How Aaron's Payment Plans Work and What Happens If You Miss a Payment
What Aaron's charges and how their payment system works
Aaron's is a rent-to-own retailer that lets you take home furniture, appliances, electronics, and other goods immediately and pay for them over time through weekly or bi-weekly payments. You do not own the item until you complete all payments or exercise an early purchase option. Aaron's sets the payment schedule and price when you sign the agreement — the total cost is usually higher than buying the same item outright, sometimes significantly higher.
Payments are typically due on the same day each week or every two weeks, depending on your agreement. Aaron's collects payments through automatic bank withdrawals (ACH), in-store payments, or phone payments. The company reports payment history to credit bureaus, so on-time payments can help your credit score, but missed or late payments will hurt it.
Aaron's rental agreements are not the same as a loan or credit card. You are renting the item with the option to purchase it. If you stop paying, Aaron's can repossess the item without going to court in most states — this is a key difference from traditional financing. The repossession does not erase what you owe; Aaron's can pursue you for the remaining balance.
Key Takeaways
- Aaron's payments are collected by automatic bank withdrawal on a set day each week or every two weeks, and you can change your payment method by contacting the store or calling customer service.
- Missing even one payment can trigger a repossession notice, and Aaron's can take back the item without a court order in most states.
- Late fees and collection costs are added to your balance if you miss a payment, and the total amount owed grows quickly.
- You can pay off your agreement early and own the item outright, or return it to Aaron's to end the contract, though you may still owe a balance depending on the terms.
- If you fall behind, contact Aaron's immediately — many locations offer payment deferrals, skipped payments, or restructured plans to help you catch up.
How to make an Aaron's payment and change your payment method
Your payment is due on the same day every week or every two weeks. Aaron's withdraws the payment automatically from your bank account unless you chose a different payment method when you signed your agreement. Check your rental agreement or your Aaron's account online to confirm your exact due date and payment amount.
To change how you pay, log into your Aaron's account on their website or mobile app, call the customer service number on your agreement, or visit your local Aaron's store. You can switch from automatic bank withdrawal to in-store payment, phone payment, or online payment through their website. If you change your payment method, confirm the new due date and make sure the first payment under the new method goes through on time.
Set a reminder on your phone or calendar for two days before your payment is due. This gives you time to make sure the money is in your account if you pay by automatic withdrawal, or to make the payment in person or by phone if you prefer.
What happens if you miss an Aaron's payment
If your payment is not received by the due date, Aaron's will charge you a late fee — the amount varies by state and by your agreement, but it is typically $10 to $20 per missed payment. The late fee is added to your balance. Aaron's will also attempt to contact you by phone, email, or mail to remind you that a payment is overdue.
If you miss a payment by more than a few days, Aaron's may send you a repossession notice — a formal letter stating that they intend to take back the item. In most states, Aaron's does not need a court order to repossess; they can send someone to your home or workplace to retrieve the item. Once the item is repossessed, it is removed from your account, but you still owe the remaining balance on your agreement plus repossession fees, storage fees, and any other costs Aaron's incurred.
Repossession damages your credit score and stays on your credit report for seven years. It also makes it much harder to rent or finance anything else in the future. If you receive a repossession notice, contact Aaron's immediately — do not wait.
Your options if you cannot make a payment
Call Aaron's customer service or visit your local store as soon as you know you will miss a payment. Many Aaron's locations offer payment deferrals (skipping one or more payments and adding them to the end of your agreement), payment restructuring (lowering your weekly or bi-weekly payment amount and extending the agreement), or temporary payment plans (reducing your payment for a set number of weeks while you recover). These options are not may provide, and availability depends on your location and your payment history, but Aaron's prefers to work with you rather than repossess.
If you cannot catch up and do not want to keep the item, you can return it to Aaron's and end the agreement. However, returning the item does not erase what you owe. If you have paid less than the item's depreciated value, you may still owe a balance — this is called a deficiency. Aaron's will pursue you for this amount through collection calls, letters, or a lawsuit. Check your agreement to understand what happens if you return the item early.
If you are struggling with multiple debts, contact a nonprofit credit counselor through the National Foundation for Credit Counseling (NFCC) at 1-800-388-2227. They can help you create a budget and negotiate with creditors, including Aaron's, at no cost or low cost.
How Aaron's reports payment history to credit bureaus
Aaron's reports your payment activity to credit bureaus (Equifax, Experian, and TransUnion) each month. On-time payments show up as positive marks on your credit report and help build your credit score. Late payments, missed payments, and repossessions all appear as negative marks and lower your score.
A single missed payment can drop your credit score by 50 to 100 points or more, depending on your current score and credit history. The damage is worst in the first few months after the missed payment, but the mark stays on your report for seven years. This affects your ability to get a car loan, mortgage, credit card, or even a job that requires a credit check.
If you have missed a payment but Aaron's has not yet reported it to the bureaus, catching up immediately may prevent the damage. Once it is reported, you cannot remove it, but the impact lessens over time as you build new positive payment history.
Early payoff and ownership options
You can pay off your Aaron's agreement early and own the item outright. The amount you owe to pay it off is listed in your agreement and is also available through your Aaron's account online or by calling customer service. Paying early saves you money because you avoid future payments and interest charges.
Some Aaron's agreements include an early purchase option — a set price you can pay at any time to own the item immediately, even if you have only made a few payments. This price is usually much lower than the full remaining balance. Check your agreement to see if this option is available and what the purchase price is.
If you own the item outright, Aaron's has no claim to it and cannot repossess it. You also stop building credit history with Aaron's, so if you were using the payments to build credit, paying off early ends that benefit.
Understanding your Aaron's rental agreement
Your rental agreement is a legal contract that spells out the payment amount, due date, total cost, what happens if you miss a payment, and your rights and responsibilities. Read it carefully before you sign. Key sections to understand include the payment schedule (how much and how often), the total cost (what you will pay in total by the end of the agreement), the early purchase option (if available), and the repossession clause (what Aaron's can do if you miss a payment).
Keep a copy of your agreement at home and refer to it if you have questions. If you cannot find your agreement, Aaron's can provide a copy through your account online, by phone, or in person at your local store. Do not sign anything you do not understand — ask the Aaron's associate to explain any terms before you agree.
Frequently Asked Questions
Can Aaron's repossess my item if I am only one day late?
Aaron's can legally repossess after one missed payment in most states, but they typically wait a few days and send a notice first. However, do not rely on this — contact Aaron's immediately if you miss a payment. The longer you wait, the more likely repossession becomes.
What if I pay my Aaron's payment late but before they repossess?
Late fees will be added to your balance, and the late payment will be reported to credit bureaus. Your account will be brought current, but the damage to your credit score is already done. Future late payments will continue to hurt your score.
Can I negotiate the total cost or payment amount after I sign?
The payment amount and total cost are set when you sign the agreement and cannot be changed unless you contact Aaron's to request a payment restructuring or deferral. These options are available if you are struggling, but they extend your agreement and increase the total cost.
Does paying off my Aaron's agreement early help my credit score?
Paying off early stops new positive payment history from being reported, but it does not hurt your score. The on-time payments you made before paying off remain on your credit report and continue to help your score for years.
What if Aaron's sues me for a deficiency after repossession?
If Aaron's wins a lawsuit, they can garnish your wages, place a lien on your bank account, or take other collection actions. You have the right to respond to the lawsuit in court. If you receive a court notice, contact a legal aid organization in your state or a lawyer immediately — do not ignore it.