A tough economy hits hardest for those with lower incomes and poor to no credit, which is where rent-to-own and lease-to-own can be a lifesaver — and in many ways, they are — even as the biggest players in the space keep a hand on...
The rent-to-own and lease-to-own retail concepts that seem tailor made for recession-pressed consumers with subprime credit are in fact seeing their models tested by an unforgiving market where shoppers are showing a preference for bargains and extra sensitivity toward fees. The latest example of this...
Rent-A-Center has announced a change in management for its virtual lease-to-own operation Acima, one month after reporting disappointing Q4 results. As the Texas-based furniture, appliance and electronics rental chain said in a news release Tuesday (March 29), Aaron Allred has been named executive vice president...
Much has been written about buy now, pay later (BNPL) in recent months, and for good reason. Major payments players are stepping in, including Visa, Mastercard and Discover; and last week, Square announced plans to acquire Afterpay for $29 billion. But before there was BNPL,...
September 30, 2022
The rent-to-own and lease-to-own retail concepts that seem tailor made for recession-pressed consumers with subprime credit are in fact seeing their models tested by an unforgiving market where shoppers are showing a preference for bargains and extra sensitivity toward fees. The latest example of this low-end shift was seen Thursday (Sept. 29) in a statement […]
July 28, 2024
The Consumer Financial Protection Bureau (CFPB) has accused rent-to-own company Acima of tricking customers into high-cost financing agreements. The CFPB on Friday (July 26) sued Acima — owned by Upbound, formerly known as Rent-a-Center — alleging that the company disguised many of its credit agreements as leases to get around consumer protection laws. “Due to […]
March 30, 2022
Rent-A-Center has announced a change in management for its virtual lease-to-own operation Acima, one month after reporting disappointing Q4 results. As the Texas-based furniture, appliance and electronics rental chain said...
August 02, 2021
Acima, the virtual lease-to-own (LTO) FinTech arm of Rent-A-Center, Inc., on Monday (Aug. 2) rolled out a digital platform focused on improving the retail leasing experience. The digital initiative includes...
December 21, 2020
Rent-A-Center is acquiring Acima Holdings in a $1.65 billion deal to develop a virtual lease-to-own (LTO) platform. Mitch Fadel, chief executive officer at Rent-A-Center, said in a press release on...
