To Rent-to-Own or Not to Rent-to-Own?


Students review the elements of a contract. They discuss the characteristics of rent-to-own contracts and compare the cost of those contracts with the outright purchase of goods.

Objectives

Students will

  • define contract and annual percentage rate (APR),
  • explain the elements of a contract,
  • evaluate the terms and costs of a rent-to-own contract, and
  • compare rent-to-own costs with outright purchases.

Time Required

60 minutes

Concepts

  • Annual percentage rate (APR)
  • Contract
  • Elements of a contract
  • Rent-to-own contract

Whiteboard (ActivInspire/flipchart)
PowerPoint (pptx)

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Categories Borrowing Money, Credit Tags , , , , , ,

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