Lowe’s Lease to Own: Up To $2,500 – How it Works? What Fees?


Are you a little strapped for cash but still need to make a major purchase to improve your home? Maybe you need a new refrigerator, a washer and dryer, or a tool to fix something around the home. The good news is that Lowe’s has a financing option for you. With the Lowe’s Lease to Own program, you can get what you need now and pay later. 

The Lowe’s Lease to Own program is offered by Progressive Leasing. They may approve you for up to $2,500 with no credit necessary. Items excluded from this include perishable or consumable goods, service fees, and permanently installed items. For help, contact Progressive Leasing at 1-877-898-1970.

For more information on how this program works and how to contact customer service, this guide will share all of the details! 

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How Does Lowe’s Lease to Own Program Work? 

Do you need some equipment for home remodeling or to get your small construction business off the ground? Many people who do not want to take out a credit card will want to know about the Lowe’s Lease to Own program. This program is known by a variety of names depending on your state: 

  • Rental-purchase agreement
  • Lease-purchase agreement
  • Rent-to-own agreement
  • Consumer rental-purchase agreement
  • Lease agreement with option to purchase

No matter what technical term they use to describe your agreement with them, this program can be extremely beneficial. With it, you could be approved for up to $2,500 worth of items from this home improvement retail giant. 

All agreements are provided by Progressive Leasing, LLC or an affiliate of this company. One of the more appealing features of the Lowe’s Lease to Own program is that no credit history is required to be approved. They approve people with low credit and very little credit. 

Lowe's Lease to Own

However, they will check information from consumer reporting agencies when you submit your application. 

While you will pay off your purchase over time, those who are approved will need to make an initial payment of $79. The remaining payments will be based on the price of the item you purchase and the overall frequency of your payments. You may pay in weekly, biweekly, or monthly terms. 

The program typically lasts for twelve months, and you will own the item at the end of this time. You can also exercise your right to pay off the item prior to the due date. 

Note that leasing will cost you more than purchasing the item outright. 

The program is not available in MN, NJ, VT, WI, or WY. 

What Can I Purchase with the Lowe’s Lease to Own Program? 

Once you know how the program works, you might be wondering what you can actually acquire through leasing. Not all purchases from Lowe’s will be eligible for this program. You should know in advance if your desired items can be bought on a lease-to-own basis. 

You may lease the following items: 

  • Home appliances
  • Seasonal or outdoor living
  • Power tools
  • Home décor
  • Lighting fixtures

All purchases that you make with this program must be above $150. 

Lowe's Lease to Own

You may not purchase any perishable or consumable goods under this program. This can include fuel, food, beverages, fertilizer, and other goods. Items that will be permanently installed such as flooring, drywall, and water heaters are also excluded from the rent-to-own agreement. Last but not least, you cannot finance any service-related items like deliveries or installation. 

They charge no interest on the items you purchase. However, there is a cost associated with using the lease service. This cost is based on the price of goods purchased. You are also responsible for all applicable taxes. 

For more information on how to finance an iPhone with bad credit, see our complete guide here!

Lowe’s Lease to Own Customer Service

For those interested in the financing program, you might be ready to get a jumpstart on your next purchase. You can check availability in your local area and apply for the program directly through the Progressive Leasing website

Questions about the application process should go to (844) 561-3714.

If you already have an agreement with Lowe’s for the purchase of an item, you might be wondering who you can contact if you have questions. Contrary to what many people believe, you actually do not contact Lowe’s with questions. 

All customer service inquiries should be directed to Progressive Leasing’s customer service department. The phone number for Progressive Leasing is 1-877-898-1970. 

Keep in mind that their customer service representatives are not available all day, every day. You will need to call during their business hours. They are open Monday through Friday from 10:00 AM to 7:00 PM EST. You can also contact them on Saturdays from 10:00 AM to 6:00 PM. They are closed on Sundays. 

You may also access information about your account all the time through their online portal

Lowe's Lease to Own

There is a customer service number to call if you are interested in purchasing your item early as well. If this description fits you, then you should call 1-877-898-1970. This customer service line can help you to pay off your item in a convenient manner. 

How Do I Make Payments? 

If you worry about how you will keep up with the payments, there is good news. Progressive Leasing makes it easy for you to set it and forget it. All of your payments automatically deduct from your bank account or charge to your card until you pay in full. 

Once you have paid off the item, it will belong to you. Until that time, Progressive Leasing technically owns the item and simply loans it to you. 

Lowe's Lease to Own

You do have the option to pay off your item early and save some cash. There is a discount on the leasing fee if you pay it off within the first ninety days of delivery of the items. However, it will still cost more than the cash value of the item.  

Remember that you must make all regular lease payments, even if you intend to pay the item off early later on. 

Setting Up Your Lease to Own Financing

The Lowe’s Lease to Own financing program makes it easy for you to get what you need with very little upfront cost. For just $79 plus tax, you can take your item home from an eligible location the same day. Remember that you will need to contact Progressive Leasing for any questions you may have about the application or servicing of your agreement! 

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