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Acima Lease-to-Own Financing Review

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Acima offers a lease-to-own financing program. If approved, shoppers can lease goods, such as furniture, appliances and tools, and make payments on their purchase over 12 months. The lender partners with a variety of merchants to offer financing in store, on mobile and through its website.

Acima doesn’t take your credit score into account when determining your eligibility for credit. Instead, it’ll consider factors like your income and checking account activity. That makes this company a decent option for bad credit borrowers.

Learn more about Acima’s financing option in this review:

Acima lease-to-own financing highlights

  • Good for bad credit borrowers: Acima doesn’t make lending decisions based on your credit score. They care more about your ability to repay and demonstrate this by considering factors such as your income and bank account deposits.
  • Credit decisions made instantly: Prospective borrowers will know if they’ve been approved moments after completing their application.
  • Borrowers choose their repayment schedule: Acima can take payments weekly, biweekly, twice monthly or monthly to coincide with the borrower’s pay dates.
  • Borrowers save money by paying off their debt early: If borrowers pay off their debt within 90 days, they’ll only have to pay the original balance, plus a $10 fee. If they pay it off after 90 days but before 12 months, they’ll save about 25% of the outstanding balance at the time of payoff.
  • Payments reported to Experian: Those who borrow with Acima may improve their credit with one of the major credit bureaus.

Acima at a glance

  • APR range: From 0.00%
  • Minimum credit score: 0
  • Terms: 12 months
  • Origination fee: Not specified

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Terms Fees and penalties
  • Terms: 12 months
  • APR: From 0.00%
  • Loan amounts: $500 – $5,000
  • Time to funding: Instantly
  • Credit check: Soft Pull
  • Origination fee: Not specified
  • Prepayment fee: $10 to pay off principal within 90 days
  • Late payment fee: Not specified
  • Other fees: Not specified

Eligibility requirements

  • Minimum credit score: 0.
  • Minimum credit history: Not specified.
  • Maximum debt-to-income ratio: Not specified.

In order to be a good candidate for Acima financing, borrowers must fulfill the following:

  • Be at least 18 years old
  • Possess both a government-issued photo ID as well as a valid Social Security number (SSN) or individual taxpayer identification number (ITIN)
  • Demonstrate a stable income, with at least 3 months of earnings history from the same employer or income source
  • Have at least $1,000 in monthly income
  • Have maintained a valid checking account for at least 90 days
  • Have stable checking account activity, free from excessive overdrafts, negative balances and instances of non sufficient funds (NSF)

Applying for financing through Acima

Acima doesn’t provide a lot of details about the application process on their website. However, they do indicate that it’s an easy process that results in an instant lending decision. Prospective borrowers can apply online, via a mobile application or in store at a participating merchant’s location.

Pros Cons
  • Bad credit is OK: Borrowers with a poor credit score can still get financing through Acima.
  • Instant lending decision: Borrowers will know right away if they’ve been approved.
  • Flexible repayment terms: Borrowers can repay Acima in alignment with their pay schedule over 12 months.
  • Early payoff incentives: Borrowers can save big by paying off their obligation early, though they may incur a fee.
  • Low lending limits: Borrowers can only get up to $5,000.
  • Restrictive use of funds: Borrowers can only use funds at participating merchants.
  • Can be costly to borrow: If borrowers take the full 12 months to pay off the loan, it will cost them twice the original borrowed amount.

Who’s the best fit for Acima financing?

Acima’s lease-to-own program could be a great solution for those with:

  • A poor or mediocre credit score
  • A solid, dependable income
  • A need to buy items offered by one of the lender’s merchant partners
  • The ability to pay the loan off early

By going this route, borrowers can secure their goods quickly and easily, make payments on a schedule that works for them and establish or rebuild their credit.

Take note, however, that borrowing from Acima can be costly as those who take the full 12 months to repay their loan will ultimately shell out twice the amount of the original purchase.  Borrowers with decent credit and who need an extended period of time to repay their loan, may want to look at other financing options to save money.

Alternative borrowing options


  • APR: From 0.00%
  • Minimum credit score: 0
  • Terms: Borrower’s pay period
  • Origination fee: None

Earnin is an app that allows users to get an advance on their upcoming paycheck (up to $100 per day). The app automatically withdraws the borrowed amount on your next payday. Unlike a traditional payday loan, users choose what they pay for the service (even $0).

While the amount of funding available is limited and the repayment timeline is tight, Earnin users can minimize their cost of borrowing when they absolutely need to make a purchase or handle another financial expense.


  • APR: 4.37% – 35.99%
  • Minimum credit score: 600
  • Terms: 36 or 60 months
  • Origination fee: 0.00% - 8.00%

Like Acima, Upstart believes that people are more than just their credit scores. As such, they consider a prospective borrower’s education and work experience when making lending decisions. Borrowers with marginal or limited credit history can get up to $50,000 within 1 business day of loan approval. While the loan may be subject to an origination fee, there are no penalties for paying off the note early.


  • APR: 9.95% – 35.99%
  • Minimum credit score: 600
  • Terms: 24 to 60 months
  • Origination fee: Up to 4.75%

An Avant personal loan could make sense for borrowers who need up to $35,000 and have credit scores in the 600-700 range. With an easy and fast online application process and approved funds disbursement in as little as 1 business day, the lender provides customers with an efficient loan experience. Borrowers will also benefit from an attentive customer service team that’s ready to assist them 7 days a week.


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