Acceptance Now RAC Acceptance Excessive "finance" charges... San Antonio Texas

 My wife and I decided to buy new living room furniture from Rooms to Go in San Antonio after we remodeled our living room. We chose Rooms To Go because we were on a budget and they happened to be near where we were shopping for the day anyway. We walked in and found a really nice full living room set on clearance because it was a floor model. We liked the price and decided to purchase the set.

We initially wanted to get financed through Rooms To Go to try and build our credit further. We had been paying our bills on time for quite a while now and figured we should be ok to finance. We were denied by Rooms To Go, but strongly urged to go through Acceptance Now located in the store. I assume because they either get a kick back for recommending customers to them or they just wanted to get the floor model out of the store. Or maybe it was both. I have dealt with Rent A Center before and I knew that this was a subsidiary of RAC. I have had pleasant dealings in the past with RAC without getting my eyes poked out too badly and figured we would be ok this time as well.

The furniture was $2700. We figured we would pay off the furniture within a year and save some money. Things didn't work out that way and here we are 22 months later into a 36 month contract. Our payments are $286 a month. To date, we have paid a little over $6,000 for the furniture and we still owe a payoff amount of just over $1700. That means we have only paid $1,000 towards the principle of our furniture. That is $45 a month out of $286.

I called the Acceptance Now store that our account is with and the lady was nice enough, and proceeded to tell me that the principle is VERY slow to pay down. I wish someone had reiterated that when we went to sign. But that is foolish of me to think because this country is motivated by suckers and money.

I agreed to the contract. I signed the contract. I am not going to pretend to be one of those consumers who "Was not aware" of the finance charges. I am simply putting my story out there to warn others of the money that you will throw away when dealing with this company. They are making over $5,000 on our contract. Think of the others out there that they are making a ton of money on.

I REFUSE to deal with Acceptance Now EVER again. I learned my lesson the hard way. Please do not make the same mistake we did. Save your money for 4-6 months and pay cash for whatever you want. Avoid this company like the plague!