vocabulary:
  name: Rent-A-Center Vocabulary
  description: >-
    Vocabulary and taxonomy for Rent-A-Center lease-to-own retail operations,
    covering lease agreements, payment schedules, merchandise categories,
    and the company's partner integration programs.
  version: "1.0"
  created: "2026-05-02"
  modified: "2026-05-02"
  tags:
    - Retail
    - Lease-To-Own
    - Consumer Finance

terms:

  # Business Model
  - term: Lease-To-Own
    definition: >-
      A consumer transaction model where merchandise is rented on a periodic
      payment basis with the option to own the item after making all required
      payments, or purchase early at a reduced cash price. No credit check
      is required for standard agreements.
    category: Business Model
    tags: [Finance, Retail]

  - term: Lease Agreement
    definition: >-
      A contractual arrangement between Rent-A-Center and a customer specifying
      the merchandise, payment schedule, payment amount, cash price, and total
      cost of ownership for a specific rental period.
    category: Agreement
    tags: [Legal, Finance]

  - term: Cash Price
    definition: >-
      The immediate purchase price to own merchandise outright without a lease
      agreement. Typically significantly lower than the total cost of ownership
      via periodic payments.
    category: Pricing
    tags: [Finance, Pricing]

  - term: Total Cost of Ownership
    definition: >-
      The total amount a customer pays if they complete all scheduled lease
      payments without early buyout. Includes the cash price plus financing fees.
    category: Pricing
    tags: [Finance, Pricing]

  - term: Early Purchase Option
    definition: >-
      The ability for a customer to buy out their lease agreement before the
      end of the term at a discounted price, typically calculated as a
      percentage of the original cash price.
    category: Agreement
    tags: [Finance, Customer]

  # Payment
  - term: AutoPay
    definition: >-
      Automatic recurring payment enrollment via the Rent-A-Center ePay portal.
      Customers can enroll a bank account or card to automatically process
      payments on the due date.
    category: Payment
    tags: [Payment, Digital]

  - term: ePay
    definition: >-
      Rent-A-Center's online and mobile payment platform at epay.rentacenter.com.
      Allows customers to view agreements, make payments, and enroll in AutoPay.
    category: Payment
    tags: [Payment, Digital]

  # Programs
  - term: Acima
    definition: >-
      Formerly AcceptanceNOW. A Rent-A-Center brand providing a virtual
      lease-to-own kiosk program for partner retailers. Customers can apply
      for lease approval at participating retail partner locations.
    category: Program
    tags: [Partner, Integration]

  - term: Preferred Lease
    definition: >-
      Rent-A-Center's combined in-store and virtual lease-to-own service for
      retail partners, combining Acima's in-store kiosks with Merchants Preferred's
      virtual lease capabilities.
    category: Program
    tags: [Partner, Integration]

  # Merchandise
  - term: Electronics
    definition: >-
      Consumer electronics merchandise available for lease including televisions,
      gaming consoles, sound systems, and mobile phones. One of Rent-A-Center's
      primary product categories.
    category: Merchandise
    tags: [Products, Electronics]

  - term: Appliances
    definition: >-
      Home appliances available for lease including washers, dryers, refrigerators,
      and air conditioners. Major appliances make up a significant portion of
      Rent-A-Center's merchandise.
    category: Merchandise
    tags: [Products, Appliances]

  - term: Furniture
    definition: >-
      Home and bedroom furniture including sofas, beds, dining sets, and
      mattresses available through Rent-A-Center lease agreements.
    category: Merchandise
    tags: [Products, Furniture]

  - term: Certified Pre-Owned
    definition: >-
      Returned, refurbished merchandise that Rent-A-Center inspects and
      recertifies for re-rental at reduced payment amounts. Available
      alongside new merchandise in most stores.
    category: Merchandise
    tags: [Products, Condition]

  # Payment Schedules
  - term: Weekly Payment
    definition: >-
      The most common lease payment schedule at Rent-A-Center, where
      customers make payments every week aligned to their pay cycle.
    category: Payment Schedule
    tags: [Payment, Schedule]

  - term: Bi-Weekly Payment
    definition: >-
      A lease payment schedule where payments are made every two weeks,
      typically aligned with a bi-weekly paycheck.
    category: Payment Schedule
    tags: [Payment, Schedule]