Consumer complaint received 2026-02-28 00:00:00
Product: Payday loan, title loan, personal loan, or advance loan — Installment loan
Issue: Problem with the payoff process at the end of the loan — 
Company: ACIMA CREDIT, LLC
State: OH

Complaint narrative:
In XX/XX/year>, we purchased a washer and dryer from XXXX XXXX XXXX after ordering the appliances online. When we arrived at the XXXX location to pick up the items, the store was unable to locate the units we purchased. The store manager offered a floor model replacement and represented that it could be financed under the following terms : XXXX months same as cash XXXX % interest if not paid within XXXX months Relying on these representations, we agreed to proceed with the transaction. At no time during the sale process were we informed that the agreement was a lease-to-own contract through Acima Leasing rather than a traditional financing agreement. Specifically, we were not told : that the agreement was a lease rather than financing that ownership would not transfer unless additional purchase conditions were satisfied that the total cost would greatly exceed the purchase price that a 90-day early purchase option existed that failure to exercise early purchase options could result in thousands of dollars in total payments We paid approximately {$900.00} toward what we believed was a financed purchase. When attempting to make the final payment near the six-month deadline, we discovered the agreement reflected a remaining obligation exceeding {$2000.00}. After multiple attempts to obtain clarification, an Acima representative from another store returned our call and explained : the program is a lease-to-own structure the terms were not properly explained at the time of sale the individual listed on the contract is a XXXX XXXX employee, not XXXX Acima representative store personnel should not have presented the lease as traditional financing Legal Concerns & Consumer Protection Implications This situation raises serious consumer protection concerns. 1. Misrepresentation of Financing Terms The transaction was presented as traditional financing with XXXX months same as cash. Representing a lease-to-own agreement as financing may constitute a deceptive sales practice. Relevant Law : Ohio Consumer Sales Practices Act ( ORC 1345 ) prohibits deceptive, misleading, or unconscionable acts in consumer transactions. 2. Failure to Clearly Disclose Lease Terms Lease-to-own agreements must clearly disclose : that the agreement is a lease, not financing total cost to own purchase options and deadlines fees and penalties Failure to provide clear disclosure prior to signing may violate consumer protection requirements. 3. Unauthorized Explanation of Lease Terms We were informed that the contract terms were explained by a XXXX XXXX employee rather than an Acima representative. If true, this raises compliance concerns regarding proper execution and disclosure of lease agreements. 4. Potential Federal Consumer Protection Issues Failure to clearly disclose the true nature of a financing or lease agreement may raise issues under : Federal Trade Commission Act ( prohibits deceptive practices ) Truth in Lending Act disclosure principles ( when credit-like terms are presented ) Consumer Harm As a result of the misrepresentation and lack of disclosure : We entered the agreement under incorrect assumptions. We made payments believing we were financing a purchase. We were later informed that the total cost could exceed thousands more than expected

Company response to consumer: Closed with explanation