It's hard not to get pumped up when Hulk Hogan comes on the screen and does his shtick. Add Troy Aikman and you have a celebrity endorsement dream team. Even so, customers need to be aware of the math behind the Rent-A-Center business plan.
What it is: Aimed at customers who need or want new furniture, appliances or electronics but don't have the cash to pay up front or the credit to buy from a traditional store, Rent-A-Center allows customers to participate in rent-to-own plans, paying low rates for their goods.
The bottom line: RAC's plan sounds great -- preapproved, no credit check, no growing interest, flexible payments, etc. -- but a close look at the payment terms may cause a bit of a shock. For instance, say you want to get the advertised 15.6-inch Asus laptop computer using the company's low weekly payments. At $19.99 per week for 65 weeks, you would pay a total of $1,299.35, but the same laptop could be purchased from numerous retailers for $400.
Hulk may be a former WWE superstar and Aikman may be a former MVP quarterback, but neither of these guys can decide whether RAC's terms are right for you. Before you do your best Hulk impression or start your touchdown celebration, check out the total cost of the merchandise you want and be sure the rent-to-own plan is the best option for you.