Progressive Leasing Frequently Asked Questions

Progressive Leasing is a U.S. lease-to-own provider that partners with over 30,000 retail locations. Progressive purchases eligible items from participating retailers on behalf of customers and leases them to the customer with an option to own after completing scheduled payments or exercising an early purchase option. Progressive Leasing is a subsidiary of PROG Holdings.

No. The lease-to-own program is a lease-to-own agreement, not a loan. There is no APR. Instead, the total 12-month lease cost is disclosed upfront and is higher than the retailer's cash price.

Yes. Progressive is a legitimate company operating in the U.S. lease-to-own industry since 1999. It is a subsidiary of publicly traded PROG Holdings, Inc. and operates in most U.S. states (excluding MN, NJ, and WI). The company has been subject to regulatory oversight, including a 2020 FTC settlement regarding certain marketing claims.

You need to be at least 18 years old, have a valid Social Security Number or ITIN, an open and active checking account, a credit or debit card for the initial payment, and a verifiable source of income.

The company does not require a specific credit score. It pulls information from credit bureaus but weighs multiple factors including income, banking history, and other data points. Applicants with limited or damaged credit are regularly approved. Not all applicants are approved.

The service obtains information from credit bureaus during the application. Whether that appears as a soft or hard inquiry can vary. You can contact The lease-to-own program customer service to confirm the type of inquiry used in your specific application flow.

The program typically approves spending amounts between $200 and $5,000. The specific amount depends on income, banking history, requested amount, and state of residence.

The Progressive application typically takes 3–5 minutes to complete online or through the mobile app. Decisions are returned within seconds to minutes.

Weekly, bi-weekly, semi-monthly, or monthly. Choose the frequency that aligns with your payday to reduce the risk of missed payments.

Your first recurring payment is scheduled for your next payday after item delivery, with a minimum 10-day gap. Your initial payment (paid at signing) is separate.

Yes. You can make one-time payments through your online account or the It app. Card payments apply to your next scheduled payment; ACH payments apply to the remaining lease balance. To execute an early purchase option, call The company.

A missed payment triggers a returned payment fee from The LTO program and typically an NSF or overdraft fee from your bank. The service will attempt to redraft the payment. If you know a payment will bounce, call customer service in advance for options.

The program does not typically report standard on-time payments to major credit bureaus. Seriously delinquent accounts or accounts sent to collections may be reported.

The 90-day early purchase option lets you pay off your lease within 90 days of the lease start date for approximately the retailer's cash price plus a small processing fee — typically around 5% of the cash price. This is the lowest-cost path to ownership.

Call Progressive before the 90-day deadline. Retailers cannot process early purchase payoffs; only The provider can. Ask specifically for the 90-day early purchase option and confirm the payoff amount before authorizing the payment.

No. Large one-time payments through the standard payment portal do not automatically trigger the early purchase option. You must actively contact It to execute the 90-day payoff at the correct amount.

Yes. You can cancel your The company lease and return the merchandise at any time without penalty. You owe only the unpaid lease costs accrued through the return date. Contact The LTO program customer service to initiate a return.

For online purchases (like Best Buy), contact Progressive Leasing first to coordinate the return with the retailer. The specific return process varies by retailer.

Progressive Leasing's lease-to-own program is not available in Minnesota, New Jersey, or Wisconsin. In Puerto Rico, it is available in-store only.

Durable goods for personal, family, or household use: furniture, electronics, mattresses, appliances, jewelry, tires, wheels, mobile devices, musical instruments, and more. Excluded categories include consumables, items permanently attached to a home or vehicle, and items prohibited by state law.

Progressive Leasing customer service can be reached, or through your online account at account.progleasing.com or the Progressive Leasing mobile app. For questions about a specific lease, have your lease number ready.

Visit account.progleasing.com or open the Progressive Leasing mobile app and sign in with the credentials you created during your application.