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I know that the fact that I don’t have good credit that I will be paying more for things to get financing, that is something I have come to terms with. I used them a few years ago to buy a computer and I was happy with the outcome. I borrowed $700 the first time (that is all that I was approved for) and it covered the cost of what I wanted. I still have the computer and now I’m buying a brand new one and I was approved for $1875 (won’t spend that much, lol). I think I got approved for more money because I went through my first contract without missing any payments.
After the 1st computer was paid for I haven’t had any issues with them charging me money or anything. They still had my checking account info because when I did my second application the account info was already populated. I have never had to contact them except when I Had a problem setting up my online account. I love that they are here for those of us that have credit problems. And paying more to borrow because of bad credit is a fact of life that everyone needs to come to grips with. If you deleted all of the “they charge too much” bad ratings they would probably have 99% 5 star ratings.
I just went through a divorce and had no furniture for my new place. They approved me and my crap credit with no problems. I took the 90 day sac option. I probably called them 3-4 times because of my terrible money managing skills and asked them to please move my final payment date back without charging me the $4k in extra interest for not paying my last 90day sac payment as agreed.
I’m starving music artist singer songwriter and trying to relaunch and rebrand my successful business. I stopped working in one state due to health problems and a divorce in the new state I moved to. So trying to manage money with all these balls rolling in my life and health issues and being in my own for the first time and I didn’t have to ever worry about money as much before was very very hard for me. The people at this company was nothing but kind to me every time and I’m so grateful for this company! When I make it in my music career I literally want to be your spokesperson lol. That’s how much I love you guys!
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So the key to using this company is to 1) opt for a 90-day lease agreement and 2) understand it has to be paid off before or on the due date. The 90-day lease is cheaper than acquiring those high-interest fees but IF YOU CAN'T AFFORD IT, YOU SHOULDN'T BE BUYING IT. Please take that into consideration when purchasing for wants, not needs. Anywho, so let's say the agreement is 90 days for $900, your biweekly payments should be about $150. But understand that the tax on that payment is not included in the payoff so the actual amount is more like 140. 6 weeks of payments of 140 is 840, not 900.
This is where I think the misunderstanding of payments is. Ok, so now it comes to the deadline for the 900 and you have payments coming out through direct deposit. All you need is 60 to pay it off so it shouldn't be a problem, right? Wrong! Typically that takes to 2-3 days to take money out of a checking or savings. This is how people miss their deadlines. That 60 should be paid off before the last day of agreement not on it. Basically, pay the last amount due over the span of the agreement as you pay the biweekly payments and you shouldn't have a problem.
Had moved into a new apartment with my wife last September. We needed a new couch and had looked at Big Lots. I just started a new job so I didn't have the cash to fork down on a brand new cash although I could afford bi weekly payments. Big Lots had told me about the lease to own option which allows me to purchase the couch within 90 days of the start of my lease. I was on board and went with that option, fast forward a month... They do not really tell you to switch to the Lease to Own option unless you ask or are already aware of this option. I looked into the account and found that the total cost of the couch was way more than what I was supposed to pay. I give them a call and have my account switched to the Lease to Own, after 3 months I had the couch paid off.
About 4 months later, I needed a new mattress. Knowing how expensive mattresses could be I was looking at an affordable one. I went to Mattress Firm and found the mattress I liked. After discussing with the salesperson, I found that the mattress I wanted was nearly $800 after everything is said and done. I found out through the salesperson that Progressive Leasing was an option and having already went with them for the couch I purchased I decided to do it again. I've been paying on the mattress and should have it paid off in less than a month. I already switched my account to the Lease to Own option. Couldn't be happier with the lease to own option from Progressive Leasing.
This is for the people curious or skeptical about Progressive Leasing. Ok so back story first. I went to Best Buy, got denied for their credit card, and so basically they said there was also a leasing option where they don't go by your credit score. So I ended up choosing the Progressive Leasing. I was feeling so good about it because I wanted this camera Bad, and didn't have $1,300 to pay for it. So now I'm happy and will have it paid off soon, so thank you Progressive I am enjoying the Amazing camera. So let me answer the Bugging questions I'm seeing, and explain how this works... I'll leave bullet points. Here goes.
