Rent-to-Own Leases

The increasingly popular option of getting a rent-to-own lease has given more opportunities to consumers than ever before. This option can help make furnishing your home with the products you love more realistic, even with less-than-stellar credit history. Learn about these essential aspects of getting a rent-to-own lease below:

  • What is a Rent-to-Own Lease?
  • How Does Rent-to-Own Work?
  • What Kinds of Products Can You Rent to Own?
  • Who Offers Rent-to-Own Options?
  • FAQs About Rent-to-Own Agreements

What Is a Rent-To-Own Lease?

A rent-to-own lease refers to an alternative method of acquiring quality household items like furniture (including mattresses), appliances, electronics, or other consumer goods. Also known as a lease-to-own payment plan, this option can allow consumers with bad credit an option to access products without making substantial upfront payments.

Lease-to-own options are an alternative option for people with imperfect credit, often sought because pursuing traditional financing options is likely to result in a denial. A lease-to-own arrangement can provide consumers with an alternative option to make affordable monthly payments towards their product instead of paying a full purchase price up-front.

According to the Association of Progressive Rental Organizations (APRO), a rent-to-own contract has several advantages, including gaining access to household products without taking out loans or making full upfront payments. In some cases, the qualification requirements are also less stringent than traditional financing, so having a bad credit score won’t automatically disqualify you.

Woman Looks At Dining Set

How Does Rent-To-Own Work?

Rent-to-own plans are typically characterized by short-term (sometimes monthly or bi-monthly) payment options. Unlike other purchasing options, a lease-to-own option is not a loan, so they don’t accrue any interest. However, please note that although the rent-to-own does not include interest, there are generally comparable leasing fees included.

It works like a regular rental agreement, where you are required to make regular payments toward your product. Instead of paying for the product all at once, you “rent” the product until the contract is fully paid off.


Perks of Rent-To-Own

Access to better products – lease-to-own agreements allows customers access to products such as kitchen appliances, consumer electronics like TVs, and furniture for a monthly payment. The total repayment price is then spread over several months to make the payment schedule more affordable.

What Can You Lease With Rent-To-Own?

Rent-to-own agreements can allow you access to shop for the household products you want to furnish your home or help with other goals. These kinds of agreements are also now generally available for many major appliances (e.g., washers/dryers or refrigerators), home goods, and other types of products on the market. Any payment solution provider will likely have unique terms about where their rent-to-own approval can be used, so it’s always good to check if you’re interested in pursuing an application.

couple shopping for fridge in store

woman dancing shop now pay as you go

Ready to Apply?

American First Finance makes it easy to apply for lease-to-own products and provides a large network of popular partner stores across the country to choose from. To find what American First Finance can offer you if approved, you can apply online in minutes by choosing a store and filling out our short application.

Here’s how to apply:


How to Apply for Rent-To-Own With American First Finance

American First Finance is a leading financial company that offers rent-to-own payment solutions to approved consumers with bad credit. You can apply easily online through our short application process and get a decision in as soon as minutes.

Find a Store

Search for stores by ZIP code and choose your preferred store near you.


On the store page, click “Apply”, then fill out our fast & easy application.


If approved, use your lease to get the goods you need.

Access to Thousands of Stores (& 10,000+ Products)

Rent-to-own agreements give you access to thousands of stores across the United States. American First Finance partners with many major retailers to help our customers get the products they need through affordable monthly payments.

Rent-To-Own Agreement Made for Products

Traditional financing options, such as a personal loan or in-store credit, require borrowers to have good credit scores. For consumers with less-than-perfect credit scores, rent-to-own allows customers to obtain the products they desire who otherwise would be disqualified for traditional financing.

Rent-to-own agreements can only be made for physical, nonperishable products and goods. Unlike layaway payment options, rent-to-own allows you to take the product home before it’s fully paid for.

Popular Rent-To-Own Lease Items

Rent-to-own merchandise comprises most household items to help you create a custom living space. Here are some of the most popular products available through lease-to-own agreements:

Type of Product: Furniture

Average Price**: $1,500 to $3,000

Find a Store*


Type of Product: Refrigerators

Average Price**: $1,000 to $2,500

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Type of Product: Washers & Dryers

Average Price**: $900 to $2,000

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Type of Product: TVs

Average Price**: $650 to $2,000

Find a Store*


Type of Product: Mattresses

Average Price**: $500 to $2,500

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Choose from our Network of Stores


Furniture is the heart of any living space. It completes any room and can transform a home’s décor and ambiance. With rent-to-own furniture, you can update or change your living space with great-looking furniture without having to pay for it in full upfront. You can often choose from sofas, chairs, dining room sets, living room sets, coffee tables, and more to create your cozy, custom living space.

blonde dog sitting on grey couch in living room


Refrigerators are critical kitchen appliances that help store and preserve your food while keeping it fresh, especially during warm weather. There are three main types of refrigerators you can choose from:

  • Top-freezer – they are low-cost, traditional models with a freezer above the fridge.
  • Bottom-freezer – these models offer a large interior storage capacity. They often feature additional compartments for different storage options.
  • Side-by-side – these are slim models with a sleek, modern design and vertical freezer placed opposite the refrigerator.
couple looking at smart fridge with touchscreen

Washers & Dryers

Washing machines and dryers are essential in keeping your clothes clean and fresh. They also play a crucial part in keeping your clothes looking new for many cycles to come.

