e know your time is valuable and we appreciate that you took the time to visit our site to learn more about the rent-to-own industry. On these pages, we hope you find it easy to locate the resources you need on the industry, its customers, the economic impact of rent-to-own—both nationally and on a state-by-state basis—and the current legislative status of rent-to-own in each state. We are urging co-sponsorship and successful passage of S. 1012 and H.R. 1767. For more information on the rent-to-own industry, please contact APRO via the link at the top right of the page or feel free to contact Richard May, APRO’s government relations representative, at 800/204-2776, ext. 104.
     The $6.8-billion rent-to-own industry is relatively new to the American economy. This unique transaction sprang up in the 1960s in response to a growing consumer need for acquiring the use of household products without incurring debt or jeopardizing the family’s credit. Rent-to-own customers come from all walks of life, desiring consumer durable goods in their homes without the long-term financial obligations associated with credit sales.
     What distinguishes rent-to-own from a retail credit sale is the term “rent.” There is no interest charged to consumers, no credit checks involved and customers can return the merchandise at any time for any reason at no penalty. This no-obligation, no-debt feature is the cornerstone of rent-to-own. It’s easy, it’s safe and it’s hassle-free as free replacement, repair and delivery are included.
     The industry is primarily composed of dealers who rent furniture, electronics, major appliances, computers and other products with an option—never an obligation—to buy. The rent-to-own transaction is one of the fastest-growing in today’s marketplace. While rent-to-own’s major product categories are furniture, appliances and electronics, cutting-edge industries from across the economic spectrum—including manufacturers of computers, musical instruments, portable buildings, wheels and tires, to name a few—are increasingly attracted to the rent-to-own transaction.
     There are approximately 8,500 rent-to-own stores in all 50 states. The industry serves 3 million customers (households) a year. Visit the Industry Overview page for more statistical information on rent-to-own .