Complaint Review: Aarons Sales And Lease Ownership - Aarons Rental - wenatchee Washington

1st off you are not entitled to any refund whatsoever. You signed an agreement to purchase the merchandise over a set term of months, with the option to exercise an early buyout within 90 days of the date of purchase for the cash price listed. This should have been explained to you by either the store general manager or customer accounts manager when you signed your LEASE AGREEMENT. If not shame on you for FAILING to read the document before executing it by signing it.

Note the 2 sections on the 1st page of the agreement the cash price and below that the total of scheduled payments, ( both of which are in bold print ) Notice the two differing amounts, the 1st ( lower ) is the price minus applicable sales tax for the item if paid in the 90 day same as cash period. The 2nd ( higher ) is the price that you would pay if you made monthly payments over 12,18, or 24 months on the item.

If you intended to purchase the item at the 90 day same as cash price you should have done something as the example below:
sofa, seat, and chair $1599.00 cash price add tax for this example we'll go with 10% ($159.90)
Total with tax 1758.90 then divide that amount over 3 payments ( 90 Days ) Which would make 3 monthly payments of $586.30 or if paid bi weekly $293.15 over the 90 day period. By following this process you would have met the 90 day same as cash payoff and had been done with the agreement and owned the merchandise.

It appears that you have been paying appx $116.00 per month over the 3 months of this agreement which I suspect is something like 109.99 + tax where you live, Which would be the scheduled monthly payment for a customer paying over the 12,18, or 24 month term. Obviously a company can't stay in business allowing people to purchase items at cash prices over terms such as this as their overhead expenses would drive even Bill Gates out of business. Compare the total of payments against the cash price and you will see that even if you go full term the amount of fees paid to lease are far less than what you would spend in interest if you financed the same purchase on a credit card.

Please educate yourself in the future before entering any type of purchase agreement by reading the entire document, and asking any questions you have before executing such document. I bring your attention to the bottom of any rental or lease purchase agreement in the case of Aaron's the print in the largest font in bold at the bottom of the page as it reads:
                                             
Notice to lessee - read before signing
1. Do not sign this agreement before you read the entire agreement, including all writing which appears below your signature, or on additional pages, even if otherwise advised.

Just a little snippet from a lease agreement for reference. I'm sorry that you misunderstood the agreement. From the time I spent working for Aaron's I was rather pleased in the ways that the company bent over backwards to help customers. I have since left employment there but have nothing bad to say about the company. I have worked for others in the rent to own business and can say that Aaron's is completely upfront with their customers as it pertains to their lease agreements and if the customer reads the document there is no confusion. To clarify why the associate that helped you couldn't locate the other payoff information it is because you were still within the 90 day same as cash period and that is what is displayed as the early payout price on the computer. To figure the remaining balance ( if interested ) take the total purchase price ( bottom price ) and subtract the payments made so far and you would have the remaining balance, just add your local sales tax if applicable.