When you need home goods and appliances but can’t pay all cash upfront, rent-to-own stores like Conn’s and Rent-A-Center allow you to take items home right away with affordable monthly payments.
But these two major national rent-to-own chains have some distinct differences in their offerings, payment plans and customer experiences.
This comprehensive guide examines the key features, pros, cons and frequently asked questions about Conn’s and Rent-A-Center to help consumers choose the best rent-to-own option for their needs.
A Brief Comparison Table
| Feature | Conn’s | Rent-A-Center |
| Merchandise | Furniture, major appliances, mattresses, electronics, computers | Furniture, appliances, electronics, computers, wheels |
| Locations | 150+ locations, concentrated in southern U.S. | 2,000+ locations nationwide |
| Credit Options | In-house financing, personalized plans | No credit check basic plans |
| Ownership | Own items after final payment | Must return items if payments stop |
| Added Services | Branded credit card, layaway, repair service | Swap program to exchange goods |
Overview of Conn’s
Founded in 1890 and headquartered in Texas, Conn’s is one of the largest rent-to-own retailers in the country focused on furniture, mattresses, appliances and consumer electronics. Conn’s touts affordable payment plans, flexible credit options and excellent customer service.
Some notable things about Conn’s:
- Items can be paid off over 12-24 months through weekly, bi-weekly or monthly payments.
- In-house credit programs available for those with less than perfect credit. No credit needed on select plans.
- Payment plans can end up costing 2-3x the retail price of items.
- Items become consumer’s property after final payment. No need to return.
- Branded credit card and layaway programs offered. 90 days same as cash on card purchases.
- Repair service provided on products during rental period.
Overview of Rent-A-Center
Headquartered in Texas, Rent-A-Center pioneered the rent-to-own concept in 1986. With over 2,000 locations, Rent-A-Center focuses on durable goods like furniture, appliances, electronics and computers. They market an easy application process, flexible payments and option to return items.
Here’s a quick rundown of Rent-A-Center’s model:
- Items rented week-to-week, bi-weekly or monthly until paid off, typically over 12-24 months.
- No credit check required for most basic payment plans. More flexible options available with credit check.
- Total cost over payment term is 2-3x the retail cost.
- Goods remain property of Rent-A-Center until final payment. Must be returned if stopping payments.
- Rent-A-Center financial services card available. Discounts for early payoffs.
- Swap program allows exchanges for different goods after 50% of payments.
Also Read: Comparison Between Conn’s And Aaron’s
Key Differences Between Conn’s and Rent-A-Center
With the basics of each company covered, let’s directly compare some major differences between the Conn’s and Rent-A-Center rent-to-own experiences:
- Merchandise Selection
Conn’s offers furniture, mattresses, major appliances, consumer electronics and computers. Rent-A-Center carries furniture, appliances, electronics, computers and wheels like tires and rims. Both focus on durable goods but Conn’s selection includes more big ticket items.
- Credit and Payments
Conn’s provides personalized in-house credit programs while Rent-A-Center pushes basic no credit needed plans. But Rent-A-Center offers more flexibility to change plans with a credit check later. Early payoffs incur fees at Conn’s but earn discounts at RAC.
- Ownership
Conn’s customers own the goods after the final payment. Rent-A-Center items must be returned if payments stop before full term. Conn’s customers end up with the goods in the end which many see as a pro.
- Added Services
Notable extras at Conn’s include a branded credit card, layaway program and included repair service during rental period. Rent-A-Center provides an in-house card but focuses more on the swap program for exchanges.
- Locations
Conn’s has over 150 locations largely concentrated in the southern U.S. Rent-A-Center has over 2,000 locations nationwide, providing more access for many customers.
Pros of Conn’s
What makes Conn’s a top choice over competitors for some rent-to-own customers?
- Wide selection of furniture, major appliances, mattresses, electronics and computers to furnish an entire home.
- In-house credit programs personalized to customer’s situation, including no credit needed options.
- Added perks like layaway, branded card with 90 days same as cash and repair service provide value.
