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Georgia Appliance Store Ditches Competitor and Adopts Acima Credit, to the Benefit of their Bottom Line

Howard’s Appliance of Augusta, Georgia sells refrigerators, freezers, stoves, dishwashers, microwaves, washers, dryers, and more. Historically, the company has seen its fair share of customers who were unable to buy because of damaged and thin credit files. “We have quite a few customers who can’t get approved anywhere else,” says Brad Durham, sales manager for the store. “They come in looking for something we just don’t have in their price range.” Howard’s was turning these would-be buyers away.

Howard’s stint with an Acima competitor

Howard’s needed a financing solution for these credit-denied customers, so, the store brought in a lease-purchase provider (not Acima). In short order, the sales staff were frustrated with this provider. “Their system’s all messed up,” Durham notes wryly. “The website freezes, and I can hardly get anyone from the company on the line.” Furthermore, the self-proclaimed no-credit-needed financier was only approving “1 in 15” applications, according to Durham. “I could hardly get anyone approved.”

Discovering Acima Credit

Howard’s discovered Acima Credit in mid-2017, a juncture of peak dissatisfaction with their old lease-purchase provider. With Acima, the store discovered a significant increase in usability and service over the other firm and decided to use Acima as their go-to for no-credit-needed financing. Referring to the other, now-dethroned financing company, Durham states that “I don’t even offer them anymore.”

Of Acima, Durham has become an enthusiastic proponent. “I’m always wearing the Acima lanyard,” he says. “I use them all the time.”

Benefits to customers

Pre-Acima, customers “might come in looking for something really cheap,” knowing their credit score to be sub-par but having little cash. In seeking the cheapest appliances possible, however, these shoppers were in the wrong store: Howard’s doesn’t compete for rock-bottom prices. “We just can’t sell it for what they want it for.”

Acima’s No Credit Needed financing now allows many of these shoppers to get something of greater quality—perhaps even better than they would have imagined possible. “With Acima, if they don’t have the money to buy it, we can tell them, ‘Sorry, we can’t do that, but we do have a program that you can get what you need today and make payments.’” Many of them “go for it,” says Durham. “And they can get something a little nicer for themselves than what they had originally planned on.”

Benefits to Howard’s Appliance

Howards has done 131 leases YTD in 2018* and has averaged $15,000 per month in Acima-financed business**. “Acima is great,” Durham says. “I never have any problems, and the customer service is terrific.” He’s a proponent of Acima to other businesses as well. “I’ve started recommending Acima to people to get signed up so they can use it for their customers as well. I’ve recently recommended it to two other businesses.”

Thanks to Brad Durham and Howard’s Appliance for your support of Acima Credit!

Acima Credit empowers customers and merchants with No Credit Needed point-of-sale financing solutions underwritten by machine learning technology. Customers love the expanded purchasing power that Acima provides. Merchants love expanding their business into underserved demographics at no additional cost to them. Both customers and merchants applaud the speed, ease, and convenience of the Acima application process. Acima is powered by proprietary artificial intelligence software and a world-class team of technologists and support staff. We’re in the business of expanding options for customers and merchants alike.

*As of mid-May 2018. Individual results will vary.
**Year-to-date as of mid-May 2018. Individual results will vary.

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