For customers

Lease-to-own, explained plainly

Lease-to-own can help when nothing else is available and the purchase cannot wait. It also costs more. Here is how it works, so you can decide with the full picture.

Image to comeAn ordinary, tidy living room in daylight with a new washing machine standing just inside the doorway, its carton folded flat against the wall and no one in the room.

Lease-to-own is a lease, not a loan. You will not own the item until you make all payments or use an early purchase option. The total cost of a lease-to-own agreement is usually much higher than the cash price. Review the total cost before you sign.

What it is

A lease-to-own agreement lets you take an item home now and make regular lease payments. You do not own the item until you have made all the payments or used an early purchase option.

It's a lease, not a loan

Different rules apply to a lease than to a loan. The total cost is usually much higher than the cash price, often [TYPICAL_MULTIPLE].

That is why the cash price and the total you would pay are always shown side by side before you choose.

When people use it

People use lease-to-own when other options are not available and the purchase cannot wait. A car that will not start, a furnace in winter, a bed for a child.

If another option is open to you, compare the totals first. The cheapest option is always at the top of your list.

Ways to lower the cost

Three ways to pay less

Use the early purchase option

If it is offered, buying the item out early can save a lot. Ask for the price at 30, 60 and 90 days.
Pay a deposit

A deposit lets you lease a smaller amount, so the total you pay is lower.
Ask the business

Ask about a cheaper item or a plan done in phases. Many businesses will work with you.

What you'll see in ProLevelUp

Before any lease-to-own offer, you see a full-screen summary. It shows the cash price, the total cost, the difference between them, and your other choices.

You have to choose to continue. Nothing moves forward on its own.

The screen you must pass

Before any lease-to-own offer, ProLevelUp stops and shows you a full-screen summary. It sets out the cash price, the total cost, the difference between them, and your other choices. You have to choose to continue, because nothing moves forward on its own.

Image to comeThe full-screen lease-to-own cost summary with sample data, showing the cash price, the much larger total amount payable, and the difference between the two stated plainly in dollars.

Sample screen for illustration only. Actual offers, terms and costs are set by each provider and depend on your application.

Questions to ask before you sign

What is the total I will pay?
When do I own it?
What is the early purchase price at 30, 60 and 90 days?
What happens if I return it?
What fees apply if I miss a payment?

Ask the company you are signing with. Take the answers home and read them before you decide.

Compare before you decide

See how the whole process works, and learn which credit checks happen and when.

How financing works Your credit

ProLevelUp is a product of Galaxian Inc. ProLevelUp is a technology platform that connects merchants and their customers with independent financing providers. ProLevelUp is not a lender, does not make credit decisions, and does not collect payments. Financing, lease-to-own and other payment options are offered by third-party providers, which set their own terms, rates and fees. Not all applicants will qualify. Availability varies by state; see Licensing and state availability.