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Acima Leasing provides a way for those with bad credit or non-existent credit history to make large purchases with a lease-to-own model. If you need to make a purchase, you can choose from over 15,000 stores to shop, then set up a payment plan to lease products until you own them or opt to purchase them early at a discounted rate.
But, is Acima Leasing worth the cost? While the service is accessible to individuals with less-than-optimal credit, you’ll find yourself hit with high fees that can make your purchase cost over twice as much.
Let’s take a deeper look.
What Is Acima Leasing?
Acima Leasing
Lease-to-Own Financing
Key Features
- Access to up to $4,000 in ‘shopping power’
- Approval for those with bad or no credit
- Easy approval and purchases via mobile app
Acima is a rent-to-own company that allows you to make purchases with no credit check, then make payments toward owning your goods outright. But beware of extremely high leasing fees.
Acima Leasing
Minimum credit score
No credit required to purchase with Acima Leasing. Approval based on your income.
Lease amount
$300 to $4000, pending approval.
Shopping options
Over 15,000 retail partners including Best Buy, PC Richard & Son, and more.
Leasing fees
Leasing fees vary, but in our testing we found Acima to charge an equivalent of up to 140% interest on a $500
Acima follows a model known as lease-to-own, which allows you to have use of products while paying them off until you own them outright. The company has teamed up with over 15,000 retail stores so that you can purchase anything from furniture to appliances and electronics.
Acima isn’t the only lease-to-own company, with other popular options such as Rent-A-Center being around for nearly fifty years. The model works with you purchasing a product that the leasing company legally owns; you then pay for the product according to an agreed-upon payment schedule.
While you may hear some people refer…
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