-1523 or visit www.rentfromeagle.com.

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