Financing Vs. Rent-To-Own

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Financing Vs. Rent-To-Own

At MDG, we want to give every customer the opportunity to finance a brand new, top of the line product, with a price they'll love and a payment plan that will fit their lifestyle. MDG gives everyone a chance to finance, even those who could before only be approved for renting a product. Pre-Qualify for up to $3200 Even If Your Credit Isn’t Perfect.

We understand that every customer is unique and is looking for the best option to suit their purchasing needs. In order to help you make a well informed purchasing decision, we want to outline some differences between Financing at MDG and typical Rent-to-own programs.

	Finance at MDG	Rent to Own
Interest Rate	Annual Interest Rates from 19.8% to 47.3%, depending on your credit assessment.	Interest rates of 100% and higher are often in effect. ConsumerReports.org Reports: "Consider the deal was for a $612 Toshiba laptop computer we found at one rent-to-own store. It was being offered at $38.99 a week for 48 weeks, for a total of $1,872, excluding sales tax and other charges. That's the same as buying the laptop at MSRP and financing it at an interest rate of 311 percent. You could buy three of the laptops outright for that $1,872."
Payment Amount	MDG offers low minimum payments, to suit all customer's needs.	Rent to Own monthly payments are generally double the low minimum payments financing offers. For example, a laptop of equal value at a rent-to-own store charges $78/month, versus $29/month at MDG.
Price	Very competitive with market pricing.	Relatively higher than market pricing.
Ownership	You own the product from Day 1.	The product does not belong to you as it is just a rental.
Product Condition	Brand new, top of the line product. Fully packaged and in-box.	New, used, refurbished or recycled product returned by the previous Rent-to-own customer.
Length of Contract	Financing with MDG is like an open end contract, so you can pay off your balance as quickly as you'd like, with no penalty.	Depending on your terms, you may be required to pay indefinitely, or pay a lump sum at the end of your lease in order to own the product.
Getting Approved	Getting approved at a bank for financing can be very difficult. Getting approved at MDG for financing is easy.	Getting approved for a Rent-to-own product is easy.
Building Credit	You can build your credit with MDG which will enable you to make future purchases.	Renting is not an extension of credit, therefore it does not help you build or improve your credit.
Which option makes more sense?