Typically, rent-to-own car dealers will allow you to visit the lot to pick out a car you like and then make a down payment. Once the car is in your hands you will make rental payments on the car and each payment will be applied to the purchase of the car. When you make the last payment, the car is yours. These programs are very flexible and can approve virtually all applicants.

Most rent to own car programs will require the following:

Proof of ID: A driver’s license and/or a social security card

Proof of Residence: A phone bill and or other utility bills and or hospital bill, bank statement, credit card bill or other mail with your name and address on it.

Proof of Income: Check stub or a letter from your employer if you get paid in cash. Some may also request three months of bank statements or other forms of proof of your income.

Down Payment:  Minimum down payment amounts will vary and depend on the individual program and the car desired.

Advantages of a Rent to Own Car Program

Below is an excerpt from Auto Credit Express’ Consumer Car Buying Advice Blog regarding the advantages of rent to own cars.

Advantages: The cars are usually less expensive. Many people prefer to make payments on a weekly basis. Rental payments are made face to face so you know your agent personally and they know you personally. Many rental companies don’t bother with a credit check before renting you a car. Read more…

>> Find a Rent to Own Car Dealer

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