Consumer Credit Regulation: 11.2.5 Auto Rent-to-Own
A number of cars, especially at used-car dealerships and buy-here, pay-here dealerships, are offered on a rent-to-own (RTO) basis, similar to a traditional appliance or electronics rent-to-own transaction.15 They are marketed to those who have poor credit or believe they cannot obtain reasonably priced credit elsewhere. The payments are typically very high relative to the value of the car.