Rent-to-own stores allow you to furnish your home without paying the full cost of furniture and appliances upfront.
However, when life takes an unexpected turn, you may find yourself unable to make your payments on time.
The Aaron's late payment policy varies by location, but generally requires you to pay a late fee.
Most Aaron’s locations charge late fees ranging from $5 to $13, though your local store may offer a grace period before charging the fee.[1][2]
If you know you’re going to be late, it’s a good idea to contact Aaron’s customer service or your local store to discuss your options before the due date.[1][2][3]
See the details of Aaron’s late payment policy below, complete with information regarding grace periods, deferred payments, and repossessions.
Aaron’s Late Payment Policy
Aaron’s late payment policy varies by location. This is because some Aaron’s stores are company-operated, while others are franchise locations.[1][2]
If you think your payment will be late, it’s best to contact Aaron’s customer service department at (800) 520-7368 or the store where you shopped before your payment is due.[1][2][3]
A representative may be able to help you avoid late fees and other consequences.[1][2]
I contacted Aaron’s stores in North Dakota, Texas, and Vermont, as well as its corporate customer service department to find out more about its late payment policy.
Grace Period
If you make bi-monthly payments, these are typically due on the 1st and 15th of each month. Monthly payments are due on the day your contract states.[1]
Grace periods vary; some locations consider your payment late the day after your due date. Others give you up to three days if you make bi-monthly payments or seven days if you make monthly payments.[1][2]
Late Fees
Late fees vary but are generally $5 to $13, depending on the location and the lease amount. Some stores may charge 10% of your usual lease payment amount.[1][2]
You can find the specific fees that apply to your lease by contacting the Aaron’s store where you made your purchase(s) and/or consulting your contract.[1][2]
Deferred Payments
If you know your payment will be late ahead of its due date, you can request to defer or skip a payment.[1][2]
This doesn’t mean that Aaron’s will approve your request, but the retailer is more likely to work with you if you keep in contact and let customer service know when you’ll be able to catch up on payments.[1][2]
Some locations will only defer payments for two weeks, while others may let you skip a payment. If you’re able to skip a payment, Aaron’s will add it to the end of your lease agreement.[1][2]
Consequences of Missed Payments
Aaron’s may report missed payments to the credit bureaus after 60 days, though this can vary by location.[1]
It can also repossess leased items. Repossession times vary by location and your payment history;[1][2] see more about the Aaron’s repossession policy.
If you’ve made on-time payments for several months, Aaron’s will be more willing to work with you than if you just started a lease and haven’t made any payments.[1][2]
If you continue to miss payments without making arrangements with the store, there may be further legal consequences. See more on whether you can go to jail for not paying Aaron’s.
Tip: If you get a new debit or credit card, make sure you update your payment method to avoid any late or missed payments and surprise late fees.
FAQ
How do you sign up for EZPay automatic payments with Aaron’s?
You can sign up for EZPay by contacting the store where you leased the item. Automatic payments can help you avoid late and missed payments.[4]
What should you do if the Aaron’s website locks you out of your online account?
You should contact Aaron’s customer service at (888) 333-3785 for assistance. Note that if your payment is late because you’re locked out of your account, you’ll still be subject to late fees, so it’s best to contact customer service as soon as possible.[4]
What payment methods does Aaron’s accept for lease payments?
You can make payments by cash, check, money order, debit card, or credit card. However, Aaron’s doesn’t take Apple Pay or Google Pay.[2][4]
In Summary
Aaron’s late payment policy varies by location, but you can generally expect to pay a $5 to $13 fee for each late payment.[1][2]
The grace period for late payments also varies by location and may be anywhere from the day the after missing a payment to seven days later.[1][2]
Aaron’s may report late payments to the credit bureau after 60 days. If you continue not to pay, it may also repossess the leased item(s).[1][2]
If you anticipate a late payment, be sure to get in contact with Aaron’s as soon as possible. The company does its best to work with customers who’ve established a good payment history.[1][2][3]
Be sure to leave any comments, questions, or relevant experiences regarding Aaron’s late payment policy in the comments section below.
