When it comes time to furnish your home, you may be wondering whether to shop at Conn’s or Aaron’s. Both Conn’s and Aaron’s are rent-to-own furniture and appliance retailers that allow you to take home products immediately with monthly payments.
However, there are some key differences between the two stores that you should consider.
A Brief Comparison Table
| Feature | Conn’s | Aaron’s |
| Store Footprint | 150+ locations in southern US | 1,400+ locations in US & Canada |
| Credit Checks | Yes, internal credit check required | No credit check required |
| Ownership | Immediate ownership when purchased | Own items after all payments made |
| Payment Options | Fixed monthly payment terms | Weekly or monthly payments |
| Item Pricing | Higher upfront prices | Lower weekly/monthly payments |
| Total Cost | Pay more over time due to interest | Pay significantly more over full lease term |
| Delivery | Free delivery on most products | Delivery fees apply |
| Returns | Standard return policy | Stricter return policy on leased items |
Overview Of Conn’s
Conn’s HomePlus is a specialty retailer that sells furniture, mattresses, home appliances, and consumer electronics. With over 150 locations across 14 states, primarily in the South and Southwest regions, Conn’s focuses on offering flexible payment options.
The store provides in-house financing to customers through a proprietary credit program. This allows shoppers the ability to take home products immediately and pay for them over time through fixed monthly payments. Conn’s also offers third-party financing options and traditional credit for qualified customers.
Pros of Shopping at Conn’s
- Immediate ownership: You can take home products the same day without waiting for credit checks or approvals.
- Flexible payment options: Conn’s offers payment plans tailored to your budget, including 90 days same as cash.
- Item selection: Conn’s has a large showroom selection of top brands for electronics, appliances, and furniture.
- Free delivery: Most products include free delivery to your home.
Cons of Shopping at Conn’s
- Credit checks: Conn’s runs an internal credit check even if you pay upfront. Multiple hard checks can negatively impact your credit score.
- Higher prices: Items may cost more compared to other retailers since the flexible credit is built into the pricing.
- Interest charges: You will pay more over time than the cash price due to Conn’s credit financing fees and interest rates.
- Repossession: Conn’s can repossess items if you fall too far behind on payments.
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Overview Of Aaron’s
Aaron’s is also a rent-to-own retailer focused on furniture, electronics, and appliances. With over 1,400 storefronts across the U.S. and Canada, Aaron’s provides lease-to-own agreements to purchase merchandise over time.
Customers make monthly payments with the option to cancel anytime. After the full agreed upon payments are made, ownership of the product transfers to the customer. Aaron’s primarily serves credit-challenged customers.
Pros of Shopping at Aaron’s
- No credit check: Aaron’s approves customers without running hard credit inquiries that hurt your score.
- Lower weekly/monthly payments: Aaron’s offers more affordable payment plans with the option to buy out a lease anytime.
- Larger store footprint: Aaron’s has a much wider presence across North America compared to Conn’s.
- Early purchase options: You can purchase leased items after making a percentage of the total payments.
Cons of Shopping at Aaron’s
- No immediate ownership: You do not own the products until all payments are made in full.
- More expensive overall: While payments are lower, you end up paying much more over the full lease term compared to the cash price.
- No free delivery: Aaron’s charges a delivery and setup fee upfront for most leased products.
- Limitations on returns: Returning a leased item can be more complicated than a typical purchase.
Now that we’ve covered the key pros and cons of Conn’s and Aaron’s, let’s do a side-by-side breakdown of some of the most important differences for shoppers.
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Frequently Asked Questions (FAQ)
The main competitors of Conn’s are other rent-to-own chains like Aaron’s and Rent-A-Center as well as retailers that offer financing like Best Buy. Big box stores like Walmart and Amazon also compete with Conn’s on price and selection for electronics, appliances, and furniture.
Yes, Conn’s runs an internal credit check when applying for their in-house credit financing program. This allows them to provide instant access to credit and ownership without waiting for an approval process. However, it results in a hard credit inquiry that can negatively impact your credit score if applied for frequently.
Aaron’s competes directly with rent-to-own chains like Rent-A-Center, Easyhome, and AcceptanceNow. They also compete with Conn’s for customers looking for financing options for appliances, electronics, and furniture beyond traditional installment loans.
No, one of the benefits of Aaron’s is that they do not perform hard credit checks that would affect your credit score. This allows them to appeal to customers with poor or no credit history. However, you end up paying much more over the full lease term than the retail price.
Key Takeaways
As you can see, the two retailers take different approaches when it comes to credit requirements, payment structure, and overall cost. This means you should factor your own financial situation and priorities into deciding which is a better fit.
- Conn’s offers immediate ownership while Aaron’s transfers ownership only after the full lease is paid.
- Aaron’s approves customers without a credit check, while Conn’s requires an internal credit check.
- Aaron’s offers more affordable weekly/monthly payments, but the total cost is higher than Conn’s overall.
- Consider your budget, credit situation, and priorities regarding ownership, costs, and payments.
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The right choice comes down to your financial situation. If you want instant ownership with competitive pricing but can qualify for credit financing, Conn’s may be a better fit.
If you need flexible payments but want to avoid credit checks, then Aaron’s leasing model might appeal more despite the higher total costs. Carefully compare the key pros and cons before committing to either retailer.