*Select stores have Progressive Leasing. Best buy, Overstock.Com I hear big lots, Kay Jewelers, Fry's Electronics and more. Not everyone has it. Not every Best Buy or Fry's has it, for example. *You go in and apply, and make SURE you have a work history of I believe 2-3 years, and your bank account info that this money has been going to, and an ID. If you use an account that is not very active, you can be denied! They want to know how often you get paid and roughly how much you get paid BEFORE taxes... *They will ask your social, and Make Sure your debit/credit card MATCHES your name on your id... etc.
*They will give you a credit limit, now with this, you can choose anything you want in the store within that limit. Obviously. And you can get items or 1 item, and you will pay a $85 deposit. Some places charge less. (This deposit is for Progressive. Not sure if it goes towards the product. I don't think it does.) *Ok now you paid deposit, and you have your items. Congratulations. If not, find a friend with active work experience or family that trust between you two.
Payments, and the lease... Here's where it gets good. *You can go to the app, or website for Progressive Leasing, and there create an account using your social. It will show you your balance you owe, (which is the 90 day buyout option), and when your next payment is due. First payment usually isn't due until about 10 days later. They are aiming for your direct deposit from your job. *YOU NEED TO PAY OFF YOUR BALANCE FOR THE ITEM(S) WITHIN 90 DAYS or you will have hella fees to pay. HELLA fees. Now, you have a minimum balance they will automatically withdraw for 1 year! But you can't let this happen!!! This is only the Minimum balance and will NOT cover only 90 days with of payments to have it paid off to avoid the charges...
So you, can go ahead when you're ready and make A payment SOON! So let's say your payment is due in a week... they will withdraw $ how much $ in 1 week from today... You can go ahead and pay that payment down NOW, and it will go towards your payment due date... Ex... Let's say I owe $1,400 for my item... and my next due date is in a week for $115 (Bi weekly). I can make a payment of eh, $20 now... Ok click done. Now, my next payment is now $95. And my early 90 day buyout is now $1,380. So come this bill in a week, it will be less than it Normally would have been, and they will withdraw whatever that is. BUT, WHAT IF I HAVE THE OPPORTUNITY TO PAY MY ENTIRE NEXT PAYMENT DUE, NOW (and maybe then some).
Ok so you end up paying that $115 ahead of time... Guess what, you don't have a payment to make until the NEXT bill... that payment will disappear off your account, and the NEXT PAYMENT DUE date will be present. So I HIGHLY recommend you pay as much as you can, because not only will it knock your payments off, it will knock your Total purchase price down, and you need to pay it off in 90 days. It will feel good to make even a small payment, and watch your pay off amount go down. But! If you have only been Paying the minimum payments, you will be paying past the 90 days and will be **. Pay MORE than the minimum payments due. You can make as many payments as many times as you want, and it will keep lowering your buyout. This way once you pay it off inside of 90 days, you will own it.
Here's some extras I learned from using this program... *If you go to a, say Best Buy, get approved for a balance but they don't have the product, they will order it and have it shipped to your house... you choose the shipping option. (First payment is not until about 10 days after you receive the item.) *You can add payment methods. *You can add authorized users.
*If you want to have them automatically take out the Minimum payments, and you Still want to make PAYMENTS separate from this to pay towards the buyout, you have to call and do it over the phone. OTHERWISE, whatever payments you make will go towards your next bill. I like this best because it gives you a chance to not have to worry about the auto draw on next payment. And you can keep knocking back the payments, and pay extra, it ALL GOES TOWARDS YOUR FINAL BUYOUT... *If you want to do a return I believe it is within 14 days, or 10 for a phone etc... go in with receipt or personal info, and you may have to pay a 25% restocking fee! But they will remove the item from your leasing account. That's all guys. I hope I helped.
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If I could have given this company zero stars, I would have. My husband and I opened an account with them two months before we got married in 2019 in order to finance our wedding rings. The very first experience I had with them was at the jewelry store when the individual that our salesperson was talking to just could not figure out how to enter the proper bank account information. Our sales person probably gave them our checking account number four different times before it was finally correct. I should have taken that as a sign, but I didn't.
Fast forward after about seven months of on-time payments, they knock on my door one night after I've already gone to bed. The gentleman that is representing Progressive Leasing said that they had not spoken to me and I have a late payment. I told him that I had communication with the 800 number and we had arrangements. He stood out in the hallway and managed to read my debit card number aloud on speakerphone to the company rep to verify our arrangement so that all my neighbors heard. When I called the company to complain about this, they told me they were sorry and that was about it.
