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How does lease to own work at Mobimed rentals ?
Leasing to own from Mobimed rentlas can be a great way to get what you want right now. We offer a simple lease program where you make periodic renewal payments, and if you make all of the lease renewal payments or complete an early purchase option, you will own the merchandise.
Leasing is a convenient way to get the items you want without a big upfront payment, using credit, or making a long-term commitment. Mobimed rentals offers a great selection of mobility scooters, with affordable payments and flexible choices on how to own your merchandise.
Mobimed rentals provides a rental purchase agreement, lease purchase agreement, consumer rental purchase agreement, rent to own agreement, lease agreement with an option to purchase, or lease as applicable by state. It is not a loan, credit, or financing. While no credit history is required for Mobimed Rentals, different digital approval processes, we do obtain information from consumer reporting agencies in connection with your lease application.
You will not own the leased merchandise or acquire ownership rights unless you make all your lease renewal payments or exercise an early purchase option. Not all applicants are approved.
What is the process? How do I get started ?
Complete an application online at www.mobimedrentals.com
What do I need to apply ?
When you apply online at mobimedrentals.com you may be asked for the following:
Name and contact information (address/phone)
Residence information
SSN
Government issued ID
Income information
Why is my Social Security Number required to lease online ?
Your social security number is used to process your application for approval.
Do you charge an application fee or processing fee. ?
Mobimed Rentals does not charge an application or processing fee.
What is the initial payment ?
The initial payment is 20% of the cash price! It is deducted from your total lease amount and is required to be made before you receive the merchandise. This amount varies by participating merchant location and category.
How will my product be delivered ?
We will call you to schedule delivery of your merchandise.
What should I do if my item is delivered damaged ?
If you notice that your merchandise is damaged, please contact your local store immediately.
How long will it take for my item to arrive ?
Delivery times vary based on the merchandise selected. If you have already completed your order, we will contact you to inform you on the expected delivery time.
Do you offer a same as cash option ? How does it work ?
For new agreements with a lease ownership plan longer than 4 months, if you payout your merchandise within the applicable same as cash period, you will pay the cash price, plus tax and applicable fees (if any). The same as cash period is generally 120 days.
Do I have the option of buying the product before my lease term ends ?
Yes. You can purchase the product at any time. If your ownership plan is longer than 4 months, you can take advantage of Mobimed Rentals same as cash option. For those new agreements with a payment option longer than 4 months, if you payout your merchandise within the applicable same as cash period, you will pay the cash price, plus tax and applicable fees (if any). The same as cash period varies by location but is generally 120 days.
In addition, after the same as cash option expires, you can purchase the merchandise for more than the cash price but less than the total of remaining lease payments, as described in your lease agreement. This early purchase option amount varies and is explained in the lease agreement.
What forms of payment do you accept ?
Mobimed Rentals accepts cash, ACH and all major credit cards.
What does Mobimed Rentals mean by total cost of ownership ?
The total cost of ownership includes the cash price of the merchandise plus the cost of lease services. It is the total of all scheduled lease renewal payments. You will also be responsible for applicable tax.
What if I can no longer afford my payments ?
We understand that unexpected situations come up that may prevent you from keeping your merchandise. If you find yourself unable to continue with your lease, please feel free to call Customer Service to discuss your options 321-405-5445.
What is meant by “no credit needed ?”
“No Credit Needed” means that you don’t necessarily need to have any established credit history to be approved for a lease. We look at many other data points to make a final decision, and we regularly approve customers that other stores won’t, including customers with less than perfect credit or very little credit history.
How is a lease different than a credit transaction, financing or a loan ?
An Mobimed Rentals lease is not credit. With a credit transaction, financing, or a loan, you make a purchase with borrowed money that must be repaid, often with interest. In a credit transaction, you owe for the balance of your debt even if you are no longer in possession of the merchandise. With a lease, you sign an agreement to lease merchandise from Mobimed Rentals. Mobimed Rentals owns the merchandise, but you can take ownership after making all required lease payments or through an early purchase option. And, if you choose to return the merchandise before you complete your ownership plan, you don’t owe anything more on the merchandise if you are current on your payments when it is returned according to the terms of your agreement.
Does Mobimed Rentals charge interest ?
You are leasing to own your merchandise, not financing the purchase with Mobimed Rentals. So, there is no interest charged like in a credit transaction. However, your total cost of ownership does include the cost of leasing which is the amount Mobimed Rentals charges you in addition to the retail price of the merchandise for all of the services and benefits of leasing to own with Mobimed Rentals. So, your total cost of ownership will be more than the retail price. The retail price, the cost of leasing, and the total cost of ownership are clearly disclosed for each product on mobimedrentals.com and in your lease agreement.
Does Mobimed Rentals report to credit bureaus? Can I build up my credit by doing a successful Lease ?
No. We do not currently report to credit bureaus. Mobimed Rentals provides a rent to own program, not credit. Only the credit bureau or consumer reporting agency can tell you how a particular reported transaction will impact its credit score.
What forms of ID are accepted when leasing ?
We accept US-issued identification including Driver’s License, government-issued Green Card, government-issued ID card, Passport, Residential Alien Card & State ID card. Matricula Consular are not accepted as ID for an online transaction.
Does my item come with a warranty ?
Yes. All mobility equipment’s come with a warranty.
What if I need service on my merchandise while I am leasing it ?
If you need service or repair, contact us.
Can I cancel my order before delivery ?
Yes. If you have not received your merchandise, Or if the item did not ship out, you can contact us at 321-405-5445 to cancel your order. The refund will be applied to the card you used to make the first payment.
What is Mobimed Rentals return policy ?
Once your item has been delivered, you can contact your local store to schedule a time for return or pick-up as stated in your agreement. However, you will not receive a refund.
Do I need to return my item in its original packaging ?
Yes. To prevent shipping damage and avoid potential penalties on returns, you must include the item plus all its original accessories.
Who will pay for the return item if we no longer need it?
You are responsible for paying all shipping fees to return your item.
