22 May

Discover Another Way to Pay

It’s no secret that we express our passions, emotions, and creativity through our unique sense of style and dress. Your home design should also be a reflection of the real you. Expressing your personality should be comfortable and affordable, especially when it comes to the designs and brands you love.

One way to express your style without the worry of over-stressing your bank account is to consider leasing furniture, appliances, and electronics.  Leasing has helped many overcome the costs associated with outfitting a new home or renovating a kitchen with options that fit their lifestyles and paychecks. A lot of people don’t realize that you can qualify for a lease without having credit or without impacting your already established credit.

If you are not familiar with leasing, again no worries- the process is simple!  Leasing provides you with access to a flexible payment option that comes with a simple application and, in most cases, you will receive your approval amount within seconds. Here’s how it works:

1. Find out if the retailer offers a leasing program.
2. Complete your application in-store or online.
3. Get your approval amount and start shopping.
4. Make your first payment at the register or checkout.
5. Take the items home today or have them delivered.

While that seems easy, let’s review a few dos and don’ts to ensure you get the most out of your leasing program.

Do- Review your Lease Agreement

• Before you complete your lease, make sure you take the time to read and understand the terms and conditions (or Ts&Cs) of your agreement. Always understand what you are signing and ask questions if you have any doubts.  Be fully aware of your lease payments, the terms of your lease, or any available buyout options.

Do- Pay Attention to the Buyout Process

• Some leasing programs have buyout options after meeting a minimum term.  With that in mind, make sure you are well versed in any options to purchase the leased items.  Some leasing programs carry a maximum term.  Find out if your lease has an expiration date and buyout options at the close of the lease.

Do- Take Advantage of Early Purchase Options

• Leases sometimes offer early purchase options. If you are able, you may want to consider buying out of your lease at 30, 60, or 90 days to avoid additional payments. Ask a store associate or leasing representative for details and decide if early purchase options fit your budget.

Do- Set Reminders on Payment Dates

• Leasing programs offer a variety of payment dates and frequencies.  Review the payment options available to you, and select an option that best aligns to your finances.  Setting reminders will keep you aware of the automatic deductions from your account on a weekly, bi-weekly or monthly basis.

Don’t – Assume that all Leases are Created Equal

• Many consumers assume they automatically own the items at the end of the leasing program, but that’s not always true. Make sure that you are aware of the difference between terms such as “leasing” and “lease to own.” To confirm, check your payment schedule, review your buyout options, or call Customer Service before you sign your lease. Don’t get caught off-guard in the event there are additional buyout fees that will need to be paid before you truly own the item.

Don’t- Let your Lease Go Unmanaged

• Make sure the leasing provider offers an online portal where you can self-manage your account, and track payments, approval amounts, and buyouts.  If you have any changes in your financial situation — like canceling a credit card, starting a new job, or opening a new bank account — make sure you update your lease account as well so you don’t miss a payment.

Leasing programs can work for you and provide a cost-effective way to create a home that is expressive of your true self. The TEMPOE no credit required leasing program offers a simple application, instant decisions, affordable payments, and early purchase options in most states. The program has a 5-month minimum term, then you decide what happens next: purchase the leased items, continue leasing, or return the leased items to TEMPOE. Click here to apply today and find a retailer near you.