<PAGE>
                                                                     EXHIBIT 4.7


                            RENT-A-CENTER EAST, INC.,
                                   as Issuer,

                              RENT-A-CENTER, INC.,
                                  as Guarantor,

                     the SUBSIDIARY GUARANTORS named herein,
                                 as Guarantors,

                                       and

                              THE BANK OF NEW YORK
                                   as Trustee


                              AMENDED AND RESTATED
                          THIRD SUPPLEMENTAL INDENTURE

                           Dated as of March 26, 2003

                     To be effective as of December 31, 2002

                                       to

                                    INDENTURE

                          Dated as of December 19, 2001

                                     between

                      RENT-A-CENTER EAST, INC., as Issuer,

             the SUBSIDIARY GUARANTORS named therein, as Guarantors,

                                       and

                        THE BANK OF NEW YORK, as Trustee


                                  $275,000,000
                                    SERIES D
                     11% SENIOR SUBORDINATED NOTES DUE 2008


<PAGE>


         This AMENDED AND RESTATED THIRD SUPPLEMENTAL INDENTURE is made and
entered into as of March 26, 2003, to be effective as of December 31, 2002, by
and among Rent-A-Center East, Inc. (formerly, Rent-A-Center, Inc.), a Delaware
corporation (the "COMPANY"), Rent-A-Center, Inc. (formerly, Rent-A-Center
Holdings, Inc.), a Delaware corporation ("RAC HOLDINGS"), ColorTyme, Inc., a
Texas corporation ("COLORTYME"), Rent-A-Center West, Inc., a Delaware
corporation, formerly known as Advantage Companies, Inc. ("RAC WEST"), Get It
Now, LLC, a Delaware limited liability company ("GET IT NOW"), Rent-A-Center
Texas, L.P., a Texas limited partnership ("RAC TEXAS, LP"), Rent-A-Center Texas,
L.L.C., a Nevada limited liability company ("RAC TEXAS, LLC"), and The Bank of
New York, a New York banking corporation, as Trustee (the "TRUSTEE").

                                    RECITALS

         WHEREAS, the parties hereto have previously executed that certain Third
Supplemental Indenture, dated as of December 31, 2002 (the "Third Supplemental
Indenture"); and

         WHEREAS, the parties hereto desire to amend and restate the Third
Supplemental Indenture in its entirety.

         NOW, THEREFORE, for and in consideration of the premises and covenants
and agreements contained herein, and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company, RAC
Holdings, ColorTyme, RAC West, Get It Now, RAC Texas, LP, RAC Texas, LLC and the
Trustee hereby agree that the Third Supplemental Indenture shall be amended and
restated to read in its entirety as follows:

         AMENDED AND RESTATED THIRD SUPPLEMENTAL INDENTURE

         WHEREAS, the Company has heretofore executed and delivered to the
Trustee an Indenture, dated as of December 19, 2001, as supplemented by the
First Supplemental Indenture, dated May 1, 2002, between the Company, ColorTyme,
RAC West and the Trustee, and the Second Supplemental Indenture, dated September
30, 2002, between the Company, ColorTyme, RAC West, Get It Now and the Trustee
(the "INDENTURE") providing for the issuance of its 11% Senior Subordinated
Notes due 2008, Series D (the "NOTES"); and

         WHEREAS, the Company has formed RAC Holdings as a wholly-owned
subsidiary of the Company; and

         WHEREAS, RAC Holdings has formed RAC Merger Sub, Inc., a Delaware
corporation ("SUB RAC"), as a wholly-owned subsidiary of RAC Holdings; and

         WHEREAS, the Company intends to merge Sub RAC with and into the Company
effective as of December 31, 2002 (the "MERGER"), whereupon the Company will
continue as the surviving corporation following the Merger; and

         WHEREAS, pursuant to Section 801 of the Indenture, the Merger is
permitted under the Indenture; and


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         WHEREAS, upon the effective time of the Merger, the Company's name will
be changed to Rent-A-Center East, Inc. ("RAC EAST") and immediately thereafter,
RAC Holdings will change its name to Rent-A-Center, Inc.; and

         WHEREAS, RAC Holdings will be deemed a successor issuer to the Company
under Rule 12g-3 of the Securities Exchange Act of 1934 and will therefore
assume the Company's filing obligations under Section 1019 of the Indenture (the
"ASSUMPTION OF FILING OBLIGATIONS"); and

