What Acima is and how it works
Acima is a lease-to-own payment plan that lets you take home furniture, electronics, appliances, or other goods when ready and pay for them over time through weekly or bi-weekly payments. You do not borrow money upfront. Instead, you lease the item from Acima, with the option to own it once you have made enough payments.
The way it works: you find an item at a participating retailer (online or in-store), Acima checks your income and payment history, and if approved, you take the item home the same day or within a few days. You then make regular payments — usually weekly or every two weeks — directly to Acima. After a set number of payments (typically 12 to 24 months, depending on the item and your agreement), you own it outright. You can also return the item at any time without penalty if you change your mind.
Acima operates in all 50 states and works with thousands of retailers including Best Buy, Walmart, Ashley Furniture, Aaron's, and many local stores. The company does not require a credit check in the traditional sense — they look at income, bank account activity, and payment history instead, which means people with no credit or poor credit may still be approved.
Key Takeaways
- Acima is a lease-to-own service, not a loan, so you pay weekly or bi-weekly and own the item after the final payment.
- The total amount you pay over the lease term is significantly higher than the item's retail price because Acima charges fees and interest built into each payment.
- You can return the item at any time without penalty, but you lose all money paid so far and do not own the item.
- Acima does not require a traditional credit check, making it accessible to people with limited or poor credit history.
- The same item at the same retailer will cost you more through Acima than if you paid cash or used a credit card, so compare the total cost before committing.
How much you actually pay with Acima
The total cost of an Acima lease is always higher than the item's retail price. Acima builds fees and interest into each payment, and the longer the lease term, the more you pay overall. For example, a $500 television might cost you $700 to $900 or more by the time you own it, depending on the lease length and your payment schedule.
Acima does not publish a single interest rate because the cost varies based on your income, the retailer, the item, and your payment history. The company uses a lease structure rather than traditional interest, but the effect is the same: you pay significantly more than the retail price. Before you agree to any Acima plan, the company must show you the total amount you will pay, the payment amount, and the payment schedule. Read this disclosure carefully — it is the only way to know the true cost.
If you return the item before the lease ends, you get no refund. All payments you made are kept by Acima. This is different from a traditional loan, where paying early can save you money. With Acima, early return means you lose your investment.
When Acima makes sense and when it does not
Acima works best when you need something when ready and have no other way to pay for it — you have no savings, no credit card, and no family who can lend you money. In that situation, Acima gets you the item now instead of waiting months to save. It also works if you are unsure whether you want to keep the item long-term; the return option means you can try it without being locked in.
Acima does not make sense if you have other payment options. A credit card, a personal loan from a bank, or a store credit card will almost always cost you less over time. Even a high-interest credit card is usually cheaper than Acima because the total cost is lower. If you can save up and pay cash within a few months, that is the cheapest option by far.
Acima also does not work well if you are already struggling with money. The weekly or bi-weekly payments add up quickly, and if you miss payments, Acima can repossess the item and keep all the money you paid. Before you sign up, make sure you can afford the payment every single week or every two weeks without cutting into money for rent, food, or utilities.
What happens if you miss a payment
Acima allows a grace period of a few days after your payment is due, but if you do not pay within that window, the company will contact you. If you continue to miss payments, Acima can repossess the item — meaning they send someone to your home or workplace to take it back. Once repossessed, you lose the item and all the money you have paid toward it.
A repossession also damages your payment history with Acima, which means you may not be approved for future Acima leases. The repossession itself does not show up on your credit report (because Acima is not a loan), but it can affect your ability to use Acima again. If you know you will miss a payment, contact Acima before the due date. The company sometimes works with customers on payment arrangements, though this is not may provide. It is always better to call ahead than to wait for a repossession notice.
Acima versus other payment options
The table below compares Acima to other ways you might pay for an item:
| Payment Method | Total Cost | Credit Check | Can Return Item | Best For |
|---|---|---|---|---|
| Acima lease-to-own | 40–80% more than retail price | No traditional credit check | Yes, anytime, no refund | No savings, no credit, need item now |
| Credit card | 15–25% more (if you carry a balance) | Yes, hard inquiry | No, but you own it when ready | You have decent credit and can pay within months |
| Store credit card (Best Buy, Walmart, etc.) | 0% if paid in full within promotional period; otherwise 20%+ | Yes, hard inquiry | No, but you own it when ready | You have fair credit and can pay within 6–12 months |
| Personal loan from bank or credit union | 10–30% more (depending on rate) | Yes, hard inquiry | No, but you own it when ready | You have fair to good credit and want a lower total cost |
| Saving and paying cash | Retail price only | No | Yes, return for refund | You can wait a few months |
The comparison shows that Acima is the most expensive option in almost every scenario. You pay the highest total cost and cannot build credit. The only advantage is that you do not need good credit to be approved. If you have any other way to pay — even a high-interest credit card — that option will cost you less money over time.
How to use Acima responsibly
If you decide to use Acima, take these steps to protect yourself. First, read the lease agreement before you sign. The company must provide the total cost, the payment amount, the payment schedule, and the return policy in writing. Do not sign anything you do not understand, and ask the retailer or Acima to explain any terms.
Second, make sure the weekly or bi-weekly payment fits your budget. Write down your income and all your regular expenses (rent, food, utilities, phone, insurance) and see what is left over. The Acima payment must come from that leftover amount, not from money you need for essentials. If the payment is tight, do not sign up.
Third, set up automatic payments if Acima offers it. This removes the risk of forgetting a payment and triggering a repossession. Check your bank account before each payment date to make sure the money is there.
Fourth, keep your Acima account information and payment receipts in a safe place. If there is ever a dispute about whether you paid, you will need proof. Acima's online account portal shows your payment history, so log in regularly to confirm payments went through.
Frequently Asked Questions
Can I own the item before I finish all the payments?
Yes. Acima allows you to pay off the lease early and own the item when ready. The company will tell you the payoff amount if you ask. However, paying early does not save you money — you still pay the full total cost of the lease. Early payoff is useful only if you want to own the item sooner, not for saving money.
Does Acima report to credit bureaus?
No. Acima is a lease, not a loan, so it does not show up on your credit report. This means using Acima does not help you build credit, and missing payments does not hurt your credit score. However, a repossession can affect your ability to lease with Acima in the future.
What if the item breaks or stops working?
Acima typically covers repairs or replacement for items that break due to normal wear and tear, but this depends on your specific lease agreement. Read the warranty section of your lease carefully. If the item is damaged by accident or misuse, you may be responsible for repair costs. Contact Acima when ready if something breaks.
Can I transfer my Acima lease to someone else?
No. Acima leases are tied to the person who signed the agreement. You cannot transfer the lease to a family member or friend. If you no longer want the item, you must return it to Acima.
What if I want to return the item but Acima says I owe more money?
If you return an item that is damaged beyond normal wear and tear, Acima may charge you a damage fee. This fee comes out of any refund you might receive, though Acima leases typically do not include refunds for early returns. Ask Acima in writing what condition the item must be in to return it without extra charges.