Subsequently, I have fraud issues on my bank account and had to close it. I can only attribute this to the moronic display of unprofessionalism by banging on my door at almost 8 at night and reading my debit card number aloud for everyone to hear. Oh and you think that's it? No. There's more ridiculousness. I called to make an arrangement to pay off the entire rest of the account yesterday and they banged on my door again today. I absolutely lost it and yelled at the guy, explaining to him that an arrangement was made and I did not appreciate them showing up at my home unwarranted. He proceeded to look on his stupid little tablet only to say to me. "Oh, yes. I see that you made an arrangement. I'm sorry to bother you."
Are you freaking kidding me? This company is so willing to come after you at your home or place of business when you've already made arrangements. I don't know if the communication is sorry between the individuals they're sending out or what's going on, but it is absolutely 100% unacceptable. If I could annihilate this company in any other way, I would. I will be so glad to be rid of them...I cannot even begin to explain.
I change my payments so that I could call the payments in. This company keeps going in and taking payments even when they said they changed the account and payments would not be automatically taken out. They have caused me to have to change doctor appointments because they are taking the money that should be going to the doctor and they have caused my account to bounce.
I've had zero hassles with Progressive Leasing. They are upfront about their fees and billing process, and the representatives I've spoken with are professional, patient, and polite. They take the time to explain things and are willing to help. Based on my experience so far, I would recommend Progressive Leasing to anyone needing to buy certain items but lack upfront money and the necessary credit. (I needed a washer and dryer badly, and Progressive Leasing approved me so I could promptly get it.) From the start, the company has been clear about their costs and have stuck to our agreement when deducting from my bank account. So, no complaints!
I called January 20th to tell them I wouldn't be able to pay until I received my direct deposit. I would be paying them directly, not going thru automatic withdrawal. So on January 24th, they still took a payment out. It is currently January 26th, and my direct deposit will not be arriving until the 28th. I called Progressive on the 24th, and basically I was told that if the payment didn't go through, they would keep trying, resulting in more fees. I called in with enough time (3 days) to stop the payment, yet the rep did not stop it. I have intentions of paying in full and ending things with them. I have heard about them going in people's bank accounts without permission after everything has been paid. I will be taking action with my bank. I do not recommend.
I went through Progressive like most because of limited credit. I needed to take the diamond ring from the store that day due to time constraints etc. I was planning on paying for the entire purchase within 30 days, no matter what, so initially was not concerned. However; When I tried to pay the balance off after 3 weeks on their site the payment never went through. This after they promised me (on the phone) they would not charge for another week because I was paying it off. They charged and got another week because I authorized ACH deductions from my bank account. I had to call the company multiple times to get things straight. Bottom Line; I ended up paying over 2K for a $1,500 purchase and this in ONLY. (Less than 30 days!) Don't do business with Regressive. Please! Buyer BEWARE!!!
Progressive Leasing expert review by ConsumerAffairs
Progressive Leasing helps retail stores and merchants obtain financing for their customers with less-than-perfect credit by offering an alternative to traditional financing. It offers a lease-to-own purchase program for stores to offer their customers as an additional payment option, ensuring they are able to leave the store with the purchase they came in for.
Purchasing merchandise: Customers have two options for purchasing merchandise in your store: cash or credit. For customers who have less-than-perfect credit, obtaining financing may be hard or impossible. Progressive Leasing offers your customers a no-credit-needed program that comes with a 90-day payment plan.
Business benefits: Using Progressive Leasing’s no-credit-needed payment option lets retailers and merchants accept more customers, increasing their sales numbers, reducing the number of layaways and increasing the number of repeat customers. Even is a customer has good credit, have Progressive Leasing’s 90-day payment plan gives your store another option to offer customers.
Features: Progressive Leasing makes it easy for your customers to work with them by providing a simple, step-by-step process to ensure complete satisfaction. Customers will experience easy online applications, a seamless approval process and automated payments.
Store portal: Progressive Leasing offers retailers and merchants an online store portal where they can log in and monitor the status of their customer’s purchases. It also includes retailer procedures and contact information for Progressive support.
Request more information: If you are interested in learning more about Progressive Leasing’s program, you can fill out an online form with your store’s information. The form requests information like your stored website, how long it has been open and the type of merchandise you sell.
Best for: retailers who want to offer their customers another payment option.
Progressive Leasing Company Information
- Company Name:
- Progressive Leasing
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