Before you Apply - Read on to Learn all about LTO

For MUST HAVES, not nice to haves...

All of us have times where we need to make payments for something essential (broken appliances, bald tires, unfurnished home) and don't have enough to do so. This is the primary reason to choose lease-to-own. If you are confident you can pay off in 90 Days (or within another early buyout window that saves you money), then lease-to-own is a good option when you need to make payments without pinging your credit.

You don't have cash or enough credit balance

You may not have enough cash on hand to cover a large essential purchase. Or, you may not be able to obtain a traditional line of credit. Lease-to-Own approvals are not dependent on your credit score, so LTO can make sense in these situations.

You are certain you can pay off the full amount in 90 days

Most Lease-to-Own providers will put you on a 12 month payment schedule on default. You'll need to call to setup a schedule that pays the entire balance off within the 90 Day Early Buyout Window to be eligible for that discount.

*For example, $1,200 in merchandise would require at least $400 per month, with the final payment clearing before the end of the 90 Day Buy Out deadline in your lease.

Payments that You can Afford

Before you enter into a lease-to-own contract, you should know:

1.  What will this cost me monthly?
   (to convert weekly payments to monthly, multiply by 4.33)
2.  What will this cost to pay off in 90 days?
3.  What will this cost if I go full term?

A Good Offer, or a Trap?

Most customers who sign up for Lease-to-Own aren't able to pay off the lease within the first Early Buy Out window. How much you'll pay afterward varies, but it can be close to double even if you just miss the deadline by a single day.

It's not actually Same as Cash*

All Lease-to-Own providers need to cover their own costs and will either have a higher Buy Out price or will charge you an Early Buy Out fee in addition to the cash price, even within the 90 Day* window.

(*except for 3 month Buy Out in CA)

You Must Know Your Deadline

Always ask the LTO Customer Service Agent when the Early Buy Out deadline is. It may be from the day you sign the agreement, or more commonly, the day your merchandise was picked up or delivered.

At the Store You Are Set Up to Pay over 12 months, not 90 days

Most Lease-to-Own providers require you to call at the beginning of your lease to choose the payment plan that sets you up to buy out within the Early Buyout deadline. Many customers are mistaken in thinking that they are on a 90 day payment plan when they are actually on a 12 month or longer payment plan that won't pay enough within the 90 days.

Know what you will pay if you miss your Early Buyout Deadline

If you are even a day late, Lease-to-Own contracts typically will charge you leasing costs of the full term, increasing the original Early Buy Out price by double or more. Take a look at your contract to see if there are any other Early Buy Out offers to take advantage of  (Depending on your State of residence, there are discounts that LTOs must offer).