- Customers own the items at the end with no need to return goods or keep leasing.
- Regional warehouse model allows stores to quickly deliver furniture, appliances and other large items.
- Prices potentially lower than other rent-to-own companies.
- Items can be paid off early to reduce total cost. Allows paying as able.
Cons of Conn’s
There are also some potential drawbacks to consider with Conn’s:
- Conn’s locations concentrated in the southern U.S. Limited accessibility for renters elsewhere.
- Total cost over lengthy payment terms ends up 2-3x the retail prices.
- Early payoffs result in hefty fees which discourages early repayment.
- Light delivery and setup fees can be expensive, especially for major appliances and furniture.
- Lower quality and off-brand items compared to big box appliance and furniture retailers.
- Reports of accounts being sent to collections over non-payment. Can negatively impact credit.
- Some complaints about pushy sales tactics encouraging overspending on unnecessary items or upgrades.
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Pros of Rent-A-Center
Why might customers choose Rent-A-Center for their rent-to-own needs?
- Over 2,000 locations nationwide provide convenience, accessibility, and ability to return items locally.
- Flexible options to change plans and payment terms later with credit check, if desired.
- Discounts offered for early payoffs which encourages quicker repayment.
- No credit needed for basic plans makes it easy to get approved.
- Swap program allows exchanging goods for something else after 50% of payments. Helpful for changing needs.
- Wide assortment of name brand furniture, appliances, electronics, computers and wheels.
- Advertises transparent pricing with no hidden fees. Low weekly payments appeal to limited budgets.
Cons of Rent-A-Center
Here are some of the downsides of renting from Rent-A-Center:
- All items must be returned if payments stop before full term. Don’t own until final payment.
- Total price over long term payment plans end up 2-3x retail costs.
- More affordable plans require no credit check but less flexibility.
- Limited to in-store branded credit card. No major credit card financing options.
- Doesn’t offer addons like layaway or repair service. Just the basic rent-to-own.
- Lower quality furnishings and appliances compared to big box and online retailers.
- Complaints of pushy sales tactics to upsell extra items and overpriced service plans.
- No option for home delivery and setup. Requires customer transportation and assembly.
Also Read: Comparison Between Cintas And Unifast
Frequently Asked Questions (FAQs)
Who does Conn’s use for financing?
Conn’s offers proprietary in-house financing through CNAC, a subsidiary company. This allows them to cater plans to consumers that may not qualify for traditional outside financing. Conn’s also offers a branded credit card through Synchrony Bank that can be used to make purchases.
Does Conn’s run your credit?
Conn’s will run a soft credit check for their basic no-credit-needed plans to review identity, fraud alerts and collection actions. Their personalized credit programs run a hard credit check to determine rates. Using the Conn’s credit card requires a hard credit inquiry as well.
Can you pay off Conn’s early?
Yes, Conn’s allows customers to pay off items early to own them faster. However, an early payoff fee equal to 1.5 months of payments will be charged. This fee is waived if over 90% of payments have already been made. Paying off early does reduce total costs by avoiding further payments.
Does Conn’s have layaway?
Yes, Conn’s offers a traditional layaway program. Customers can put items on layaway by making a down payment of 10-30% of the total cost, then paying off the balance through installments over 90 days. Once paid in full, items can be picked up or delivered. A layaway cancellation fee applies if cancelling after 72 hours.
Also Read: Is Aaron’s Better Than Rent-A-Center?
The Bottom Line
In the competitive rent-to-own industry, Conn’s and Rent-A-Center are two strong options with national footprints. Conn’s edges ahead for some consumers with their in-house financing offers, larger product selection, bundled services, ownership of goods and regional delivery capabilities.
Rent-A-Center appeals to others with their unparalleled store accessibility, flexible no credit plans, discounts for early repayment and innovative swap program.
For renters looking to furnish their home affordably without large upfront costs, taking the time to research regional chains like Conn’s and national giants like Rent-A-Center can lead to significant savings and a positive rental experience overall.
Understanding their key differences allows customers to confidently choose the rent-to-own company that best fits their budget and needs.
