What is the Rent To Own Industry and Where is it Going?

The $6.8-billion rent to own industry-or RTO-is relatively new to the American economy. The unique rent-to-own transaction sprang up in the 1960s in response to a growing consumer need for acquiring the use of household products without incurring debt or jeopardizing the family's credit. Rent-to-own customers come from all walks of life, desiring consumer durable goods in their homes without the long-term financial obligations associated with credit sales.