         WHEREAS, pursuant to Section 901(ix) of the Indenture, the Trustee is
permitted to amend the Indenture to allow for the Assumption of Filing
Obligations; and

         WHEREAS, RAC Holdings will Guarantee the Notes under the Indenture (the
"GUARANTEE") and has been designated as a Unrestricted Subsidiary by the Company
under the Indenture; and

         WHEREAS, pursuant to Section 901(iii) of the Indenture, the Trustee is
permitted to amend the Indenture to allow for the Guarantee; and

         WHEREAS, ColorTyme, RAC West and Get It Now are currently Subsidiary
Guarantors under such Indenture; and

         WHEREAS, the Company has formed RAC Texas, LLC as a wholly-owned
subsidiary of the Company; and

         WHEREAS, the Company has formed RAC Texas, LP as an indirect
wholly-owned subsidiary of the Company, the sole limited partner of which is RAC
Texas, LLC and the sole general partner of which is the Company; and

         WHEREAS, in connection with the formation of each of RAC Texas, LP and
RAC Texas, LLC, certain assets held by the Company will be transferred to RAC
Texas, LP (the "TEXAS TRANSFER"); and

         WHEREAS, in connection with the formation of each of RAC Texas, LP and
RAC Texas, LLC and the resulting Texas Transfer, the Company has designated each
of RAC Texas, LP and RAC Texas, LLC as a Restricted Subsidiary under the
Indenture; and

         WHEREAS, certain assets held by the Company will also be transferred to
RAC West (together with the Texas Transfer, the "TRANSFERS"); and

         WHEREAS, pursuant to Section 1009, 1012 and 1017 of the Indenture, the
Transfers are permitted under the Indenture; and

         WHEREAS, in partial consideration for the Texas Transfer, each of RAC
Texas, LP and RAC Texas, LLC has agreed to become a Subsidiary Guarantor by
guaranteeing the obligations of the Company under the Indenture in accordance
with the terms thereof; and



                                      - 3 -
<PAGE>

         WHEREAS, pursuant to Section 1020 of the Indenture, the addition of
each of RAC Texas, LP and RAC Texas, LLC as a Subsidiary Guarantor is required
under the Indenture; and

         WHEREAS, in order to properly reflect the names of the parties to the
Indenture, the definition of "Company" in Section 101 of the Indenture shall
refer to RAC East (the "CONFORMING DEFINITION"); and

         WHEREAS, in order to properly reflect the names of the parties to the
Indenture, the reference to Advantage Companies, Inc. in the definition of
"Subsidiary Guarantor" in Section 101 of the Indenture shall refer to RAC West
(together with the Conforming Definition, the "CONFORMING DEFINITIONS"); and

         WHEREAS, pursuant to Section 901(ix) of the Indenture, the Trustee is
permitted to amend the Indenture to allow for the Conforming Definitions; and

         WHEREAS, RAC East will establish the Legacy Drive Trust (the "TRUST"),
a grantor trust to be governed by the laws of the State of Texas; and

         WHEREAS, RAC East will fund the Trust with treasury stock of RAC
Holdings held by the Company or previously unissued shares of RAC Holdings; and

         WHEREAS, RAC East may contribute additional assets or cash to the Trust
from time to time; and

         WHEREAS, pursuant to Section 901(ix) of the Indenture, the Trustee is
permitted to amend the Indenture to allow for the formation, funding and
operation of the Trust; and

         WHEREAS, each of the Company, RAC Holdings, ColorTyme, RAC West, Get It
Now, RAC Texas, LP and RAC Texas, LLC has been duly authorized to enter into,
execute and deliver this Amended and Restated Third Supplemental Indenture.

         NOW, THEREFORE, for and in consideration of the premises and covenants
and agreements contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Company, RAC
Holdings, ColorTyme, RAC West, Get It Now, RAC Texas, LP, RAC Texas, LLC and the
Trustee agree as follows:

SECTION 1. Capitalized terms used herein but not defined herein shall have the
meaning provided in the Indenture.

SECTION 2. The Trustee hereby consents to the Assumption of Filing Obligations
by RAC Holdings, the related amendment to Section 1019 of the Indenture to
provide for RAC Holdings to satisfy the filing obligations, the Guarantee by RAC
Holdings, the Conforming Definitions and the formation, funding and operation of
the Trust as described herein.

