RAC Exchange Redefines Consumer Flexibility
and Choice with Exchanges on Rent-to-Own Products
PLANO,
Texas, March 12, 2024 /PRNewswire/ --
Rent-A-Center, a leading rent-to-own company for furniture,
appliances, and electronics, and a business of Upbound Group, Inc.
(NASDAQ: UPBD), today announced the launch of a new,
customer-centric national program called RAC Exchange, a flexible
new way for consumers to shop and engage with household goods and
other items that improve their quality of life. RAC Exchange allows
eligible Rent-A-Center customers to exchange their current product
on rent for another qualifying product within the first six months
following the initial agreement or any subsequent agreement entered
into pursuant to an exchange.
This innovative concept, RAC Exchange, applies the rent paid on
the previous agreement toward the total rent-to-own cost of the
swapped item and a designated percentage of any same as cash
purchase option exercised for the swapped item, making accessing
customers' desired home goods easier than ever. Customers can apply
with Rent-A-Center for an exchange of their rented item and always
track the value of their current agreement in MyAccount when they
sign up on rentacenter.com or on the mobile app. By simply logging
in and finding their current exchange value, customers will see
what rent is eligible to be applied towards their next agreement
for an item they need and how much longer they are eligible for an
exchange.
"RAC Exchange exemplifies Rent-A-Center's continued innovation
in the rent-to-own industry and in the customer experience field,"
said Ann Davids, Chief Customer
Officer and Chief Marketing Officer of Upbound Group, Inc. "By
offering even greater flexibility and value, we aim to redefine the
way consumers engage with products and experience the joy of taking
their time to ensure they've found the right item for their home or
personal needs."
From living room décor to the latest computer technology, the
Rent-A-Center catalog offers thousands of items, with many at the
same weekly rate. The offerings provide a wide range of
possibilities and price points for customers of a wide range of
credit backgrounds to explore while having the flexibility of a
rent-to-own transaction.
For more information about RAC Exchange, including program terms
and conditions, please visit rentacenter.com/rac-exchange.
About Upbound Group, Inc.
Upbound Group, Inc., (NASDAQ: UPBD) is an omni-channel platform
company committed to elevating financial opportunity for all
through innovative, inclusive and technology-driven financial
solutions that address the evolving needs and aspirations of
consumers. The company's customer-facing operating units include
industry-leading brands such as Rent-A-Center® and Acima® that
facilitate consumer transactions across a wide range of store-based
and digital retail channels, including over 2,400 company-branded
retail units across the United States, Mexico,
and Puerto Rico. Upbound Group, Inc., is headquartered
in Plano, Texas. For
additional information about the Company, please visit our website
at Upbound.com.
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SOURCE Rent-A-Center