Rent-A-Center
An American rent-to-own retailer offering furniture, electronics, appliances, computers, and related lease-to-own services.
Last updated October 22, 2026
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Overview
Rent-A-Center is an American rent-to-own retail brand whose customers obtain household goods and electronics through recurring rental payments, with an option to acquire ownership after completing the applicable agreement. Its assortment has historically included furniture, appliances, computers, televisions, smartphones, gaming products, and other consumer electronics, supplied in both new and used condition. The company’s proposition is built around relatively small initial payments, flexible agreement terms, delivery, pickup, servicing, repairs, and the ability to return merchandise without a conventional long-term loan commitment. Customers may also be able to renew an agreement, resume payments on a previously returned item, or upgrade to another product, depending on the terms of the transaction and applicable law. The brand traces its roots to the rent-to-own operation established by Ernest “Ernie” Talley in Wichita, Kansas, during the 1960s. Talley’s earlier Mr. T’s Rental business helped demonstrate the basic model: customers rented durable goods and could ultimately own them after paying for them over time. Former employee Thomas Devlin and W. Frank Barton developed that concept into the Rent-A-Center brand in 1973. The business later passed through a series of ownership and corporate changes. Thorn EMI acquired Rent-A-Center in 1987, while a competing company founded by Mark Speese and an associate became Vista Rent-To-Own. Vista changed its name to Renters Choice in 1993, went public on Nasdaq in 1995 under RCII, and acquired Thorn Americas in 1998. Following that transaction, Renters Choice adopted the Rent-A-Center name and consolidated its stores under the brand. Expansion thereafter came through acquisitions, including stores from Rent-Way, Rainbow Rentals, and Rent Rite. The 2006 Rent-Way acquisition substantially enlarged the store network, although subsequent closures and mergers reduced overlap in markets that became overpenetrated. Rent-A-Center also developed several related channels. Get It Now operates a retail installment format in Wisconsin, Home Choice serves Minnesota, and ColorTyme became the basis of a franchising business. AcceptanceNOW, originally launched as RAC Acceptance in 2006, places lease-to-own kiosks and staffed operations inside third-party retailers. In 2019 the company acquired Merchants Preferred and combined its virtual lease-to-own capabilities with the AcceptanceNOW platform to form the Preferred Lease offering. Rent-A-Center operates outside the continental United States through Puerto Rico and Mexico, and formerly in Canada. Its Canadian business was later reduced, including the 2015 sale of several Ontario locations to Easyhome. In Mexico the operation uses the RAC name, while local legal and regulatory conditions influenced the use of alternative names such as Get It Now and Home Choice in the United States. The company’s corporate identity changed in February 2023, when Rent-A-Center, Inc. became Upbound Group, Inc., bringing multiple businesses—including brands obtained through the acquisition of Acima Holdings—under a broader corporate structure. Rent-A-Center remains the consumer-facing brand within that portfolio rather than disappearing as a retail name. Its positioning is distinctive but contested: supporters emphasize accessibility, convenience, flexible commitment, and included services, while consumer advocates criticize rent-to-own pricing and collection practices, arguing that completing payments can substantially exceed ordinary retail prices. The brand has faced employment, consumer-protection, collection, litigation, and regulatory disputes alongside continuing charitable giving and community programs.
History
The commercial roots of Rent-A-Center lie in Wichita, Kansas, where Ernest Talley operated Mr. T’s Rental during the 1960s. The business illustrated the central rent-to-own proposition: a customer could rent a washer and dryer for a period and eventually become the owner after making sufficient payments. Thomas Devlin, who had worked for Talley, later partnered with W. Frank Barton to formalize and expand the concept under the Rent-A-Center name in 1973. Corporate ownership changed significantly during the following decades. Thorn EMI acquired Rent-A-Center in 1987. Separately, Mark Speese and an associate established Vista Rent-To-Own in 1986. Ernest Talley joined Vista as board chairman in 1989. Vista acquired an 84-store chain in 1993 and changed its corporate name to Renters Choice. The company completed its initial public offering on Nasdaq in 1995 under the ticker RCII. In 1998, Renters Choice acquired Thorn Americas, which operated a substantial network of Rent-A-Center stores. The buyer changed its corporate name to Rent-A-Center, Inc. at the end of that year and standardized the retail network under the Rent-A-Center banner. The company expanded through purchases of Rent-Way stores in 2003 and businesses including Rainbow Rentals and Rent Rite in 2004. Its 2006 purchase of Rent-Way, then a major competitor, increased the store base considerably. Because the enlarged network created excessive