Lease/Rent-To-Own Furniture – Dangerous Debts

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Buying Furniture on Lease/Rent-to-Own – Know the Cost

For people with poor credit who feel the need to buy furniture – but do not want to save for their purchase – there are a number of lease/rent-to-own furniture stores in the Toronto area that are willing to do business. Normally, they do not require credit checks or down payments, although they usually want some proof of income.

If you agree to enter into a lease/rent-to-own agreement with them – they will take great pains to explain to you how much you will be paying over the length of the agreement. Unfortunately, even these careful explanations of how much it is going to cost – do not deter many people.

In an effort to show how much more these eager buyers are paying by using comparisons.

We did a small, online investigation:

We found a sofa/love seat combination available at a Toronto lease/rent-to-own store for weekly payments of $15 for 156 weeks (3 years) which works out to $2340 + Taxes.

Doing a quick check online we found the same sofa/love seat combination available online in Ontario locations for a purchase price of $1079 + Taxes.

Both of these companies offer free shipping, warrantees and guarantees.

Lease/Rent-to-own Sofa/Love Seat $2340 + 304.20 (Taxes) = $2644.20

Online Purchase Sofa/Love Seat $1079 + 140.27 (Taxes) = $1219.27

So – how much extra would our lease/rent-to-own customer pay in this case?

an Extra $1,424.93 for the same sofa/love seat combination!

They would be paying:

132% interest over 3 years

44% interest per year

Another thing to consider – in our search we found one of the lease/rent-to-own companies selling what they claim to be a new, exact same sofa/love seat combination for $899.00 + 116.78 (Tax) = $1015.78 – in an online classified ad.

How much extra would our lease/rent-to-own customer pay in this case?

an Extra $1628.42 for the same sofa/love seat combination!

They would be paying:

181% interest over 3 years

60% interest per year

And if all of that is not enough – until that last 156th payment is made – the lease/rent-to-own company still owns the sofa and love seat.

So before you sign on the dotted line – please, think about it.

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Great experience i was in financial trouble and someone of my friends recommended this company. Cori is a wonderful and welcoming person she did a very good job and came up with a smooth and flexible monthly payment after the reduction. i highly recommend this company. Thank you David sklar and special thanks to Cori.❤️🙏🏻
Jasmine Joseph
22:08 13 Jan 23
Met up with Mr. Jason Sklar to discuss more in person, very thorough and clear. He is very kind and thoughtful, I will be referring anyone with the same situation to David Sklar & Associates.
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02:33 29 Dec 22
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kevin mcweeney
01:13 22 Dec 22
The team at David Sklar & Associates is fantastic.I worked with Jerry whom not only made - what seemed like intimidating process to initiate at first - comfortable.He made everything transparent and took the time to explain the process every step of the way.He was kind, attentive, and professional. Everything was made straightforward and stress free and we found a solution together that worked.Thanks to Jerry and the team.
Jordie Angiolillo
18:22 21 Dec 22
From day one till the end which is today😁 DavidSklar gave me a 5star service and treatment. And I will 100% recommend him and his Associates. This is the best Christmas present ever! Thank you David! More business to come! Merry Christmas and a Happy New Year!!!
barbee diaz
16:37 16 Dec 22
I FOUND DAVID SKLAR & ASSOCIATES BY GOOGLING "BANKRUPTCY" (EARLY NOV. 2021). ON NOV.4, 2021 I HAD A MEETING WITH CORI NARON AT HER OFFICE AT ST CLAIR ANDBATHURST. HER POSITIVE APPROACH TURNED ASTRESSFUL SITUATION INTO A STEP BY STEP UNDERSTANDABLE PROCESSON SEPT. 23, 2022 I OBTAINED MY AUTOMATICDISCHARGE FROM BANKRUPTCY AND MY CERTIFICATE OFDISCHARGE.THANK YOU CORIBRUCE BURGESS
bruce burg
21:35 02 Dec 22
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M J
18:41 01 Dec 22
Jerry was professional and was easy to deal with
Debbie Asquith
00:09 29 Nov 22
I was quite nervous and a little embarrassed that I needed financial advice. I met with Jerry Janiec and he was very helpful. He made me feel comfortable and explained everything in easy to understand terms so that I understood what my options were. I would recommend David Sklar & Associates for anyone in my position.
Melissa Blackburn
19:53 17 Nov 22
I was fortunate enough to be referred to David Sklar & Associates Inc. by a family member. Now in the10th month of a Consumer Proposal process, I am very impressed with the organization, professionalism and impeccable customer representation that I have experienced. To this effect, I amparticularly thankful to Jerry Janiec and Rhoda Lewis for their excellent work.
Suzanna Vaclavik
12:21 16 Nov 22
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