Short answer: Yes, Progressive Leasing is a legitimate lease-to-own company. It is not a scam, is not a fly-by-night operation, and is a real financial services subsidiary of a publicly traded U.S. corporation. But "legitimate" answers the wrong question for most people asking. The real question is whether Progressive Leasing is a smart choice for your specific situation — and that answer depends on how you use it.
Company Background: Who Actually Runs Progressive Leasing
Progressive Leasing operates under Prog Leasing, LLC, a subsidiary of PROG Holdings, Inc. (NYSE: PRG), a publicly traded company. It was founded in 1999, spent years as part of Aaron's, Inc., and became part of the independent PROG Holdings entity following a 2020 corporate restructure. As a public-company subsidiary, The lease-to-own program files regular financial disclosures with the SEC and operates under U.S. state consumer leasing regulations.
The company's headquarters are in Draper, Utah. It employs thousands of people across corporate operations, customer service, underwriting, and retail partnerships. The program partners with more than 30,000 retail locations in the United States.
Regulatory History: The 2020 FTC Settlement
In 2020, Progressive settled a Federal Trade Commission enforcement action alleging that certain marketing materials misrepresented the total cost of the lease-to-own program to consumers. The settlement required The provider to pay $175 million to affected consumers and to change certain marketing practices. Following the settlement, It updated its disclosures to more prominently show the total 12-month cost and the availability of the 90-day early purchase option.
Regulatory action in the lease-to-own industry is not unusual — the industry has been under sustained scrutiny from state attorneys general, the FTC, and consumer advocacy groups for years. The company's settlement is one data point among many in that broader regulatory landscape.
Is Progressive Leasing Legit? Common Reasons People Ask
"The total cost seems really high"
This is a legitimate observation, not a sign of a scam. The LTO program's 12-month standard total is meaningfully higher than the retailer's cash price. This is disclosed upfront in every lease agreement, but it's easy to underweight in the moment. The high total is why the 90-day early purchase option matters so much — used correctly, it keeps your total cost close to the cash price.
"I didn't understand what I was signing"
This is also a legitimate concern, and it's been a persistent criticism of the lease-to-own industry generally, not just The service. In-store sign-ups can be quick, and the difference between a lease-to-own agreement and traditional financing is not always emphasized. Read every line of your lease agreement before signing. If the retail associate cannot answer a specific question about the total cost or early purchase options, do not sign until you get answers from The lease-to-own program directly.
"My credit was harmed"
The program does obtain information from credit bureaus during the application. The specific inquiry type can vary. In addition, seriously delinquent lease accounts (typically 90+ days past due) may be reported to credit bureaus, which can damage your credit score. On-time payments are not typically reported, meaning Progressive does not help build credit.
"I couldn't reach customer service"
Customer service accessibility has been mixed in public reviews. The provider customer service can be reached, through account.progleasing.com, or through the mobile app. If you have difficulty reaching them, call during off-peak hours (mid-morning weekdays) and have your lease number ready to speed resolution.
What Progressive Leasing Does Well
- Approval accessibility. It genuinely approves applicants who cannot access traditional financing. The no-credit-needed positioning is real for many customers.
- Retailer breadth. With 30,000+ participating retail locations, Progressive Leasing works at most major furniture, electronics, mattress, and jewelry retailers as well as thousands of independent shops.
- Return rights. Unlike a credit card purchase, you can return leased items and cancel your lease without penalty (paying only accrued costs through the return date).
- Speed. Application decisions are typically instant, and you can take items home the same day.
- Disclosed early purchase options. The 90-day option is real and meaningfully reduces your total cost if you execute it.
Where Progressive Leasing Is Not the Right Fit
- If you have good credit and qualify for the retailer's 0% APR promotional financing, that's typically the lower-cost path.
- If you cannot commit to the 90-day early purchase option, the 12-month standard total will substantially exceed the item's cash price.
- If you're primarily trying to build credit, Progressive Leasing is not the tool for the job — consider a secured credit card or credit-builder loan instead.
- If you're in Minnesota, New Jersey, or Wisconsin, Progressive Leasing is not available.
Editorial Verdict
Progressive Leasing is a legitimate, established, regulated lease-to-own provider. It is not a scam. It serves a real consumer need — providing access to durable goods for customers who cannot qualify for traditional financing.
Whether it is the right financing choice for you depends on one question: can you realistically execute the 90-day early purchase option? If yes, Progressive Leasing is a reasonable way to spread a needed purchase across a few pay periods at a modest cost premium. If no, the standard 12-month cost is significantly higher than what most alternatives would charge.
Read our full how it works guide and our 90-day option deep dive before you sign anything.