overlap in some markets, the company closed or merged numerous locations between 2007 and 2009. Rent-A-Center broadened its business beyond conventional company-operated stores. In 2004 it entered Canada through the purchase of stores in Alberta. It also operated in Mexico and Puerto Rico. The franchise subsidiary Rent-A-Center Franchising International, formerly ColorTyme, supported independently operated stores under Rent-A-Center and ColorTyme names. RimTyme provided a related wheels-and-tires franchise format. In Wisconsin, regulatory and judicial treatment of rent-to-own transactions contributed to the use of the Get It Now credit-sale format; Home Choice served a similar market-specific role in Minnesota. The company launched RAC Acceptance in 2006 to place lease-to-own kiosks inside other retailers. That operation became AcceptanceNOW in 2014. Rent-A-Center sold several Ontario locations to Easyhome in 2015 and agreed to a temporary mutual non-compete arrangement covering Canada and the United States. In 2019 it acquired Merchants Preferred, a provider of virtual lease-to-own services, and combined the acquired capability with AcceptanceNOW under the Preferred Lease concept. Leadership shifted repeatedly. Speese became chairman and chief executive in 2001, retired as chief executive at the end of January 2014, and returned as interim chief executive in 2017. Robert Davis led the company between those periods. Mitchell Fadel succeeded Speese in 2018. The corporate office moved to Plano, Texas, in 2007, reinforcing the company’s identity as a Texas-headquartered national retailer. Consumer-protection scrutiny has been a persistent feature of the industry. Critics have argued that rent-to-own agreements should be treated as credit sales and have highlighted the possibility that total payments may exceed ordinary retail prices by a substantial margin. Rent-A-Center has also faced disputes involving alleged hiring discrimination, California pricing and business practices, collection methods, arbitration, freight charges, and customer treatment. These matters shaped the brand’s regulatory profile without eliminating its core business model. On February 27, 2023, Rent-A-Center, Inc. changed its corporate name to Upbound Group, Inc. The change reflected a broader portfolio strategy following the acquisition of Acima Holdings and the consolidation of multiple lease-to-own businesses. Rent-A-Center continues as a consumer-facing brand within that group, while related services operate under names such as AcceptanceNOW and Preferred Lease.
- 2023
Corporate name changes to Upbound Group
[1]Rent-A-Center, Inc. changed its corporate name to Upbound Group, Inc. as part of a broader multi-brand structure.
- 2019
Merchants Preferred acquired
[1]The acquisition added virtual lease-to-own capabilities and helped create the Preferred Lease offering.
- 2014
RAC Acceptance renamed AcceptanceNOW
[1]The company rebranded its lease-to-own kiosk business in third-party retail locations.
- 2007
Plano headquarters opens
[1]The company moved its corporate office to a newly built facility in Plano, Texas.
- 2006
Rent-Way acquisition
[1]Rent-A-Center completed its acquisition of Rent-Way, adding a large competing store network.
- 2004
Canadian expansion
[1]The company entered Canada by acquiring five stores in Edmonton and Calgary.
- 1998
Thorn Americas acquisition and brand consolidation
[1]Renters Choice acquired Thorn Americas and subsequently adopted Rent-A-Center, Inc. as its corporate name.
- 1995
Public listing on Nasdaq
[1]Renters Choice became a publicly traded company under the ticker RCII.
- 1993
Vista Rent-To-Own becomes Renters Choice
[1]The company adopted the Renters Choice name while expanding through the purchase of an 84-store rent-to-own chain.
- 1987
Thorn EMI acquires Rent-A-Center
[1]Thorn EMI acquired Rent-A-Center in a transaction reported at approximately $594 million.
Products and positioning
Flexible lease-to-own access to household goods and electronics for consumers who may prefer recurring payments or cannot make a conventional full-price purchase immediately.
Lease-to-own retail · 1973
Rent-to-own merchandise
The core offering covers new and used furniture, appliances, computers, televisions, electronics, gaming products, and other household goods. Customers make recurring payments under an agreement that generally includes the option to acquire ownership. Rent-A-Center has marketed flexible returns, renewal or re-rental options, delivery, pickup, maintenance, repair, and product upgrades as part of the service proposition.
Partner-retail lease-to-own · 2014
AcceptanceNOW
AcceptanceNOW is the successor to RAC Acceptance, a channel introduced in 2006 to provide lease-to-own services through kiosks and staffed operations located inside third-party retailers. It extends the company’s reach beyond standalone Rent-A-Center stores and enables customers to finance or lease merchandise purchased through partner businesses.
Virtual lease-to-own · 2019
Preferred Lease
Preferred Lease combines the partner-store capabilities associated with AcceptanceNOW and the virtual lease-to-own technology and operations obtained through the acquisition of Merchants Preferred. The service is designed to give retail partners an integrated way to offer lease-to-own transactions through physical and digital customer journeys.
