Everything You Need to Know About Acima Leasing’s Alternative to Financing
Nov 09, 2023
Businesses these days need to explore every opportunity and keep atop of evolving consumer needs and preferences if they have any hope of thriving in today’s market. Not only that, but staying ahead of these changes is vital for retailers to remain competitive. It’s a relentless pursuit, but necessary. Fortunately, there are other companies that are here to help make those pursuits easier to achieve.
One of the significant shifts in the retail landscape is the rise of alternatives to traditional financing that give consumers flexibility and choice in how they shop for the things they need or want (especially when it comes to larger items like furniture or appliances). These alternatives, such as Acima Leasing’s lease-to-own option*, are creating a two-fold effect: they’re changing the way consumers shop and providing numerous benefits for retailers.
If you’re ready to explore alternatives in order to both maximize your customers’ shopping experience as well as get a leg up on your competitors, Acima Leasing can be the ideal solution for your stores. But what is it all about? In this comprehensive guide, we will delve into everything you need to know about Acima Leasing’s lease-to-own alternative to finance and how you can use it to start transforming your business.
How Does Acima Leasing’s Lease-to-Own Option* Work?
In a nutshell, Acima Leasing’s lease-to-own option* is designed to make it easier for people from all financial backgrounds to acquire large products without the constraints of traditional credit or other financing. Here’s a detailed look at how the program operates:
Find an Eligible Item: The Acima Leasing process begins when your customer identifies an item they desire from your store’s inventory.
Purchase and Lease: Acima Leasing purchases the chosen item and then leases it to the customer under the terms of a ”lease-to-own,” ”lease-purchase” or ”rental-purchase” agreement (the name varies by state but we’ll call it ”LTO”).
Ownership Choice: This step provides customers with flexibility in a number of different ways:
They can choose which payments fit best with their budget so they can pay through the entire period to ownership.
They can choose to own the item when they are ready (whether at the end of the term or before).
They can return it to Acima Leasing if their circumstances change or if the item no longer serves their needs (if the product is still in good condition).
Shopping Flexibility: Acima Leasing offers customers the option to shop with retailers either in store or online. They have the choice when they are on the Acima Leasing website or Acima Leasing app on how to reach that retailer. This ensures that your customers have a seamless and flexible shopping experience, however they prefer to shop for the items they want.
Re-Marketing: After a successful lease is completed, Acima Leasing continues to work with the customer on your behalf, encouraging them to return to your store to shop using this lease-to-own option*. This feature aids in boosting customer retention and your store’s overall success.
If you have further questions, don’t hesitate to check out our frequently asked questions or reach out to our support team for more in-depth information.
The Benefits of Acima Leasing’s Lease-to-Own Option*
Collaborating with Acima Leasing offers numerous advantages to your business — in fact, it could be your secret weapon to enhance your potential for success in a highly competitive market: Here are just a few of those potential benefits:
Attract New Customers: In an era of declining foot traffic in physical stores, Acima Leasing’s lease-to-own program can help you to attract new customers who may have been overlooked (or who may have overlooked you) in the past.
Serve Credit-Challenged Customers: Acima Leasing offers a transparent and reputable method for serving customers with less-than-perfect credit. This creates a win-win scenario for your business and the customers who you may have had to turn away previously
Reduce Retail Costs: By partnering with Acima Leasing, you can lessen the financial burden of expensive retail partner-funded rewards and other retention programs. This, in turn, frees up valuable resources for other essential aspects of your business.
Overcome E-commerce Challenges: Acima Leasing’s program is equipped to help you tackle e-commerce challenges without the need for additional investment. Our mobile app makes it easy for your customers to shop online, and our dedicated support team is always available to assist you in this transition.
Speedy Approvals: Our fast application process takes less than a minute, helping you close deals swiftly.
Flexible Payment Plans: We provide flexible payment options*, ensuring that your customers can make purchases without financial strain.
High Approval Amounts: With approval amounts of up to $5,000, your customers will have shopping power that they didn’t have access to before.
What Can Customers Lease with Acima Leasing?
Acima Leasing’s lease-to-own option* extends to a various, ever-growing list of merchandise categories – everything from personal and family items to large home and auto products. These categories include, but are not limited to:
Appliances (including hoses)
Video Game Systems
Computers, Laptops, Tablets, Smart Phones
Generally, customers may lease durable goods that are for personal or household use. To be eligible for a lease, items must typically cost a minimum of $300 each.
Getting Acima Leasing Up and Running Is Easy
From understanding and implementing to training staff and marketing to customers, the thought of starting a new program in your stores can often seem daunting. That’s why Acima Leasing has a dedicated team ready to assist you and your employees.
Whether you require on-site or virtual training, our experts are available to help you grasp the program’s details, terms and benefits. This enables your employees to confidently communicate these details to your customers. Moreover, you’ll have access to a dedicated support team for as long as you offer Acima Leasing that can promptly address any questions or concerns you or your employees may have. In other words, Acima Leasing will be with you every step of the way.
Acima Leasing: Start Taking Your Business to the Next Level
Are you ready to provide a more inclusive and flexible shopping experience for your current customers as well as new, previously unattainable customers? Explore Acima Leasing’s lease-to-own solution* and discover how becoming an Acima Leasing retailer can take the success of your business to a new level your competitors may not be able to reach.
Then, let’s talk! By partnering with Acima Leasing, you can unlock new opportunities, attract a diverse customer base and navigate the evolving retail market with confidence. And we’re here to support your business at every step, making it easier for you to thrive in today’s ever-changing retail landscape.