Acima Leasing Ashley Furniture

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Post on Feb 22, 2025

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Above Leasing Ashley Furniture: A Comprehensive Guide

Are you considering financing your Ashley Furniture purchase through Above Leasing? Understanding the terms and conditions is crucial before committing. This guide provides a comprehensive overview of Above Leasing and its partnership with Ashley Furniture, helping you make an informed decision.

What is Above Leasing?

Above Leasing is a rent-to-own company that partners with various retailers, including Ashley Furniture. They offer a flexible payment option for consumers who may not qualify for traditional financing or prefer a different payment structure. Instead of a traditional loan, Above Leasing structures the agreement as a lease-to-own contract. This means you're essentially renting the furniture with the option to purchase it outright at the end of the lease term.

Key features to consider with Above Leasing:

• Lease-to-own: You're renting the furniture, with an option to buy it at the end. The purchase price is often higher than the retail price, encompassing the rental fees.
• Payment flexibility: Above Leasing might offer more flexible payment options than traditional financing, making it attractive to those with less-than-perfect credit. However, always carefully examine the monthly payments.
• Potential for higher overall cost: The total cost of ownership through a lease-to-own program will usually be more than purchasing the furniture outright. This is due to the built-in rental fees.
• Credit impact: While it might seem beneficial for those with poor credit, late or missed payments can negatively impact your credit score.

Above Leasing and Ashley Furniture: How it Works

Above Leasing allows you to finance your Ashley Furniture purchases through their lease-to-own program. This means you can furnish your home with Ashley's wide selection of furniture without needing immediate full payment. However, be aware of the total cost. The final purchase price will usually exceed the retail price shown at Ashley Furniture.

Steps typically involved:

1. Choose your Ashley Furniture: Select your desired items from Ashley Furniture's extensive catalog.
2. Apply through Above Leasing: Apply for financing through Above Leasing at the Ashley Furniture store or online. You'll need to provide personal and financial information.
3. Approval and Agreement: If approved, you'll sign a lease-to-own agreement outlining the payment terms, purchase option, and other conditions.
4. Delivery and Payments: Your Ashley Furniture will be delivered, and you'll begin making regular lease payments.
5. Purchase Option: At the end of the lease term, you have the option to purchase the furniture for the pre-determined price.

Alternatives to Above Leasing for Ashley Furniture Financing

Before committing to Above Leasing, explore alternative financing options:

• Ashley Furniture's in-house financing: Ashley Furniture itself may offer financing plans with potentially more favorable terms than Above Leasing. Inquire directly with the store.
• Credit cards: If you have a good credit score, using a credit card with a 0% APR introductory period can be a cost-effective way to finance your purchase.
• Personal loans: Banks and credit unions offer personal loans that can be used to purchase furniture. These often come with lower interest rates compared to rent-to-own options.
• Saving up: The most financially sound option is to save up and pay cash for your Ashley Furniture. This avoids interest and extra fees.

Comparing Costs: Above Leasing vs. Other Options

Carefully compare the total cost of Above Leasing with other financing options. Consider the following:

• Monthly payments: Compare the monthly payments for Above Leasing with those from other financing methods.
• Total cost: Calculate the total amount you'll pay over the life of the agreement for Above Leasing and compare it to the total cost of purchasing the furniture outright or using another financing option.
• Interest rates (or equivalent fees): If using a traditional loan or credit card, determine the interest rate. For Above Leasing, calculate the implied interest or fees based on the total cost versus the retail price.

Conclusion

Above Leasing can provide a convenient option for financing Ashley Furniture, particularly for those with limited credit options. However, it's crucial to thoroughly understand the terms, compare it to alternatives, and carefully weigh the total cost before signing any agreement. Don't hesitate to seek advice from a financial advisor if you need assistance making this important decision. Remember to always prioritize responsible financial management.