Rent to buy on a skid steer? changed my mind after Calgary

I used to laugh at rent to own equipment deals, thought it was just a trap for guys with bad credit. Then I ran a 3 month highway job near Calgary and the owner let me apply 60% of the rental fee toward the purchase price, so I actually came out ahead on a used Bobcat. Has anyone else done one of these agreements that wasn't a total scam?

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dakotal1615d ago

That 60% credit sounds like the unicorn deal, because most of those outfits cap it around 30% or sneak in a mileage fee that eats your savings. Read the fine print on the maintenance clause too, some will stick you with a $500 service bill for a loose hose clamp on the day you return it. Ask for a written breakdown of what counts toward the buyout before you sign, and make sure the machine's serial number is listed right there on the contract.