Rent-A-Center Unveils New Flexible Lease-to-Own Program, Preferred Lease

January 29, 2020  by Laurie Northington in Business Strategy, Industry   

Preferred Lease is the combined business model of Acceptance Now’s staffed lease-to-own business with Merchants Preferred’s virtual lease-to-own business. The new Preferred Lease offering is designed to communicate the new, more flexible lease-to-own program, which maximizes the retail partner’s opportunity to attract more customers with a more comprehensive, differentiated offering.

"In the last year, Rent-A-Center successfully acquired and integrated Merchants Preferred, advancing our existing capabilities into the most comprehensive offering in the industry," stated Mitch Fadel, CEO of Rent-A-Center. "Preferred Lease has a unique offering that services the needs and expectations of both our customers and retail partners. We significantly increase retailers’ same store sales by doing business with both the banked and un-banked consumer. Preferred Lease is also the only lease-to-own provider in the market with the option of providing supplemental staff for the retailer. We are very excited to be able to deliver our customers the solution they need and our retail partners a truly differentiated offering."

Preferred Lease is the only lease-to-own program that provides technology solutions including an automated application waterfall and e-commerce integration, coupled with flexibility in staffing and world-class customer service. Preferred Lease enhances our retail partner relationships by providing offerings specifically tailored to their business and selling trends, including the ability to choose an in-store staffed, self-guided virtual or hybrid model. Customers benefit with flexible ownership options and cutting-edge technology, which provides a quick and easy approval process.

"Our new Preferred Lease website and brand identity better reflects our market position and clearly demonstrates our product to the consumer," stated Ann Davids, chief customer and marketing officer of Rent-A-Center. "The newly designed website features easy-to-navigate pages and a quick, nimble application process. Our new logo and website represent who Preferred Lease is and what we bring to market for our customers and retail partners."