• Report: #1096961
Complaint Review:

RAC Acceptance

  • Submitted: Mon, November 04, 2013
  • Updated: Mon, November 04, 2013

  • Reported By: Gertrude — Elgin Illinois
RAC Acceptance
2451 south Randall Road Algonquin, Illinois USA

RAC Acceptance Rent-A-Center Liars, and carpet baggars ! Algonquin Illinois

*Consumer Comment: After all if he knows the total cost and apparently how many payments it would be fairly simple to figure out the breakdown.

*Consumer Comment: Follow-up Response

*Consumer Comment: Similar Problem

*Consumer Comment: Well it is after Friday

*Consumer Comment: Researched and Called.

*Author of original report: Rip offs

*Author of original report: Nothings Wrong with this report

*Consumer Comment: There are a few things missing..

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I have always been on my game when making purchses. I believe I work hard for my money and I want What I paid out. In April I went to Ashley Furiniture to purchase a reycliner for a late Birthday gift for my husband. I saw they had a buy one get one sale. While waiting at the counter I was approached by RAC. We talked for a few mintues and I asked him to cut to the chase.

I wanted to know if buying from RAC was just like buying from ASHLEY! he stated " yes" nothing is different. So I thought wow, What a great way to get what I want and be able to take the hubby out for a belated birthday dinner. All the time I keep asking are you sure this is not " Rent-A Center Rental" No, No, was his response. 

I made a sign up payment of $160.00 which included deleivery. The chairs were buy one get one free for $399.00 ( 400). So we got the chairs I make two payment and I want to pay them off. 

I WAS IN SHOCK! the payment never moved only by a few dollars of course I called everyone including corprate which it took four days to finally talk to someone. Only to find out! Yes! Renta-A-Center had got me. Okay I was fine with it. Now, I have made three payments of $125.00 per month three days ago I go to the store...

Just two weeka ago I was told on a tuesday may Job would be closed on Friday. I fax over all the information. I get to the store and deceide to just pay it off. Only to find out my payment is still $398.67!!!!!. I demanded to know how. I was given a print out and according to the print out my payment should be down to $200 by now. 

I could go on about the extra insurance incase I lost my job, which now they want me to jump through whoops to prove. I could talk about how thier instore employees have no clue of whats going on. 

I missed my last payment, thinking the insurance I purchased would help cover nope! So come tomorrow morning I'll be on the phone, and emailing any one who will list. From the Better Business, RAC Corporate, to the local media. RAC You gotta stop this really. 

Before,you make a cmmitt about not have good credit I do, now it becomes a issue of fighting for those we can't. I like a good fight and I'm just now rolling up my shleves.  I'll be talking to RAC hopefully in the morning or emailing channels 2, 5,7,9 .....

Come on, who could resit a story like this right before the hoilday with many consumers already hit hard. 


Elgin, Illinois

This report was posted on Ripoff Report on 11/04/2013 07:57 PM and is a permanent record located here: http://www.ripoffreport.com/reports/rac-acceptance/algonquin-illinois-60120/rac-acceptance-rent-a-center-liars-and-carpet-baggars-algonquin-illinois-1096961. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

After all if he knows the total cost and apparently how many payments it would be fairly simple to figure out the breakdown.

AUTHOR: Inspector Gadget - ()

This Person also said:

After all if he knows the total cost and apparently how many payments it would be fairly simple to figure out the breakdown.

My Response:

I guess you have not heard it is always best to get it from the horses mouth as well! That way you exactly know what you getting into. By them not telling me....that is an issue....RED FLAG

Why can't the company tell me over the phone? Why do I have to come in to get that information? Why do I got to wait until I make 4 payments for the buyout information be disclosed?


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#2 Consumer Comment

Follow-up Response

AUTHOR: Inspector Gadget - ()

To the individual whom said I "called"....when I made the call I already had questions ready for the Representative....

TigerDirect (RAC  Acceptance)                                                                   

Hoffman Estates, IL

Date Called: 11/07/2013 @ 1155

 What documentation is required in order to be approved with your company?

  • Identification
  • 4 References
    • 2 Family – Not living with you
    • 2 Friends
  • Most recent paystubs
  • Lease if you are living in an apartment/home; documentation of proof of ownership of your home.
  • All information will be verified.

 What will be the initial down payment?

  • Depends on the due date (1st or 15th). The initial down payment will carry you over to the next months due date.

 What will be the down payment on the item of I’m interested in with a due date on the 15th?

  • $184.00

I read online that a minimum of four payments are required so that it can be reported to the credit bureaus…..Is that correct?

  • Correct. This is a CREDIT BUILDING PROGRAM so a minimum of 4 payments is required. RAC is not like our parent company Rent-A-Center where there is a 90-day pay off option. All will be explained in the store once you come in to sign the contract (which explain the terms) and get the item.

Are there any finance/interest charges?

  • No.

 Are the leasing fees a way around finance/interest charges in order to GAIN PROFIT off the transaction?

  • Leasing fees are charged since you are leasing to own the item through the RAC Lease to Own Program. Included in the fees are Damage and Liability protection (including but not limited to theft, EQ, Flood, Wind Storm, employment loss protection)

 After the 4th payment, I can pay off the item, correct?

  • Correct. Since there are LEASING FEES, part of the MONTHLY PAYMENT will go towards the LEASING FEE and part will go to the PRINCIPAL.

