Acima does not require a down payment
Acima is a lease-to-own company that lets you take home furniture, electronics, appliances, and other goods when ready without paying anything upfront. You make your first payment when you receive the item, not before. This is the core difference between Acima and traditional retail financing — there is no down payment to collect before the lease begins.
The company makes money by charging weekly or bi-weekly payments over the lease term, which typically runs 12 to 24 months depending on the item and your agreement. The total amount you pay over that time is higher than the retail price of the item, which is how Acima covers its costs and profit. But that markup is built into the payment schedule, not collected as a lump sum at the start.
Key Takeaways
- Acima charges no down payment — you pay your first lease payment when the item arrives, not before.
- Weekly or bi-weekly payments begin when ready after delivery and continue for the lease term, typically 12 to 24 months.
- The total amount you pay over the lease term exceeds the retail price because Acima's profit is built into the payment schedule.
- You can end the lease early by returning the item, though you will not receive a refund of payments already made.
- Acima does not report lease payments to credit bureaus, so the lease does not build credit history.
How Acima's payment structure works instead
When you lease through Acima, you commit to a payment schedule that runs weekly or bi-weekly. The amount of each payment depends on the retail price of the item, the length of the lease term you choose, and Acima's markup. A $500 item might cost you $15 to $20 per week over 24 months, meaning you will pay roughly $780 to $960 total — significantly more than the retail price.
Your first payment is due when the item is delivered to your home or picked up at the store. Subsequent payments follow the schedule you agreed to. If you miss a payment, Acima can repossess the item, and you lose all the money you have already paid toward it. This is why the lease is called a lease-to-own arrangement: you own the item only after you complete all payments or exercise an early purchase option.
Some Acima leases include an option to purchase the item early for a set price, which is typically much lower than the total of all remaining payments. This gives you a way to own the item outright before the full lease term ends, though you still cannot reduce what you have already paid.
What you need to provide instead of a down payment
Because Acima does not collect a down payment, the company uses other methods to assess risk. You will need to provide proof of income, such as recent pay stubs or bank statements showing regular deposits. Acima also checks your bank account to confirm you have enough funds to cover the first payment and to verify your banking history.
The company may ask for a phone number, email address, and identification to verify your identity. Some retailers that partner with Acima may require additional information, such as a driver's license or proof of address. The exact requirements vary depending on the retailer and the item you are leasing.
Acima does not perform a hard credit pull, which means the company does not check your credit score or report to the three major credit bureaus. This makes it possible to lease through Acima even if you have poor credit or no credit history. However, Acima does verify your identity and income to reduce the risk that you will default on payments.
The cost difference between Acima and buying outright
The total amount you pay through Acima is always higher than the item's retail price. This difference — sometimes called the cost of lease — is how Acima generates revenue. For a $400 item on a 24-month weekly payment plan, you might pay $600 to $700 total, meaning the lease itself costs $200 to $300 above retail.
The markup varies based on the item, the retailer, and the payment frequency you choose. Weekly payments typically result in a higher total cost than bi-weekly payments for the same item and lease term, because you are making more frequent payments over the same period. Shorter lease terms also tend to have higher weekly or bi-weekly payments, which increases the total cost.
If you have the cash to buy the item outright, that is almost always cheaper than leasing through Acima. The lease-to-own model is designed for people who do not have the full purchase price available at once and cannot or do not want to use traditional credit.
Early termination and what happens to your payments
If you decide to return the item before the lease term ends, Acima will stop charging you for future payments. However, you do not receive a refund for the payments you have already made. This means if you lease a television for 24 months, make 12 months of payments, and then return it, you lose all the money you paid during those 12 months.
Some Acima leases include an early purchase option that lets you buy the item outright for a set price, usually much lower than the total of all remaining payments. If you exercise this option, you own the item and the lease ends. The price of early purchase is determined when you sign the lease agreement and does not change.
Returning an item is different from defaulting on payments. If you stop paying without returning the item, Acima can repossess it and may pursue collection action against you. Returning the item voluntarily ends your obligation to pay, but you still lose the money you have already spent.
Comparing Acima to other lease-to-own options
Other lease-to-own companies operate similarly to Acima — no down payment, weekly or bi-weekly payments, and a total cost higher than retail. Rent-A-Center, Aaron's, and Aarons are the largest competitors in this space. All of them charge no upfront money and begin payments after delivery or pickup.
The main differences are in payment amounts, lease terms, and which retailers or items they offer. Acima partners with thousands of retailers nationwide, including furniture stores, electronics retailers, and appliance dealers. Rent-A-Center and Aaron's operate their own storefronts, so you lease items directly from them rather than through a retail partner.
If you have access to a credit card or personal loan, those options are usually cheaper than lease-to-own, even if you have fair or poor credit. A personal loan from a bank or credit union typically charges less total interest than Acima charges in markup over a lease term. Credit cards charge interest only on the balance you carry, so if you pay off the purchase quickly, the total cost is lower.
Frequently Asked Questions
Do I need a credit card to lease through Acima?
No. Acima does not require a credit card or credit history. The company verifies your income and bank account instead. You can lease through Acima even if you have no credit or poor credit, as long as you can show proof of regular income and have an active bank account.
What happens if I miss a payment?
Acima can repossess the item if you miss a payment. Once the item is repossessed, you lose all the money you have paid toward it and owe nothing further. However, repeated missed payments may result in collection action or a report to a collection agency, which can affect your ability to lease or borrow in the future.
Can I own the item before the lease ends?
Yes, if your lease includes an early purchase option. This option lets you buy the item outright for a set price, which is typically much lower than the total of all remaining payments. The early purchase price is set when you sign the lease and does not change. Not all Acima leases include this option, so check your agreement.
Does leasing through Acima build my credit?
No. Acima does not report lease payments to credit bureaus, so making on-time payments does not build your credit history. The lease is separate from your credit file. If you default and the account goes to a collection agency, that may appear on your credit report and harm your score.
What items can I lease through Acima?
Acima partners with retailers that sell furniture, appliances, electronics, computers, and other goods. You cannot lease through Acima directly — you must go through a participating retailer. The items available depend on which retailers are in your area and which products they stock.