1. Ownership Status: This is a rental-purchase agreement. You are renting this merchandise and do not acquire ownership rights until you have paid the total amount required or exercised your Early Purchase Option. Until all payments are completed, the lessor retains full title and ownership of the property.
2. Understanding Your Total Cost: Choosing a longer, deferred payment plan will increase the total cost of ownership. The total cost is determined by applying a 2.50x rental coefficient to the item’s standard retail price. Please review your payment schedule carefully to understand the total amount due over the life of the agreement.
3. Account Delinquency Policy: We understand that situations may change. If your account becomes past due, please contact us immediately to discuss your options. If your payment is not received within this 30-day window, your account will be considered in default. At that time, we will initiate recovery procedures, which may include the repossession of the merchandise and the assessment of applicable late fees as permitted by state law. If your account remains unpaid for 30 days past the due date, we may report your payment history, including late payments and defaults, to consumer credit reporting agencies, which may impact your credit score.