SECTION 3. The Trustee hereby consents to the Transfers and to the addition of
each of RAC Texas, LP and RAC Texas, LLC as additional Subsidiary Guarantors
under the Indenture. Simultaneously with the Transfers (the "EFFECTIVE TIME"),
each of RAC Texas, LP and RAC Texas, LLC shall become, and each of ColorTyme,
RAC West and Get It Now shall continue to




                                      - 4 -
<PAGE>

be, a "Subsidiary Guarantor" under and as defined in the Indenture, and at the
Effective Time, each of RAC Texas, LP and RAC Texas, LLC shall assume all the
obligations of a Subsidiary Guarantor under the Notes and the Indenture as
described in the Indenture. Each of RAC Holdings, RAC Texas, LP and RAC Texas,
LLC hereby, jointly and severally, unconditionally guarantees the full and
prompt payment of the principal of, premium, if any, and interest on the Notes
and all other obligations of the Issuer and the Guarantors under the Indenture
in accordance with the terms of the Notes and the Indenture.

SECTION 4. Except as expressly supplemented by this Amended and Restated Third
Supplemental Indenture, the Indenture and the Notes issued thereunder are in all
respects ratified and confirmed and all of the rights, remedies, terms,
conditions, covenants and agreements of the Indenture and Notes issued
thereunder shall remain in full force and effect.

SECTION 5. This Amended and Restated Third Supplemental Indenture is executed
and shall constitute an indenture supplemental to the Indenture and shall be
construed in connection with and as part of the Indenture. This Amended and
Restated Third Supplemental Indenture shall be governed by and construed in
accordance with the laws of the jurisdiction that governs the Indenture and its
construction.

SECTION 6. This Amended and Restated Third Supplemental Indenture may be
executed in any number of counterparts, each of which shall be deemed to be an
original for all purposes; but such counterparts shall together be deemed to
constitute but one and the same instrument.

SECTION 7. Any and all notices, requests, certificates and other instruments
executed and delivered after the execution and delivery of this Amended and
Restated Third Supplemental Indenture may refer to the Indenture without making
specific reference to this Amended and Restated Third Supplemental Indenture,
but nevertheless all such references shall include this Amended and Restated
Third Supplemental Indenture unless the context otherwise requires.

SECTION 8. This Amended and Restated Third Supplemental Indenture shall be
deemed to have become effective upon the date first above written.

SECTION 9. In the event of a conflict between the terms of this Amended and
Restated Third Supplemental Indenture and the Indenture, this Amended and
Restated Third Supplemental Indenture shall control.

SECTION 10. The Trustee shall not be responsible in any manner whatsoever for or
in respect of the validity or sufficiency of this Amended and Restated Third
Supplemental Indenture or for or in respect of the recitals contained herein,
all of which recitals are made solely by the Company, RAC Holdings, ColorTyme,
RAC West, Get It Now, RAC Texas, LP and RAC Texas, LLC.




                                      - 5 -
<PAGE>


         IN WITNESS WHEREOF, the parties have caused this Amended and Restated
Third Supplemental Indenture to be duly executed as of the day and year first
above written.

THE BANK OF NEW YORK,
as Trustee


By:      /s/ Van K. Brown
   ------------------------
Name:    Van K. Brown
     ----------------------
Title:   Vice President
      ---------------------


                              RENT-A-CENTER EAST, INC.


                              By: /s/ Mark E. Speese
                                 ---------------------------------------------
                                  Mark E. Speese
                                  Chairman of the Board and
                                  Chief Executive Officer


                              RENT-A-CENTER, INC.


                              By: /s/ Mark E. Speese
                                 ---------------------------------------------
                                  Mark E. Speese
                                  Chairman of the Board and
                                  Chief Executive Officer


                              COLORTYME, INC.


                              By: /s/ Mark E. Speese
                                 ---------------------------------------------
                                  Mark E. Speese
                                  Vice President


                              RENT-A-CENTER WEST, INC.


                              By: /s/ Mark E. Speese
                                 ---------------------------------------------
                                  Mark E. Speese
                                  President




                                     - 6 -
<PAGE>


                              GET IT NOW, L.L.C.


                              By: /s/ Mark E. Speese
                                 ---------------------------------------------
                                  Mark E. Speese
                                  President


                              RENT-A-CENTER TEXAS, L.P.


                              By: /s/ Mark E. Speese
                                 ---------------------------------------------
                                  Mark E. Speese
                                  Chief Executive Officer


                              RENT-A-CENTER TEXAS, L.L.C.


                              By: /s/ James Ashworth
                                 ---------------------------------------------
                                  James Ashworth
                                  President



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