Acceptance Now - Feels like an absolute scam, paying more than double the purchase price for no reason
The agreements offered for people with low credit are absolutely absurd. The total payment on a $529 piece of furniture ends up costing $1042.85 BEFORE TAXES.
That's with on-time payments. I wish I read the fine print better, because I never would have purchased anything from this awful awful service, or any of it's affiliated retailers.
Beyond the absurdly high interest rate on a rent-to-own agreement; paying extra--or taking the early purchase route is not well facilitated, and requires a phone call during their business hours (in which I'm at work, because like most jobs, my job requires me to be on premise for the hours the call center is open). You have no capability to view your remaining purchase amount, your remaining payments due. All you get to see is your current monthly due date, your next month's due date, and the current month's payment due.
I genuinely hope that anybody considering financing through AcceptanceNOW reconsiders before they find themselves in the exact same position I'm in.
To not show your past payments is shady enough, but to not show what is remaining is absolutely disgusting in my opinion. If you're not willing to provide this minor degree of transparency to your customers, it is going to feel illegitimate, and that's exactly what this feels like. To be unable to easily see what I've already paid for this piece of furniture is uncomfortable.
I genuinely will never consider stepping foot in any of their affiliated retailers because of the way the business is handled. I'm going to contact customer service tomorrow to request an emailed invoice of all past payments, as well as all remaining future payments, and I'm already dreading the experience based on how "well rated" their customer service is.
Product or Service Mentioned: Acceptance Now Furniture Leasing.
Reason of review: Pricing issue.
Monetary Loss: $500.
Preferred solution: Implement on the website the ENTIRE PAYMENT PLAN, including PAST AND FUTURE payments..
Acceptance Now Cons: Website not accurate, Pricing method, Price will be double of the original, Shady business practice, Inability to look at payment history.