I purchased some furniture from a local story and I paid over $3000 in cash but still needed $1700 to complete the purchase. So they offered this 90-day-same-as-cash program through Acceptance Now.
I was leery of it, but was assured that it was no big deal,
I was told that if I didn't pay the balance off in 90 days, it would convert to a regular revolving account and I would pay it off with interest. That was okay with me, because I've made payments on purchases before and it seemed like a fair deal.
The truth is, they converted it to a lease and now I will end up paying over $5000 for $1700 worth of furniture.
I didn't discover this until I asked about my balance today. I've paid in 1800 over the last year and my balance is still 1500 (the principal was 1700)
That seems ludicrous. I'm contacting an attorney.
Product or Service Mentioned: Acceptance Now Furniture Leasing.
Reason of review: Pricing issue.
Preferred solution: I have paid for the cost of the furniture. Let's determine a fair amount of interest to be paid for the last 12 months and close the account out. The exorbitant "leasing fees" are shameful..
Acceptance Now Cons: Disgusted with follow up from customer service, Atrocious leasing fees.
Location: Willow Grove, Pennsylvania