Washers generally fall into three categories:

  • Front-loading – generally smaller than top-loading washers, ideal for smaller spaces.
  • Top loading – usually larger than front-loading units, perfect for bulkier laundry tasks.
  • Washer and dryer combo – they combine a washer and dryer in one unit. They are cheaper than separate units and occupy less space.
woman and son loading washer with clothes

Dryers also come in different styles:

  • Gas – they use natural gas or propane to heat your clothes instead of using electricity.
  • Electric – these machines use electric heating elements to dry your clothes more quickly.
  • Steam – steam dryers emit steam and heat to prevent wrinkles and reduce odors.

Product Options With Rent-To-Own Agreements

There are thousands of various products on the market that are available with a rent-to-own flexible payment solution agreement. This includes air conditioners, musical instruments, computers, televisions, bedroom furniture, and so much more.

By using a rent-to-own agreement, you can choose the appliance or piece of furniture you need and may have access earlier than you would when paying up-front, in full is not an option. One thing that’s important to understand about rent-to-own agreements is that they’re generally not valid for services, such as getting a tattoo or having your house power-washed. For most payment solution providers, you can only rent to own physical products that hold value, like a piece of furniture or a gaming computer.

Here’s a look at some of the popular products you can choose from with a rent-to-own approval from American First Finance:

  • Furniture
  • Jewelry
  • Laptops
  • Instruments
  • Electronics
  • Dishwashers
  • Mattresses
  • Appliances
  • Computers
man looking at tvs in electronics store

Choosing the Right Products With Your Approval

Choosing the best product for your home ultimately comes down to what your wants and needs are. If you want the latest technology, upgraded styling, functionality, or features, you’ll likely select a more expensive product.

Spending a little more on a product sometimes gets you better quality, a more extended warranty, or a larger size. Finding the right balance between functionality and cost can be difficult, so don’t rush to a decision. And remember – only you know what fits within your budget.

Try to choose the product that fits both the functionality you desire as well as your budget. Make sure that the monthly payment fits within what you’re able to afford each month. Otherwise, you could have the item repossessed from you, and you’ll have to do without it.


woman dancing shop now pay as you go


Rent-To-Own Trends in the US

The lease-to-own industry gained popularity in the late 1960s after banks started turning down people with bad credit scores trying to obtain household items financing. One store owner came up with the rent-to-own idea, and it has grown into a multi-billion dollar industry.

Unlike traditional lending, which caters to higher credit scores required for conventional loans, lease-to-own agreements have varying requirements, which has continued to increase the demand for rent-to-own services year after year.

Hard economic times, rising unemployment, and an expanding no-credit economy have created a surge in the number of individuals seeking lease-to-own agreements. Many large purchases can be difficult to afford when a full cash payment is required to get the products in question. With nearly 30% of American households lacking a credit card, lease-to-own options have become increasingly sought-after.

Woman Paying With Credit Card

Most Popular Types of Leases

With the growing market and need for rent-to-own products, more types of products have become available with rent-to-own terms. Below you’ll find some common types of products that are leased through a rent-to-own agreement.

  1. Furniture
  2. Electronics
  3. Appliances
  4. Computers


Additional Uses of Rent-To-Own Options

Rent-to-own agreements can be used on most larger items found in a home. Below you’ll find a list of other popular items that you can obtain with rent to own:

  • Air Conditioners
  • Washing Machines
  • Dryers
  • Dish Washers
  • Mattresses
  • Nightstands
  • Coffee Tables
  • Couches
  • Cribs
  • Desks
  • Gaming Computers
  • Cell Phones
  • TVs
  • Tablets
  • Printers
  • Projectors
  • Necklaces
  • Engagement Rings

women looking at phone

Rent-To-Own Options in Summary

Rent-to-own is a flexible payment option that helps make available to millions of consumers with bad credit, low savings, and poor collateral high-quality products without the requirement of making a full, purchase-price payment up-front.

Some lease-to-own options even include weekly or monthly rental contracts that you can change or terminate at any time based on your agreement.

Using a rent-to-own agreement, you can likely find options to lease a variety of household products, including furniture, electronics, kitchen appliances, and more. American First Finance works with several top leading retailers, to offer rent-to-own options for appliances and furniture. Simply find a store near you to apply online in minutes.

family with child looking at laptop

Rent-To-Own FAQs

Here are some of the frequently asked questions about the rent-to-own option:


Q: What Does Rent-To-Own/Lease-To-Own Mean?

A: Rent-to-own, also known as a lease-to-own agreement, allows you to access products without making the full payment up-front. It’s a viable option for people with bad credit as it can help them access quality products they need despite their bad credit history.


Q: What Credit Score Qualifies for Rent-To-Own?

A: Unlike other traditional payment solutions, a rent-to-own plan can be an accessible payment option even with bad credit. With American First Finance, you can get approval even without a credit score; however, your credit history will be checked. Bad credit doesn’t necessarily disqualify you from receiving approval.


Q: How Can I Apply for Rent-To-Own Options?

A: You can apply for rent-to-own products right here on our website. Even though not everyone will be approved, having bad credit does not automatically mean you will be denied. Your credit will be checked, but having no credit score or a low credit score does not necessarily disqualify you

To begin, choose a store that is convenient for you* and apply directly online within minutes.


Q: Is Rent-To-Own a Good Idea?

A: Rent-to-own can be an option for consumers looking to obtain the products they desire without having to make a full, up-front payment. However, ultimately you are the best judge of what financial decisions are for your life. It’s important to consider the overall expense that a rent-to-own or other payment solution will incur, so you have a clear understanding of the cost and whether you can comfortably manage repayment.


Q: Where Can I Shop for Rent-To-Own Products?

A: American First Finance has thousands of partner stores across the U.S. for our customers to choose from. To get started, use our Merchant Search tool to find the store near you and apply for a flexible payment solution online and get an answer in as soon as minutes.