- Who owns Acima
- How Acima lease-to-own works
- A lease is not a loan, and that changes what you pay
- Early purchase, returns and cancelling an Acima lease
- What regulators and the press have said about Acima
- Acima and the credit card with a similar name
- Scams that use lender names
- So, is Acima legit?
- Frequently asked questions
Acima is a real lease-to-own company, now part of Upbound Group, formerly Rent-A-Center. Its own site says this is not a loan, credit or financing, and that ownership through leasing costs more than the retailer's cash price. The catch is the total cost, so read the lease terms before you sign.
Acima shows up at the checkout of a lot of furniture, mattress and electronics stores, so it's no surprise people search for whether it's legit. I've read what Acima says about itself, plus what the press and a law-firm note report about the legal fights around it. I'm not giving financial advice, and your own situation matters, so treat this as a reading guide.
Who owns Acima
According to Wikipedia, Rent-A-Center closed its acquisition of Acima Holdings in 2021. In 2023, Rent-A-Center, Inc. became Upbound Group, Inc., based in Plano, Texas. So Acima is a unit of a long-established lease-to-own group, not an anonymous app.
How Acima lease-to-own works
Acima's site says it buys the item from the retailer and leases it to you. You can use it at thousands of retail stores or online, and the site lists furniture, mattresses, appliances, tires, electronics and jewelry. You make an initial payment, then choose a schedule that matches how often you're paid.
Its approval page says shopping power ranges from 300 to 5,000 US dollars, that basic requirements include an active checking account and a government-issued photo ID, and that not all applicants are approved.
A lease is not a loan, and that changes what you pay
The wording on Acima's site is direct: "This is not a loan, credit, or financing." It also says acquiring ownership by leasing costs more than the retailer's cash price. Elsewhere it says the standard agreement offers 12 months to ownership if you make each lease renewal payment, and that doing so may cost more than double the cash price.
That's the single most important line on the page. A lease can feel easier to get than a loan, but you pay for that convenience. Before you sign, work out the total you'd pay at the end and compare it with the cash price shown in the store.
| What I checked | What Acima's own pages say |
|---|---|
| Loan or lease | A lease: not a loan, credit or financing |
| Cost to own | More than the retailer's cash price; may be more than double |
| Time to own | 12 months under the standard agreement if you make every renewal payment |
| Early purchase | Available at a discount, but you're not automatically enrolled and it needs extra payments |
| Returns | Merchandise in good condition can be returned at any time without penalty |
| Availability | Not available in MN, NJ or WI |
Early purchase, returns and cancelling an Acima lease
Acima says you can buy early at a discount but aren't automatically enrolled in any early purchase option, and that buying early requires additional payments. It also says you can return merchandise in good condition at any time without penalty. To cancel or buy early, its site points you to its customer service line or its customer portal.
Keep records: your lease paperwork, each payment confirmation and the date you returned anything. If a dispute comes up, a paper trail helps. If you think a lender or lessor has treated you unfairly, the CFPB takes complaints.
What regulators and the press have said about Acima
This is the part that worries people. According to American Banker, the New York attorney general sued Acima in August, arguing it behaves like a lender and that its contracts are loans under New York law. Acima's website says its purchase options are not a loan or a credit card and that it would present its case in court. I haven't confirmed how that case ended.
The CFPB also took action. A Katten law-firm note dated 7 March says the CFPB voluntarily dismissed its enforcement action against Acima in Utah federal court. The note says the CFPB had argued that Acima's lease-to-own business should be regulated as credit. A dismissal isn't a ruling on the merits, so I'd read it as one chapter, not the final word.
If you're comparing costly short-term borrowing, my guides on getting a fair deal on a payday loan and whether a car title loan makes sense explain the traps to check for.
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Acima and the credit card with a similar name
Acima's site says the Acima Classic Credit Mastercard is issued by The Bank of Missouri and serviced by Concora Credit Inc., and that those companies aren't affiliated with Acima's lease-to-own service. That matters because the names sound alike. Know which product you're applying for before you submit.
Scams that use lender names
Real lessors don't need money before you've received anything. The FTC says up-front fees demanded before a loan is granted are a reason to walk away, that scammers often ask for cryptocurrency, wire transfers or gift card numbers, and that "No one legitimate will ever ask you to pay for a promise."
- Start applications from the retailer's checkout or Acima's official site, not a link in a text or email.
- Never pay an 'approval fee' by gift card, wire transfer or cryptocurrency.
- Check the contract's total cost and the payment schedule before signing.
- Use the contact details on Acima's own site, not a number from a pop-up advert.
- Report scam calls or losses at ReportFraud.ftc.gov.
So, is Acima legit?
Yes, it's a real lease-to-own business with a large parent company and clear statements that it isn't a loan. The honest catch is cost: owning through leasing costs more than paying cash, and the legal debate over whether such leases should be treated as credit is not fully settled. Read the lease, check the total and decide whether it suits your situation.
Frequently asked questions
Is Acima legit?
Yes. It's a lease-to-own company owned by Upbound Group, formerly Rent-A-Center. Its site says this is not a loan, credit or financing, and that ownership costs more than the retailer's cash price.
Is Acima a loan?
Acima's site says it isn't: it describes a lease. The New York attorney general has argued in a lawsuit that it behaves like a lender, and Acima has said it would present its case in court.
Can I return something I got through Acima?
Acima says you can return merchandise in good condition at any time without penalty. Keep your paperwork and check your lease terms.
How long does it take to own the item?
Under the standard agreement, Acima says you get 12 months to ownership if you make each lease renewal payment. It says this may cost more than double the cash price.
Did the CFPB sue Acima?
A Katten law-firm note dated 7 March says the CFPB voluntarily dismissed its enforcement action against Acima in Utah federal court.
Where is Acima not available?
Acima's site says its service is not available in MN, NJ or WI.
