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How Lease to Own Programs Benefit Budgets and Low Credit Scores


Nearly 30% of Americans are living with bad or poor credit. Credit like this can make buying essential things such as furniture a challenge. However, thanks to lease-to-own options, millions of Americans have an option to furnish their homes while also rebuilding their credit.

How Lease to Own Can Help

Lease to own refers to an agreement made between the purchaser and the owner or finance company. This agreement allows the purchaser to procure the items they wish to lease and make payments on overtime. Eventually, the purchaser will become the sole owner of the property once the agreed-upon amount is paid in full. For people struggling with low credit, this can be a great option to both procure the items they need for their homes while also improving their credit scores as they pay.

The largest benefits that lease to own programs can provide include:

  • Flexibility
  • No long-term contracts or commitments
  • No refusal due to poor credit
  • Budget-conscious payment plans
  • Little to no money due upfront

Many lease-purchase programs will allow customers without credit to lease up to $8,000, while also providing multiple lease options that can help tailor monthly payments for any budget.

Similarly, many feature early payment options that can make them appealing to even those with good credit. Ninety-day early payment options offer customers the chance to pay off the amount owed in either weekly amounts or as a lump sum. The benefit of this is that customers will usually get a percentage off if they pay within the first 30, 60, or 90 days. The percentage off offered by early payment options can be anywhere from 5% to 15% depending on when you pay. This quick payment option, coupled with the percentage off, can make lease to own very appealing, even to those with above-average credit scores.

More Than Furniture

Everyone, regardless of credit score, deserves to have quality home furnishings available to them. No credit needed financing is a great option for those looking to improve their homes while also improving their credit scores. Many lease to own services also provide much more than furniture. While home furnishings are by far one of the most popular leased options, some companies will also provide appliances, electronics, and HVAC equipment. This means that, even with low credit, you can afford to replace your water heater if it goes out or purchase a computer for work or school, all without breaking the budget. These are large purchases that can often set families back months, even with savings. However, thanks to lease-purchase programs you can take advantage of these items without worry.

If you are struggling with a low credit score and a tight budget, consider looking into a lease to own program that can help you invest in the items your home and family needs. Contact Okinus today, or apply online, to get started and take advantage of the benefits that leasing can provide.

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