How is a lease different than a credit transaction, financing, or a loan?

Progressive Leasing’s lease-to-own option is not credit. With a credit transaction, financing, or a loan, you make a purchase with borrowed money that must be repaid, often with interest. 

With a lease-to-own agreement, we purchase the items you select from the retailer. Then, you sign a lease-to-own agreement to lease that merchandise from Progressive. 

Progressive owns the merchandise, and you take ownership after making all standard lease payments or through an early purchase option.

*Total Cost of Leasing = Price of the item + Cost of Leasing + Tax