How Does Aaron's Rent to Own Work?

The Aaron's Lease Plus program, as of April 2015, allows consumers to choose leasing terms of 12, 18 or 24 months, and they can pay monthly or twice a month. Once the item is paid off as agreed, or paid off early, the consumer owns the item.

The Aaron's website points out that the quicker a consumer pays off a lease balance, the more money he saves. The company does not assess end-of-lease balances, and the lease goes toward boosting credit scores as long as payments are made as agreed. Consumers get to take the item home with their first payment, and delivery, assembly and setup come with the program. So does product servicing and repair.

Aaron's says that consumers can return their item or items for any reason after a minimum lease period has passed, and customers know up front the specific number of payments they need to make before they fully own the item. They also get information on the entire cost of ownership, which includes interest charges. Consumers can also use an early-purchase option if they get the money to buy an item outright before the lease is up. Items are new unless otherwise stated.

The company does not require established credit history but reserves the right to check creditworthiness. Lease requirements include a verified income stream and three references.