Noah Patel
Aaron's offers flexible payment options for customers who want to rent to own. While the company does not explicitly mention payment deferment, it does provide a range of lease ownership plans, including 12, 18, and 24-month options, allowing customers to choose a plan that suits their budget and needs. Additionally, Aaron's offers a Same As Cash Option, where customers can purchase merchandise at the cash price if they pay out within a specified period, which is generally 120 days, but varies by location. Aaron's also provides an Early Purchase Option, where customers can buy the merchandise at a discounted price compared to renting it for the full lease term. In the event of unforeseen circumstances, customers can contact Aaron's customer service to discuss their options and potentially return their leased merchandise. Aaron's Club also offers payment waivers in specific situations, such as sickness or injury, where members must be unable to work for at least 30 days to qualify.
| Characteristics | Values |
|---|---|
| Payment deferment | Aaron's Club offers Accident and Sickness Payment Waivers after 90 days from the date of injury or sickness. Members must be unable to work for a minimum of 30 days to become eligible for a payment waiver. |
| Payment options | Aaron's offers flexible payment options. Customers can choose a lease ownership plan of 12, 18, or 24 months and select their payment schedule. |
| Payment methods | Aaron's accepts cash, checks, money orders, and all major credit cards at most locations. |
| Same As Cash Option | For lease ownership plans longer than 6 months, customers can pay the Cash Price, plus tax and applicable fees, within the Same As Cash period. The period is generally 120 days, but varies by location and is 90 days for California residents. |
| Early Purchase Option | After the Same As Cash period expires, customers can exercise the Early Purchase Option, which is more than the Cash Price but less than the cost of renting the merchandise for the full lease ownership plan. |
| Low Price Guarantee | Aaron's promises to meet or beat any local rent-to-own competitor's advertised total cost of lease ownership on the same item or give the customer $100 in cash. |
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What You'll Learn
Aaron's Club payment waivers
Aaron's Club offers various benefits to its members, including payment waivers in specific situations. Here are the details regarding Aaron's Club payment waivers:
Accident and Sickness Payment Waivers
Aaron's Club provides payment waivers in the event of a member's sickness or injury. To be eligible for this waiver, a member must be unable to work for a minimum of 30 consecutive days due to sickness or injury. Once approved, the waiver will be applied retroactively from the first day of the member's verified inability to work and will continue for each 30-day period of confirmed inability to work. It is important to note that waivers will not be approved if the lease agreement was executed after the first day of injury or sickness, or if the member was not an active paid member of the club program prior to becoming unable to work. Additionally, waivers are not provided for situations involving pregnancy, childbirth, elective surgery, or mental disorders.
Accident and Sickness Payment Waivers for Damaged Merchandise
Aaron's Club also offers payment waivers for accidentally damaged merchandise due to a covered event. If an item is accidentally damaged, members can pay a discounted rate of 25% of the repair invoice through the Accident Assist benefit. In cases where the item is beyond repair, members can rent replacement merchandise at a discounted rate equivalent to one month's rental payment. This benefit ensures that members can continue their progress towards ownership without starting over. To be eligible for this waiver, members must be in good standing for 90 consecutive days before the incident.
Payment Waiver upon Death of a Member
In the unfortunate event of the death of a member named on the lease agreement, Aaron's Club will waive the remaining lease payments. To qualify for this waiver, the lease agreement must be in effect at the time of the member's death, and the member must be listed on the agreement.
It is important to note that Aaron's Club payment waivers are subject to specific terms and conditions, and members should refer to their lease agreements and official Aaron's Club sources for detailed information.
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Same As Cash Option
Aaron's offers a 'Same As Cash Option' for new agreements with a lease ownership plan longer than 6 months. This means that if you pay off your merchandise within the applicable 'Same As Cash' period, you will only need to pay the cash price, plus tax and any applicable fees. The 'Same As Cash' period varies by location but is generally 120 days. For California residents, the 'Same As Cash' period is 90 days for all rental purchase agreements.
The 'Same As Cash Option' is a special ownership option for customers with rental agreements spanning longer than six months. Unlike retailers that require full payment before you can take your item home, Aaron's allows you to make a small upfront payment and then take your chosen product home the same day. After that first payment, you can either make your scheduled payments until you own the product, or you can pay out early and save with the 'Same As Cash Option'.
The 'Same As Cash Option' is explained in the Aaron's Service Plus Addendum attached to your lease agreement. After the 'Same As Cash Option' expires, you can exercise the Early Purchase Option, which will be more than the Cash Price but less than what you would pay if you rented the merchandise for your full lease ownership plan. The details of the Early Purchase Option vary based on the state where you live and are explained in your lease agreement.
Aaron's offers flexible payment options, allowing you to choose a lease ownership plan of 12, 18, or 24 months. You can also set up automatic payments with EZPay and select your payment schedule. Aaron's provides a written agreement that explains the terms of the lease-to-own transaction. It is not a loan, credit, or financing, and no credit history is required for approval.
