Progressive Leasing and Acima are two of the most established lease-to-own providers in the United States. Both offer no-credit-needed approval, similar early purchase economics, and broad retailer coverage. The choice between them often comes down to which retailer you're shopping at and which underwriter offers you the better approval amount.
At a Glance
| Feature | Progressive Leasing | Acima |
|---|---|---|
| Parent company | PROG Holdings, Inc. (NYSE: PRG) | Aaron's Inc. affiliate |
| Approval range | ~$200 – $5,000 | ~$300 – $5,000 |
| Credit history required | No | No |
| Retailer network | 30,000+ locations | 15,000+ locations |
| Standard lease term | 12 months | 12 months |
| Early purchase option | 90-day at ~cash price + fee | 90-day early purchase available |
| Mobile app | Yes (iOS/Android) | Yes (iOS/Android) |
| State availability | Not in MN, NJ, WI | State exclusions apply |
| Product categories | Furniture, electronics, mattresses, jewelry, tires | Similar broad categories |
Retailer Network Differences
The most important practical difference is which retailer you're shopping at.
- Progressive Leasing dominates the retail electronics category through Best Buy, has strong mattress coverage through Mattress Firm, and covers a wide range of jewelry stores (Kay, Zales, Jared).
- Acima has strong penetration in independent furniture retailers, some appliance categories, and various e-commerce merchants. Acima was originally focused on the furniture channel and continues to have deep partnerships there.
- Many retailers offer both providers at the point of sale, letting you apply to either or both.
Cost Comparison
Both providers use similar total-cost structures. The key thresholds are essentially the same:
- Both target ~5% above cash price for early purchase (~90 days)
- Both approximately double the cash price at the full 12-month term (or more, depending on state)
- The economics of both providers are driven by the same underlying assumption: some customers will pay off early, others will carry to term, and the pricing reflects that mix
Your actual cost depends on the specific lease you sign, not on the provider brand. The lease-to-own program and Acima are competitive on cost at similar terms.
Application Process Differences
Both providers offer online, mobile app, and in-store applications. The process is nearly identical:
- Provide identity (SSN or ITIN), income, banking information, and a payment method
- Receive an instant decision along with an approval amount
- Shop at the participating retailer up to the approval amount
- Review and sign the lease agreement
- Make the initial payment and take home your items
Both providers verify banking and income before approval. Both use their own proprietary underwriting model.
Which Should You Choose?
Choose Progressive Leasing if:
- You're shopping at Best Buy, Mattress Firm, or a Signet jewelry brand (Kay, Zales, Jared)
- You've had a positive prior relationship with The program that increases your approval amount
- You're a California resident interested in the 3-month cash-price payoff option
Choose Acima if:
- You're shopping at an independent furniture retailer where Acima is the primary LTO partner
- Your specific retailer offers Acima but not Progressive Leasing
- You've been declined by Progressive Leasing and want to try a different underwriter