How To Rent-to-Own a Metal Building
Metal buildings are a big investment, and chances are you will use them to protect other investments as well, such as cars, RVs, tools, etc. Rent-to-own may be for you if you need an affordable way to get a high-quality metal building without having another hit on your credit!
If you’re interested in purchasing your metal building through a rent-to-own program, you should:
1. Confirm Availability
Every state has different restrictions for almost everything, and unfortunately, rent-to-own programs are not exempt from this. For example, in California, rent-to-own programs are unavailable when purchasing a metal building. If you want to rent-to-own, check before you even get a quote to make sure the option is available for you in your area.
Most rent-to-own programs go up to $20,000. If the retail of your metal building is over that amount, some programs will allow you to pay the difference down to qualify for rent-to-own. If this is not available, then that is when it is recommended to look into financing options, which can go up to $55,000!
2. Speak to a Building Specialist
The only way to confirm that the price of the building you are interested in will qualify for rent-to-own is to get a quote! Speaking with a building specialist doesn’t just allow you to get a price, but it also allows you to ask any questions you have about what size building you should get, how the process works, and any other specifics that you need to know. Once you have a quote that falls within the rent-to-own limits, you can see what payment options are available.
Most rent-to-own programs offer 24-, 36-, 48-, and 60-month plans, and in some areas, 12-month same-as-cash plans are also available!
And the best part is that all of this information is 100% free through Bulldog Steel Structures!
3. Contract & Down Payment
Once you have selected the plan that works best for you, all that’s left is to sign your contract and pay your down payment! Your first payment on the building will not be due until 30 days after the building is installed, and there aren’t any early payoff penalties applied at any point in your contract!
The process really is as easy as one, two, three!
Frequently Asked Questions About the Rent-to-Own Process
Even with an easy process, it’s normal to have questions about the specifics, and we are here to answer those as well! Below are some of the questions that are commonly asked about RTO programs.
If you do not see your question answered, contact Bulldog Steel Structures at (888)-551-2156 to speak with an experienced building specialist.
Will my credit be run to qualify for RTO?
No. When it comes to rent-to-own, most lenders do not require a credit check. If one is required, the customer is made aware of this early in the process.
Do I have to have insurance?
While the building is being paid off, most lenders require the building to be insured. Most people put it under their homeowners insurance or the insurance provided by the lender — typically referred to as Loss Damage Waiver.
Do I have to own the land where the building will be built?
No. If you do not own the land, you can still rent-to-own the building, as long as the landowner gives written permission.
What are the benefits of choosing to rent-to-own?
Rent-to-own doesn’t make sense for everyone, but for most people, it is the way to go when purchasing a metal building.
Most people already have car, home, and personal loans and do not want their credit to take another hit. With rent-to-own, it doesn’t have to.
You can choose the plan that makes the most sense for you and your budget!
Are there any downsides to choosing rent-to-own?
Most people’s main concern is the interest rates, and historically, most rent-to-own programs do have astronomical interest rates. At the end of your contract, you may have paid almost double what the building costs. However, there is a way to combat this!
In some areas, we can offer a 90-day same-as-cash option, and you’ll have 90 days after the building is installed to pay your building off in full; this would result in no-interest payments.
Another option, in other areas, is to pay off your contract early. With this option, you do not have to pay any penalties as you would be making a principal-only payment at that point.
How do you know if rent-to-own is right for you?
Large investments can come with even larger fears, and at Bulldog Steel Structures, we not only understand, but we want to help!
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I would recommend bulldog steel highly. They are very professional and accommodating. Want to give special thanks to Randall Hall and also matt preslar. They were very accommodating and helping me fill out paperwork and handling things when a timel...- Shirley M.
Bulldog has been great to work with. They explained everything from beginning to end. I live in the mountains of New Mexico and the staff made sure that my garage had the right support needed for this area of the country. I would highly recommend t...- Bruce J.
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Have had nothing but a positive experience with Bulldog! Bryan was super helpful and still is after our install! He still responds super prompt and helpful. No complaints about our structure, as it looks amazing! Installers did a great job and pick...- Kristie S.
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