Retail installment stores
Get It Now
Get It Now is a Rent-A-Center-related retail installment format used principally in Wisconsin. The separate branding reflected the state’s legal treatment of rent-to-own transactions and provided a credit-sale-oriented channel for household goods and electronics.
Rent-to-own retail
Home Choice
Home Choice is a market-specific brand associated with Rent-A-Center’s Minnesota operations. It provides a rent-to-own assortment and service model adapted to local regulatory conditions.
Controversies
2023
Massachusetts unfair-practices settlement
Rent-A-Center paid Massachusetts a reported $8.75 million to resolve claims involving unfair and deceptive business practices and agreed to stop filing criminal complaints against customers for missed payments.
2020
California freight-charge class-action settlement
The company settled a California customer class action concerning allegedly improper add-on freight charges for a reported $13 million.
2020
Communication Interface Technologies files patent suits against multiple companies
Communication Interface Technologies filed multiple patent infringement suits in the Texas Eastern District Court against several companies, including Cinemark Holdings and Yum! Brands. The suits alleged unauthorized use of patented push-notification technology; the plaintiff sought infringement adjudication, damages, costs, fees, and other relief.
2010
Washington collection-practices settlement
Rent-A-Center settled allegations by Washington authorities that its collection practices were unfair or deceptive under the state’s consumer-protection law.
2006
California deceptive-business-practices settlement
California authorities alleged unfair competition and misrepresentation of merchandise pricing. The settlement included reported consumer restitution and civil penalties.
2002
Sex-discrimination hiring settlement
A lawsuit alleging gender bias in hiring ended in a settlement requiring a reported $47 million cash payment and prospective hiring, training, and human-resources measures.
Marketing campaigns
- 2009Hunger Action Month support
United States · Puerto Rico
Rent-A-Center used its store network as collection points for cash donations supporting food banks during a month-long hunger-relief effort across the United States and Puerto Rico.
Outcome. The campaign supported food banks across the United States and Puerto Rico.
- 2005RAC Rooms
United States
The company furnished designated rooms at Boys & Girls Clubs of America locations, allowing participating clubs to select furniture, electronics, and computers. 116 rooms were reported as established between 2005 and 2010.
Outcome. 116 rooms were reported as established between 2005 and 2010.
- 2003Big Brothers Big Sisters fundraising
United States
Rent-A-Center began supporting local Big Brothers Big Sisters organizations through fundraising conducted in its stores.
Outcome. Ongoing charitable support was reported in the reference material.
Brand decisions
2023
Adopt Upbound Group corporate structureStrategyBackground
The company had expanded beyond the historic Rent-A-Center business and had acquired Acima Holdings.
Action taken
Rent-A-Center, Inc. changed its corporate name to Upbound Group, Inc. and consolidated multiple brands within the group.
Aftermath
Rent-A-Center continued as a consumer-facing brand within the broader Upbound portfolio.
2019
Acquire Merchants PreferredM&ABackground
Rent-A-Center sought to expand virtual lease-to-own services alongside its physical partner-retail operations.
Action taken
The company acquired Merchants Preferred and introduced the integrated Preferred Lease offering.
Aftermath
The transaction broadened the company’s digital and retail-partner capabilities.
2014
Rebrand RAC Acceptance as AcceptanceNOWStrategyBackground
The company operated lease-to-own kiosks and staffed services inside third-party retail locations.
Action taken
It changed the channel’s name to AcceptanceNOW.
Aftermath
The name became the principal identity for the partner-store lease-to-own business before its capabilities were combined with Merchants Preferred under Preferred Lease.
2006
Acquire Rent-WayM&ABackground
Rent-Way was a major competitor with a large national store network.
Action taken
Rent-A-Center completed the acquisition and integrated the additional stores into its network.
Aftermath
The enlarged footprint created market overlap, leading to store closures and mergers in later years.
Reported acquisition price. Approximately $600.3 million (2006)
Recent events
Homechoice announces Shane van Niekerk as incoming CEO[3]
Reported:
Homechoice announced that Shane van Niekerk will take over as CEO on 1 November 2026, succeeding Chris de Wit.
Impact RTO selects Digbi Health program for employees and families[4]
Reported:
Impact RTO Holdings selected Digbi Health’s digital therapeutics program for employees and their families across 74 Rent a Center locations. The program provides personalized remote health support.
- Unconfirmed
Communication Interface Technologies files patent suits against multiple companies[2]
Reported:
Communication Interface Technologies filed multiple patent infringement suits in the Texas Eastern District Court against several companies, including Cinemark Holdings and Yum! Brands. The suits alleged unauthorized use of patented push-notification technology; the plaintiff sought infringement adjudication, damages, costs, fees, and other relief.
Sources4 sources
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