Break down the payment schedule if I wanted to pay off the item in the following number of months (6 and 8 months)

  • RAC will provide a schedule of payoff amounts after 4 payments have been made on the item.

So from there I made my own assumption based off of looking at their parent company (Rent-A-Center website) that final price of the merchandise that you get from RAC Acceptance will be THREE TIMES the amount that it is in the store. The "leasing fees" is where they make their money.

After looking online for RAC competitors, I found a company called Why Not Lease It (www.whynotleaseit.com). They provided an example of an item, monthly terms and etc. which for me validated you will be paying almost TRIPLE after all is said and done.

If a person a credit challenged and really need an item that bad....I say work OT, Get a second job, or Lay a way (a lot of stores jumped on board since WalMart only does lay a way from September to December) That way you won't have to deal with these companies.

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#3 Consumer Comment

Similar Problem

AUTHOR: sbtraumatized - ()

I completely understand what you are dealing with. They were not honest with me as well. I thought I was purchasing furniture, not leasing or renting. I posted a report only to be attacked. I believe RAC employees watch for bad reports and try to tear consumers down. Their business practices are dishonest and predatory. Read my report to see how I was treated by this company. Good luck to you and don't let these negative comments get to you. The truth is no one ever has anything good to say about Rent A Center that's why they are dba RAC Acceptance to hide their identity.

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#4 Consumer Comment

Well it is after Friday

AUTHOR: Robert - ()

 So where are all of the documents you were going to post?

First back on your report.  In your original report you stated you went in April to purchase the chair, then in your update it all of the sudden became June.  Was that just an honest mistake or did you all of the sudden change the month to account for missing payments?

Next, and this is also refering to the other post by the person who "called" them.  They brought up a very good point.  When you signed up for this you obviously got an agreement with the terms. So what did the terms say?  Did they do things that were not in the terms?

Also this other person seems to think it is a "bad" thing that most of your payment goes to the interest/fees rather than the principal.  Well bad or not it is standard when you are borrowing money, especially if you are a "high risk" debtor.  So obviously they have never looked at other credit cards because if you only pay the minimum payment on those they work exactly the same way. 

We then have that person trying to say that because they didn't give them the exact amount that was going to principal and interest there is some "red flag".  Well, if it was such a red flag that they had no idea what this principal/interest breakdown is.  Why just a few sentences later did they determine that they would be paying 3 times the original amount of the item?  After all if he knows the total cost and apparently how many payments it would be fairly simple to figure out the breakdown.

Now, the one thing that may be helped by posting.  Is it would show the terms you agreed to, it would show the original amount you financed, it would also show the dates you made the payments.  Perhaps you made a couple of those payments late.

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#5 Consumer Comment

Researched and Called.

AUTHOR: Inspector Gadget - ()

So I did a little digging of mine own. Rent A Center is the Parent company of RAC Acceptance. They have different terms than Rent A Center. So here it goes (excuse my typing)

There are a minimum of 4 payments required no matter what because they do report this to the credit bureau since they are also a "credit building" program. There is NO 90 pay off option like Rent A Center. 

Are there finance/interest charges.....No but there are Leasing Fees associated with the item that you are getting from them. The fees include but are not limited to insurance for the item (theft, flood, EQ, wind storm, employment loss that pays 4 months and etc)

Initial down payment will depend on if you decide to make your monthly payment either on the 1st or the 15th.

Now the leasing fees from what I read on here....a majority of the payment goes towards that and a smaller amount goes toward the prinicpal. I inquired about an item and they would not tell me how much would go towards what. RED FLAG!! But they said they would provide a payoff schedule at the time of signing the contract.

In all your are being ripped off!! Based on the item I inquired about, after all was said and done...the final payment amount would be triple the original amount of the item.


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#6 Author of original report

Rip offs

AUTHOR: Gertrude - ()

RAC has is not a finance company so i have been told, the Chairs were purchased the last week of June and were not delievered until the 2nd week of July because they sold out due to the sale and we had to wait. I put down $160.00 for a sign up payment and delievey. In the month of July I made a payment, August payment,September payment. October was the only payment I missed. You can say what ever you want! I will be scanning my actul sign up payment, and each payment there after to this artical before Friday. So you can see. 

I might not be explaning it right but my paper work will!

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#7 Author of original report

Nothings Wrong with this report

AUTHOR: Gertrude - ()

I made every single payment but, one I did pay september, and from the other rip off reports I have read I will be paying octobers even though it will be two weeks late. When I asked if purchasing the chairs was just like puchasing for Ahsley and was told yes only to find it it was not ! I wanted to hurry up and pay them off. I have never missed a payment and that's why I want to know why the chairs are still costing me so much! Making a long story short! I'll be paying off the chairs on this friday the whole $398.00 not to mention the $40.00 they had on whole for ovber payment which some how ended up making the payment a good old only $398.57. Because I don't want to deal with RAC. However it won't stop me from calling the newspapers, and anyone else who will isten. 

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#8 Consumer Comment

There are a few things missing..

AUTHOR: Robert - ()

First of all how much did you finance when you got chairs?  There is the price of the chairs($400), but there is also Tax, Delivery, any "extras" such as fabric protection.

This was back in April, you put $160 down and made 3 monthly payments that puts you into July.  So now, you go 2 weeks ago(October) and your balance is $398.  Do you see a problem yet?

Well just in case you don't.  You have one admited missing payment that would put you into August.  So what happened in September and October?  Seems like there is more to this story than you are saying.


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