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Why Lease to Own Financing Is Becoming Popular with Millennials


About a third of Americans have poor or bad credit. Millennials who were born between 1980 and 1996 have student debts, car payments, and other loans to service. Even though they love the finer things in life, like vacations and a nice home, their financial obligations prevent them from making these purchases.

Surveys show that 60% of millennials have a student loan. Many of them use their credit cards to shop and end up sliding further into debt. With bad credit financing, it is possible to acquire new furniture without further hurting your credit score. Here’s why this type of financing for furniture and appliances is popular with millennials.

The Convenience of Lease to Own Programs

According to Ad Week, millennials are increasingly renting appliances and household goods. The top reasons for renting include acquiring items for temporary housing and avoiding the high upfront costs. Young women were more likely to choose jewelry financing while men sought to acquire tools and gaming systems.

For those who need furniture financing for temporary housing, they cannot afford to wait months for approval. The advantage of this type of no credit needed financing is that the transactions are approved immediately.

Currently, companies like Okinus can provide up to $5,000 without any credit score requirements. Most customers do not require any form of documentation to complete the application and take their purchases home.

Millennials Love Flexibility

Another characteristic associated with young members of Generation Y is flexibility. Their willingness to change aspects of their lives is evident from how they change their jobs and careers. Millennials have been called the job-hopping generation. Up to 21% of respondents in a Gallup poll saying that they changed their jobs at least once in the last year. Simply put, young people are increasingly looking for options that will fit with their lifestyle.

As the members of Generation Y keep changing jobs, the more they see sense in bad credit financing. You can acquire furnishings for your house, with little or no down payment and fast processing that allows you to settle as soon as you can.

Rent to Own for Startups

Acquiring furniture with no credit requirements is advantageous to millennials who are looking to start their own companies. With constrained budgets, startup companies need to get financing for appliances and furniture to get their new office running.

Many entrepreneurs love lease-purchase programs because repayment periods are flexible, with companies, such as Okinus, offering 12 to 24 months terms. Startups can get quality furnishings and appliances for their modern offices without being weighed down by obligations. It allows young managers and CEOs to focus on other aspects of their business without constantly worrying about finances.

Affinity Toward Technology

It’s no surprise that Americans love technology. According to Pew Research Center, more than nine in 10 millennials have a Smartphone. That is compared to only 68% of Baby Boomers who have a Smartphone. Additionally, their use of social media and other digital platforms is just as high compared to the other age groups.

Naturally, many millennials gravitate to lenders and lease-purchase programs that use technology to enhance service delivery. Whether it is the initial application or making monthly repayments, young people do not want to be bogged down by old and outdated techniques that take up their time. Okinus credit solutions provide an online platform to make applications, repayments, and get their questions answered.


Bad credit financing is an option that is suitable for people from different age groups and backgrounds. However, there are many advantages to alternative credit for young people. Surveys and studies indicate that many millennials are increasingly considering alternative options that are more convenient. As long as they apply due diligence before signing for contracts, millennials can benefit in many ways from this type of furniture financing.

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