Update by user Jan 15, 2018
I will also be filing a lawsuit against them since companies like this will just loot the poor.
Original review posted by user Jan 15, 2018
I bought a sectional for $800 and with tax + delivery + insurance for it, the total was around $1150. I asked the lady who drafted up the contract to make it such that I can pay off the entire amount in full without interest and she said ok, you're monthly amount will be $178 per month after charging me $344 initially which included the damage waiver, delivery charge, processing fees and tax.
Now after 4 months, I assumed I would have just 1 or 2 more payments to make but suddenly the balance on the sectional has gone up by $800. I was thinking what is wrong with this system? Then I call them up and they say because I didn't pay it off in full in 3 months, I have now "leased" the sectional, which will get paid off in 19 months at the current monthly rate, so I would end up paying almost 3 TIMES the original amount. I asked them why they couldn't set my monthly payments so that I would have paid this off in 3 months and their answer is they can't do that, obviously because they want people to miss paying it off in 3 months.
Their website either doesn't allow you to pay off more than your monthly amount and there's no reminder sent before the 3 months ends that if you don't pay it off now, you're leasing the furniture at this rate for 19 months till you've paid it off in full with interest. I will never buy anything from value city ever again, and I will give a bad rating to both value city furniture as well as them in the better business bureau.
Product or Service Mentioned: Acceptance Now Furniture Leasing.
Reason of review: Problems with payment.
Monetary Loss: $600.
Preferred solution: Price reduction.
Acceptance Now Cons: Being lied to and ridiculous interest, Anyting about the 90 days same as cash, Customer service or staff, Different explanations from different employees.