ACIMA offers a rent-to-own (RTO) solution that allows you to acquire items like furniture, appliances, electronics, and more, even with limited or no credit history. Instead of a traditional loan, ACIMA's model involves a lease-purchase agreement. You make regular payments, and at the end of the lease term, you have the option to own the item.
This calculator helps you estimate the *weekly* or *bi-weekly* payment you might expect for a given item price, after accounting for any initial down payment, over a specific rental period. It's important to understand that ACIMA's actual pricing can vary based on their underwriting, store markups, and specific promotional offers. This calculator provides an estimation and should not be considered a guaranteed quote.
How the Estimation Works:
ACIMA's pricing structure is complex and often involves a significant markup over the retail price. They typically structure payments on a weekly or bi-weekly basis. A common method for estimating these payments involves determining the total amount to be paid over the lease term and then dividing it to find the periodic payment.
The formula used in this calculator is a simplified estimation:
Amount Financed = Item Price – Down Payment
Estimated Total Cost = Amount Financed * Markup Factor
Estimated Periodic Payment = Estimated Total Cost / Number of Payment Periods (e.g., number of weeks or bi-weeks in the rental period)
The Markup Factor is the most variable and often the highest component in RTO agreements. For estimation purposes, this calculator uses a general multiplier that reflects typical RTO markups. ACIMA's effective APR can be substantially higher than traditional loans due to this markup.
Key Considerations:
Not a Loan: This is a lease-purchase agreement, not a traditional loan. Your credit history might not be the primary factor for approval, but the total cost is usually higher.
Total Cost: Always compare the total amount you will pay (payments + down payment) to the original retail price. The difference represents the cost of the financing.
Early Buyout Options: ACIMA often offers options to purchase the item early, which can sometimes reduce the overall cost compared to completing the full lease term. Check with the retailer for specifics.
Retailer Specifics: The final terms and pricing are determined by ACIMA in conjunction with the specific retailer. Always review the lease agreement carefully before signing.
Use this calculator as a tool to get a preliminary idea of potential payment amounts. For an accurate quote, you must apply through ACIMA via an authorized retailer.
function calculateAcimaPayment() {
var itemPrice = parseFloat(document.getElementById("itemPrice").value);
var downPayment = parseFloat(document.getElementById("downPayment").value);
var rentalPeriod = parseInt(document.getElementById("rentalPeriod").value);
var resultDiv = document.getElementById("result");
resultDiv.innerHTML = "; // Clear previous results
if (isNaN(itemPrice) || itemPrice <= 0) {
resultDiv.innerHTML = "Please enter a valid Item Price.";
return;
}
if (isNaN(downPayment) || downPayment < 0) {
resultDiv.innerHTML = "Please enter a valid Down Payment (cannot be negative).";
return;
}
if (isNaN(rentalPeriod) || rentalPeriod = itemPrice) {
resultDiv.innerHTML = "Down Payment cannot be greater than or equal to the Item Price.";
return;
}
// — ACIMA Estimation Logic —
// This is a simplified estimation. ACIMA's actual pricing can vary.
// A common RTO markup can be 2.5x to 3x the retail price over the term.
// We'll use an estimated multiplier to calculate the total cost.
// Let's assume a total lease cost multiplier of ~2.8x for estimation.
// And that the rental period implies bi-weekly payments.
var amountFinanced = itemPrice – downPayment;
// Estimate total payments to be roughly 2.8 times the financed amount.
// This factor accounts for the RTO markup and administrative fees.
var estimatedTotalPayments = amountFinanced * 2.8;
// Assuming the rental period (months) translates to bi-weekly payments.
// 12 months ~ 26 bi-weekly periods. So, periods = months * (26/12).
var numberOfBiWeeklyPeriods = Math.round(rentalPeriod * (26 / 12));
if (numberOfBiWeeklyPeriods <= 0) {
resultDiv.innerHTML = "Cannot calculate payments for zero or negative periods.";
return;
}
var estimatedBiWeeklyPayment = estimatedTotalPayments / numberOfBiWeeklyPeriods;
// Display the result, rounded to two decimal places
var formattedPayment = estimatedBiWeeklyPayment.toFixed(2);
var totalCostEstimate = downPayment + estimatedTotalPayments;
resultDiv.innerHTML =
"Estimated Bi-Weekly Payment: $" + formattedPayment + "" +
"Estimated Total Paid: $" + totalCostEstimate.toFixed(2) + "" +
"(Based on " + numberOfBiWeeklyPeriods + " bi-weekly payments over " + rentalPeriod + " months)";
}