Rent to Own Sheds In NC have become a popular option for people looking for storage shed prices to store their equipment and supplies in North Carolina. With no credit check rent to own sheds and and low rent to own sheds payments, Rent to own programs can be a good fit for many people needing affordable storage shed payments. However, you need to know the details of rent to own sheds programs to decide if its right for you!
1. Rent To Own Shed Programs Are Regulated By North Carolina Law.
Rent to Own companies are not allowed to set the rules! The State of North Carolina sets the basic requirements for rent to own agreements. Rent-To-Own companies are required to disclose total contract costs, whether your renting to own a house or a storage shed! The details of the sheds on rent-to-own or sheds on lease-to-own agreements to the customer per the NC General Statues North Carolina has set guidelines so that the consumer is protected and made aware of the details of a rent to own agreement total contract cost!
2. Its A Flexible Agreement.
Rent to own is a flexible agreement with stipulations that if you go the full term of the rental contract 24-36-48 or even 60-month consecutive payments, the rental payments end and you take possession of the shed. If you want to buy the the unit early, there is usually an early purchase option for you to buy the rental unit at a discount of the remaining rental balance at any time. If you fail to pay one or two payments at any point before you take possession, the shed will be picked up and the contract terminated. If you no longer need the shed, a simple phone call to the rental company letting them know you don’t need the storage shed anymore usually terminates the rental agreement as well.
3. Sheds and Rent To Own | It’s Not A Loan!
Unlike a traditional loan where you have credit requirements, rent to own is more flexible. The owner of the shed (the rental company) retains full ownership until you either purchase the shed in full with an early purchase option, or make the full consecutive payments and take ownership. You must purchase the shed early or make the agreed amount of monthly payments to take ownership. If you stop paying at any time during the rental contract, the shed is picked up and returned to the rental company but it does not affect your credit, and your obligation is over. If you no longer need the shed its nice to be able to be free from a rent to own obligation, that’s not possible if you buy a shed on a credit card, buy a shed on a personal loan, or use a home improvement loan to buy a shed. Your credit score could be affected and debt collectors could be calling you for years, or a lien could be placed on your property.
4. You Will Pay More Than The Original Cash Price.
If your thinking of using a rent to own program for your custom storage shed be mindful to ask of the total contract cost of the rent-to-own sheds agreement! It will be higher than the original cash price of the shed itself. Don’t be fooled into thinking that there is not a cost to rent to own or that it will not affect the storage shed prices! I have heard clients say that they were told by a salesperson from one shed lot in their area that they would not pay more than the cash price of the shed on the rent to own agreement, that is simply not true! When you rent to own a shed in North Carolina, its a service and with all services, there is a cost. That cost above the original cash price of the shed depends on the rental company, the length of your rental agreement, and whether or not you decide to pay off the shed early with an early purchase option before the end of the consecutive payments.
5. Mini Storage Unit Vs Rent To Own Sheds!
There is a cost to rent-to-own sheds, but it may be a better deal for you than a forever mini storage unit! People can have spent thousands $$ on mini storage units over the years and had nothing to show for it. Then could have got a shed on a rent to own program and taken possession of the shed in the length of time they did a mini storage unit endless rent. With mini storage locations in NC, you never have a chance of owning the unit! Your payments won’t end till you figure out how to cancel a mini storage rental. Mini storage may be good for a very short term rental, due to mini storage move in specials, or for people in an apartment or condos that do not have the ability to put a shed in a backyard.
6. There Are Usually Early Purchase Options.
Some people are in a tough spot with cash flow and still need storage! For someone about to close on a house, they might not want to apply for credit based financing for a shed, but they need the storage for their things! You can rent to own for a few months without it affecting your credit, and then when your ready, purchase your rent to own shed at a discount off the remaining rental contract cost. Many people opt to learn how to purchase a rent-to-own shed early from the rental company when they have the available funds.
7. It Might Not Be For You!
When your ready to buy a storage shed on a rent to own contract, you may discover that you can buy a shed with your your savings, buy a shed with a home equity line of credit, or buy a shed with a personal loan. Perhaps you want to use a low-interest credit card offer to buy a shed. There may be other options available for you that you feel are a better fit. That is totally up to you, your financial situation and options you have available from your credit card company, bank or credit union on how to finance a shed.
If you are looking to pay cash for a shed, finance a shed, or rent to own a storage shed, and need help with understanding storage shed prices and rent-to-own sheds in North Carolina, Sheds By Design would love to be of assistance! Call 1-800-721-4095 to speak with someone who can help.