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Early Purchase Option
Aaron's offers flexible payment options for customers who want to rent to own. Customers can choose a lease ownership plan of 12, 18, or 24 months and select their payment schedule. Aaron's also offers a Same As Cash Option for lease ownership plans longer than 6 months. If customers pay out their merchandise within the applicable Same As Cash period, they will pay the Cash Price, plus tax and applicable fees. The Same As Cash period varies by location but is generally 120 days, and 90 days for California residents.
After the Same As Cash Option expires, customers can exercise the Early Purchase Option, which is more than the Cash Price but less than what customers would pay if they rented the merchandise for the full lease ownership plan. The details of the Early Purchase Option vary based on the state where the customer lives. The Early Purchase Option is explained in the customer's lease agreement.
Aaron's offers a simple lease program where customers make periodic renewal payments, and if they make all the lease renewal payments in their lease ownership plan or complete an early purchase option, they will own the merchandise. Leasing is a convenient way to obtain items without a big upfront payment, using credit, or making a long-term commitment.
Aaron's lease is a rental transaction where customers obtain ownership of the leased merchandise over time by making all the required lease payments in their lease ownership plan or through an early purchase option. With a credit transaction, financing, or a loan, customers make a purchase with borrowed money that must be repaid, often with interest. In a credit transaction, customers owe the balance of their debt even if they are no longer in possession of the merchandise. With a lease, customers sign an agreement to lease merchandise from Aaron's. Aaron's owns the merchandise, but customers can take ownership after making all the required lease payments in their lease ownership plan or through an early purchase option. If customers choose to return the merchandise before they complete their ownership plan, they don't owe anything more on the merchandise if they are current on their payments.
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Low Price Guarantee
Aaron's offers a Low Price Guarantee on its products. This means that if you find the same item for a lower total cost of lease ownership at a local rent-to-own competitor, Aaron's will either match that price or beat it. If they are unable to do so, they will give you $100 in cash.
Aaron's offers flexible lease ownership plans with no hidden fees. You can choose a lease ownership plan of 12, 18, or 24 months, depending on what best suits your budget. Aaron's also offers affordable monthly leasing agreements, so you can get quality products with the latest features from premium brands without breaking the bank.
Aaron's has over 10,000 brand-name products for every room in your house, including furniture, electronics, appliances, and computers. Their rent-to-own option allows you to get what you want right now without a big upfront payment, using credit, or making a long-term commitment.
With Aaron's, you can discover your Leasing Power, which is the total monthly amount that you have available to lease products. This allows you to shop with confidence, knowing your budget in advance. Once you've found your perfect product and signed your lease agreement, Aaron's will provide free delivery and set-up.
Aaron's rent-to-own option provides a simple and flexible way to get the items you want without the financial constraints of large upfront payments or long-term commitments.
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Payment options and plans
Aaron's offers flexible payment options for its lease-to-own plans. On most products, you can choose a lease ownership plan of 12, 18, or 24 months. You can also select your payment schedule if you set up automatic payments with EZPay.
The company offers a simple lease program where you make periodic renewal payments. If you make all the required payments in your lease ownership plan or complete an early purchase option, you will own the merchandise. Leasing avoids large upfront payments and allows you to obtain products without using credit or making a long-term commitment.
Aaron's also offers a Same As Cash Option for lease ownership plans longer than six months. If you pay out your merchandise within the applicable Same As Cash period, you will pay the Cash Price, plus tax and applicable fees. The Same As Cash period typically lasts 120 days, but it is 90 days for California residents. After this period expires, you can exercise the Early Purchase Option, which is more expensive than the Cash Price but less than the total cost of renting the merchandise for the full lease ownership plan.
Additionally, Aaron's Club provides benefits such as accident and sickness payment waivers. To be eligible for a sickness payment waiver, you must be unable to work for a minimum of 30 days. Accident Assist allows for the repair of accidentally damaged items at a discounted rate of 25% of the repair invoice. If the item is not repairable, members can rent replacement merchandise and continue towards ownership without restarting the lease.
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Frequently asked questions
Aaron's offers flexible payment options, including the ability to choose a lease ownership plan of 12, 18, or 24 months. They also offer a Same As Cash Option, where if you pay out your merchandise within a certain period, you pay the Cash Price plus tax and applicable fees. Additionally, Aaron's Club provides benefits such as Accident and Sickness Payment Waivers, where members can pay a discounted amount for repair or replacement of merchandise damaged due to a covered event.
Aaron's accepts cash, checks, money orders, and all major credit cards at most locations. They also offer flexible payment options, allowing customers to choose a lease ownership plan that best suits their needs.
Aaron's Rent to Own is a simple lease program where you make periodic renewal payments. If you make all the required lease renewal payments in your lease ownership plan or choose an early purchase option, you will own the merchandise. It is not a loan, credit, or financing, and no credit history is required for approval.
Yes, if you find yourself unable to continue with your lease, you can contact Aaron's Customer Service to discuss your options. You can return your leased merchandise by contacting your local store and arranging a return.
