How Does Aaron’s Compare to Rent-A-Center?
Aaron’s and Rent-A-Center are very comparable when it comes to contract terms and flexible payment plans. The prices are also fairly similar, although it is worth checking both stores for the best price.
Aaron’s and Rent-A-Center are the two largest rent-to-own businesses in the United States, and the companies compete fairly evenly. In 2010, Rent-A-Center sued Aaron’s for misleading advertising that provided incorrect information about Rent-A-Center’s policies. For example, both stores provide free set-up and delivery, but some older Aaron’s advertisements implied that Rent-A-Center did not.
Both companies offer contracts of varying lengths, flexible payment terms and other convenient benefits. Aaron’s has a two-year warranty on its products, whereas Rent-A-Center offers a warranty for the duration of the rental agreement. Both allow customers to pay off the items early if they choose. Both have also been implicated in strong and sometimes illegal collection practices regarding customers who fall behind on payments.
Consumer advocacy groups do not recommend renting from either store. The cash prices are often higher to begin with when compared to the prices at other retailers. By the time customer pays off the item, he may have paid up to double the purchase price. This is a higher interest rate than even the highest credit card. People considering rent-to-own programs are probably better off getting a credit card or waiting and saving until they can purchase the item outright.