What is the interest rate? How is the monthly payment figured?
There is not an interest rate. Lease payments are 15% of the invoice amount per month.
Example: $1,000 invoice = $150/mo payment
How does the customer make payments?
Payments are automatically withdrawn from the customer’s bank account on their paydays.
What if the customer does not have a checking account?
They will not qualify. They must have an active checking account that has been open for at least three months.
How long is the lease agreement for?
All lease/purchase agreements should be paid off in 3 months (90 days) to be considered Same as Cash ($0 additional fees)
Lease/purchase agreements are for 12 months unless the customer wishes to pay off early.
What are the buyout options for the customer?
We offer early buyout options to customers who wish to own the merchandise outright before the 12 month term is completed. They have two options: