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5 Top Reasons to Consider Lease-Purchase Programs


As of August 2019, 42% of people in the United States aged between 55 and 59 reported an average credit score of 740. Approximately 30% of Americans have limited financing options due to bad or poor credit. For instance, with a poor credit score, you will not qualify for bank loans.

Fortunately, even with a bad credit score, there is still a way to purchase a product you have been eyeing for long. Lease-purchase programs provide a wide variety of services, from financing electronics to engagement ring financing.

Lease options became popular in the late 1970s. Today, lease-purchase programs have become quite popular as customer financing options. You are able to finance your purchases without financial stress. Read on to learn more about lease to own programs.

Improves your Credit Score

Obtaining a loan for financing electronics can easily lead to a poor credit score. As opposed to banks with high interest rates, lease-purchase programs offer you great financing options. You are able to pay monthly installments for items you would otherwise not pay for upfront.

As such, your credit score is boosted especially if your income is not very high. Lease-purchase programs may take some time but they are worth it.

Spread out Cash Outflow

One of the advantages of lease to own programs is that the payments are spread out over several years. One time cash payment can strain your budget. The initial payment is most times low. However, you can make a larger initial payment, which will translate to reduced monthly payments.

Lease-purchase programs are flexible and a great way of financing electronics. You are provided with a financial planning tool. Once you make the initial payment, you embark on paying the monthly or weekly installments. You cultivate self-discipline which is key to managing your finances.

Better Deals

Under lease to own programs, as you continue to make your payments on time, you get higher lease-purchase limits. You are, therefore, able to purchase better products. Furniture financing, jewelry financing, HVAC financing, and laptop financing are some of the deals that lease to own programs offer.


Leasing is one of the most convenient ways of financing assets. You are able to avoid restrictions that come with long term borrowing. Leasing programs do not require tedious paperwork. As such, you can get an asset worth $250,000 the day after completing a one-page application. When it comes to other traditional programs, it may take weeks or months.

Reduced Risk of Obsolescence

Leasing for your computer financing is a great option because you keep up with recent trends. You can lease an asset for a fixed period, then upgrade it if necessary.

Lease-purchase providers ensure that they are up to speed with emerging technology so as to offer the best products. Assets are frequently replaced according to the market trends.

Tax Benefits

Her Majesty’s Revenue and Customs (HMRC) states that only a lessor can claim capital allowances on a leasing agreement. As such, the lessor can deduct a particular percentage of the cost that comes with purchasing an asset. Capital allowances apply to hire purchase, outright purchase, and under long funding leases.

Final Thoughts

Don’t let bad credit prevent you from purchasing what you have always wanted to own. Lease-purchase programs will play a key role in financing electronics and furniture, among other finance options.

Okinus contractors provide families with fast and flexible options to lease high quality merchandise. If you are looking for a reputable company offering reliable lease-purchase programs, contact us today.

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