Rent-To-Own for PlayStation 5s

Rent-to-own PlayStation 5s are becoming increasingly popular, giving consumers more choices than ever before. This option may help make obtaining your dream interactive gaming console more realistic, even with less-than-stellar credit history. Learn about these important aspects of getting a PlayStation 5 console using a rent-to-own option below:

  • What is Rent-To-Own PS5s?
  • How Does Rent-To-Own Work for a PS5?
  • Who Offers Rent-To-Own for PlayStation 5s?
  • FAQs About Rent-To-Own PlayStation 5s

What is Rent-To-Own PS5s?

Rent-to-own PlayStation 5s is the leasing of brand-name video game consoles by making weekly, bi-weekly, semi-monthly, or monthly payments. This increasingly popular rental-agreement option has given more opportunities for consumers to afford a new gaming system without making substantial upfront payments or taking out credit.

Rent-to-own is available not only for PlayStation 5s but for other video game consoles, including Nintendo Switch, Microsoft Xbox series X, and even different accessories like a headset, a wireless controller, and PlayStation games.

The rent-to-own industry became popular in the late 1960s after banks started turning away people with bad credit. While these banks did offer credit to help customers pay off household items, they had stringent requirements and high-interest rates.

friends playing playstation on couch

Moving forward, the idea that leasing goods (like a Macbook) through a rent-to-own contract agreement would open the door for more consumers to have access to goods became an innovative solution for many people with bad credit. As a result, today, there are over 9,200 rent-to-own stores across the U.S., serving close to five million customers annually.

These stores deal primarily with moderate-income earners with no savings, bad credit, and a limited option to obtain quality home products to improve their quality of life.

How Does Rent-To-Own Work for a PS5?

When you opt for a rent-to-own Playstation 5 plan, you enter into a rental contract and agree to specific terms. The flexible payment options rent-to-own offers are ideal for consumers with bad credit histories. It increases consumer access to otherwise expensive electronics like the next-gen console PS5 and its games.

Contrary to other options like in-store credit, the rent-to-own model is not a loan, and it does not accrue any interest. † Only customers with stellar credit scores are eligible for in-store credit, and the merchant will typically first run a credit check to determine whether you qualify.

Suppose you wish to upgrade your old gaming system for a new, next-gen console with an ultra-high-speed SSD but have no credit, or you are coming out of bankruptcy. Applying for the rent-to-own plan may be another option.

Accessing a PS5 through a rent-to-own agreement is made possible through participating merchants who partner with American First Finance (AFF). You can apply on our website.

If you would like to rent the PS5 while also reducing the cost of the rental agreement, American First Finance offers three options. Here’s an example of what these options might look like:

  • Early Buyout Option (EBO) – save on rental fees by paying off your rent-to-own agreement in full early, often within 90 or 101 days, and own the appliance earlier.^
  • Early Purchase Option (EPO) – pay off your rent-to-own agreement after the EBO but before the end of your agreement term.
  • Full payment option – pay for the appliance for the entire term of your rent-to-own agreement.
gaming keyboard, headphones, and controllers on desk

Perks of Rent-To-Own for PlayStation 5s

  • Access to better products – if approved, you may be able to obtain a name-brand new console like Sony PlayStation 5 with pre-installed games for a small monthly payment. The payment is spread over several months, making it more affordable.
  • Access to products even with bad credit – The beauty of a rent-to-own agreement is that even if you have a less-than-perfect credit score, you may still be eligible to access a PS5 through a rent-to-own process.
friends excitedly playing playstation together

Popularity of Rent-To-Own for PlayStation 5s

Rent-to-own stores have attractive options for consumers, making them an ideal option for households with no credit cards. Currently, the rent-to-own sector has almost 10,000 participating locations across several states, serving nearly 5 million customers annually. And hard economic times, unemployment, and surging debts have also led to an increased demand for rent-to-own services.

What Kind of PlayStations Can You Rent-To-Own?

You may be able to rent-to-own any PS5 game console you need to enhance your gaming experience. And you may choose from a whole new generation of the latest consoles available on the market, such as those including the Sony PlayStation series.

Rent-to-own PlayStation 5s also provides a wide range of gaming accessories to give you an edge over other gamers without making a substantial initial payment.

Available Rent-to-Own PlayStation 5 Models

Before renting a PS5, it’s essential to know the different types of Sony game consoles. Choose the best according to your personal preferences. Here, we have analyzed the two items most rented by lease-to-own customers according to brand name, average price, and some of the notable stores to choose from.


