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Glossary
It's Your Paycheck Lesson 9

It always sounds so appealing — rent-to-own. You get it now — you don't have to wait — and you pay as you go. What you may not know is that rent-to-own involves a contract. In this lesson you will review the elements of a contract. You will learn about the characteristics of rent-to-own contracts and compare the cost to those contracts with the outright purchase of goods.

When you have finished this lesson you should be able to:

  • Define contract.
  • Explain the elements of a contract.
  • Evaluate the terms and costs of a rent-to-own contract.