Rent-to-own agreements can negatively impact consumers because:(1 point)

Question

Responses

Consumers do not have to pay cash for the item
Consumers do not have to pay cash for the item

Consumers will pay a high interest rate on the item
Consumers will pay a high interest rate on the item

Consumers can immediately have access to the item
Consumers can immediately have access to the item

Consumers are limited from purchasing similar items

Answer 1

Rent-to-own agreements can negatively impact consumers primarily because:

Consumers will pay a high interest rate on the item.

While other factors like immediate access and the lack of cash payments might seem appealing, the high costs associated with the interest in rent-to-own agreements can lead to consumers paying significantly more than the item's retail price in the long run.