Standard PS5

Compared to its predecessor, the PlayStation 4, the Standard PS5 provides a far richer gaming experience with a massive leap in ultra HD graphics technology. You may be able to access a variety of new games unavailable in previous PlayStation editions, giving you total value for your money.

It has 16 GB GDDR6 memory, with external hard drive support for additional storage and one HDMI port. With a performance target of 4K @ 60 FPS, up to 120 FPS, and 8K, VR-ready and powerful enough to handle 4K resolutions and HDR imaging technology, this is a perfect option for new-generation gamers. It also packs a 4K UHD Blu-Ray drive for movie lovers to widen their home entertainment scope.


PlayStation 5 Digital Edition

The PS5 Digital Edition is the digital version of Sony’s PS5 game console. It enhances your gaming experience by putting you right in action. Thanks to a range of key selling points, such as a high sensor resolution, adaptive triggers, instantaneous load speeds, a 120 FPS refresh rate, and 3D audio technology, this accessory is a must-have for all gamers. It has a sleeker and symmetrical design that modernizes the console, boosting your gaming experience.

In addition to all the great accessories mentioned above, rent-to-own stores also stock a range of other gaming merchandise, such as games, dual sense controllers with haptic feedback, and TVs for an optimal experience when playing your favorite games. Stores that offer lease-to-own PlayStation 5s often run promotions giving gamers a chance to avail of exceptional discounts on these gaming products.

bean bag chairs in game room with flat screen tv

Apply for a Rent-To-Own PlayStation 5 Near You

Many traditional lenders consider it challenging to lend to people with bad credit, and they may not choose to offer them loans at competitive rates. Bad credit refers to a low credit score resulting from poor past borrowing and repayment history. If you have a bad credit rating, you may find it challenging to be considered for financing certain types of loans.
Most people with bad credit find it difficult to obtain the latest quality gaming consoles and, as a result, are left stuck with second-hand or substandard gaming systems. That’s where AFF steps in. We are a leading financial company that helps customers with bad credit obtain the latest gaming consoles without taking out a loan or making huge upfront payments.†

Rent-To-Own PlayStation 5 Options in Summary

Rent-to-own is a flexible payment option for people with less-than-stellar credit to obtain the latest Sony gaming consoles without making a huge cash payment. Those who want to access a new PS5 may find it difficult to pay for the device upfront, as these gaming systems can be costly.

If approved, Rent-to-own PlayStation 5 options allow you to enjoy the gaming experience while not having to worry about paying the total up-front cost. And through American First Finance, you may also be able to pay off the rental agreement early while reducing the cost of the rental through our early buyout or early purchase plans.

modern living room with flat screen tv

Apply for a Rent-To-Own PlayStation 5 Online

American First Finance (AFF) partners with several well-known merchants across the U.S., giving you endless options when applying for a rent-to-own PlayStation 5. We partner with the biggest retail stores, including Amazon, Best Buy, Target, and more.

For ease and convenience, you can apply for PS5 leasing on our website. Simply use our Merchant Search tool* to find a store near you and complete the application online. The application process takes a few minutes, and you can sign a contract immediately if you’re approved.

Rent-To-Own PlayStation 5 FAQs

Having understood what a rent-to-own PS5 plan is and how it works, it’s essential to look at some commonly asked questions about rent-to-own products. Here are some frequently asked questions about rent-to-own PlayStation 5:


Q: What Does Rent-To-Own Mean?

A: Rent-to-own is a flexible payment option that may allow people with bad credit to get high-quality products without making the full payment up-front. This may enable people with low credit scores to get access to the goods they’d like to have.


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

A: American First Finance will check your credit, but your credit score is not the only determining factor. We consider more than just your credit score during our approval process, so there’s not a single credit rating that will ensure approval.


Q: How Can I Apply for a Rent-To-Own Playstation 5?

A: You can apply for rent-to-own Playstation 5 options right here on our website. Not everyone will be approved, but having bad credit doesn’t automatically mean you’ll be denied. Your credit may be checked, but a low credit score doesn’t necessarily disqualify you.


Q: Where Can I Shop for a Rent-To-Own Playstation 5?

A: Where you can use your payment solution to lease to own an iPhone will depend on the company you choose to sign a contract with. If you’d like to apply on our site for a store within our network, you can start by finding a store near you*. Submit an application for a decision in as little as minutes.**

**Decisions and funding may take additional time and not be same-day, including if more information is needed to complete the application.