Whether customers are just browsing or shopping, or they know exactly what they want, one of the biggest things that holds them back from following through on a transaction — in the short term or long term — is the price tag. In many cases, customers may consider leasing the item in question. In these instances, they may be stopped by any number of concerns or potential “headaches,” including confusion over the complexity of leasing options, frustrations with how long it takes to apply, or concerns over the consequences to their credit rating.

As a retailer whose main goal is to get more of these customers to make a transaction, you have an opportunity to offer customers a better payment solution: Acima leasing. In fact, this alternative to financing can increase a customer’s average order size by 15%. (1)

Lease to Own

As part of our lease-to-own program, Acima will buy the eligible product selected by a customer from you and will lease it to the customer. Once a lease begins, the customer has three options. First, they can acquire ownership of the item by making the number of lease renewal payments disclosed in their agreement. Second, at any time during the lease they can exercise an early purchase option and purchase the item at a discount to the total cost of the lease. The earlier this decision is made, the larger the discount. And third, if the lease no longer fits within their budget, they can make the decision to return the item to us in good condition and have no further payment obligation.

Importance for Customers

For your customers, both current and prospective, being able to offer this type of alternative to financing helps them get what they need, when they need it — without using credit or having to potentially dish out large amounts of cash to take home an item. For those who are credit- or cash-strapped, Acima’s lease-purchase agreements provide another way to transact, putting the shopping power back in their hands. This is great news for you and your business.

Importance for Merchants

Offering in-house customer leasing creates an easy way for customers to take their product home that same day. This simple addition to your operation helps to boost sales, improve loyalty and build repeat customers. Why? Because about 1 in 5 American adults either have no credit history or are unscorable.(2) Acima considers multiple data points in reviewing customer applications and regularly approves customers with less than perfect credit history. Rather than turning these potential shoppers away, Acima’s point-of-sale leasing solutions provide an opportunity to convert them into repeat customers.

Customer leasing also helps potential customers make a purchase by allowing them to enroll in a variety of payment plans. Having this option available in-house means you can keep customers in your store and give them an easy, seamless experience instead of sending them to a bank or having them come back with pre-approval from an outside financing company. It’s simply easier for everyone!

Get More Customers Qualified for Immediate Shopping Power: Here’s How

There are four simple steps to help a customer get qualified for Acima’s alternative to financing:

1. Educate customers about available lease-to-own options offered through your business.

Our branded signage and brochures let customers know how Acima works, informing them of the benefits of lease-to-own and how they can take home the item(s) they need that same day with a lease-purchase agreement. We’ll also let them know about our fast and easy approvals, tailored payment schedules and early purchase option incentives. You can also let them know that they can also shop online — either through the Acima app or on the Acima MarketPlace.

2. Help them apply while they’re in your store.

Even though the customer won’t apply through you directly, you can show them how to use their smartphone to apply and get an instant decision. If they’re approved, they’ll know exactly how much they’ve been approved for — somewhere between $300 and $4,000. From there, you can continue to assist them in their shopping experience.

3. Close the sale!

Now that the customer has been approved for a lease-purchase agreement, they can get their desired product — and you can help them through the sales process, being sure to answer any questions they have along the way.

4. The customer takes their product home and makes payments to Acima.

Once the customer leaves your store with their product, there’s nothing else you have to worry about! The customer makes payments to Acima Leasing, and if they have any questions about the terms of their lease, Acima’s customer service team will provide the support they need.

That’s Not All!

Acima doesn’t just stop there. The best part? Once customers have completed a lease, we’ll re-market to them, on your behalf, encouraging them to return to your store to make another lease! Learn more about working with Acima by visiting our website, and read how other merchants are making a difference by offering Acima to their customers.

“In the first five months of using Acima, we’ve done close to $10,000 in extra sales.” — Jack Surface, Owner of Midas Automotive

“It’s helping our revenue and helping bring customers back in.” — Adrian Salgado, Owner of Roadshow Tires

“We’re now making sales and additional revenue in an important area that we couldn’t serve before.” — Brian Aaron, VP and COO of Woodstock Furniture Outlet