How to Rent to Own Jewelry

Video Transcript

"Hi, I'm Judy Carrier with Jewels by Park Lane and I'm going to tell you how to rent to own jewelry. First of all you might wonder, why would you do that. Well, it could be you want something that you just can't afford right now, but if you could put a small amount down, you can pay it off in the future. There are quite a few companies that will allow you to do this, in fact they specialize in it. One of the easiest ways of finding out is going online and also you'd check the local newspapers, call your local jewelry stores. Many people will sell you a piece or let you rent it for now, with an option to buy. The one thing you want to do is deal with a very reputable firm, someone whose been in business a while, has a, in the same location, and has a phone number where you can call and talk to a real, live person, have your questions answered. You want to make sure that the pieces that you're going to rent, really are what they are claiming to be, you know, is the stone genuine, are the metals what they say they are, is it platinum, is it gold. You know, check that out and of course they should be stamped, you know, as to whether they are and they should be able to offer some certificate of authenticity. Also, when you're talking to them about rent to own, figure out the amount of, actually what it's going to cost you on a regular basis. Find out how many payments you'll make before it becomes yours, and then, if you've done any research you'll have an idea what that piece is worth and then decide whether it's worth it to you, to spend a little extra by getting it this way. Again, check the firm, ask lots of questions, and if it's very expensive have an appraiser check it out for you, and of course, if it's expensive make sure it's insured, because when you're renting something, if you decide not to take it and it is returned to the company or if it's damaged anyway, you are responsible. And, so make sure when you do insure it, it has full replacement costs figured in. That's the easiest way of renting to own and that's the way you get some of the more expensive pieces, that you might not otherwise afford. I'm Judy Carrier with Jewels by Park Lane."