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Big Lots Progressive Leasing Review and How It Works

Big Lots Progressive Leasing financing option, also called Easy Leasing enables you to defer payments for up to 12 months on lease-to-own terms.

Being one of the top mattress, toys, home goods, and furniture stores that accept Progressive Leasing, Big Lots is an amazing destination to enjoy spread payments on several products.

While you may not be able to use its Easy Leasing for buy now pay later grocery shopping despite its good inventory of snacks and other pantry foods, this option could help you finance other household essentials without your credit score being a major consideration.

Progressive Leasing

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Tip: Choosing the Big Lots Progressive Leasing option involves entering a lease-to-own agreement which will provide full ownership of the product upon successfully completing 12 monthly payments.

Although you can benefit from zero interest by paying the total amount within 90 days, exceeding this timeframe may lead to doubled costs, requiring payment of more than twice the initial product price.

Before making a decision, carefully review the terms and only proceed if you are confident in completing the full payment within the initial 90-day period to prevent incurring the increased lease costs.


If there is one retailer where you can get several products in varying categories among the list of stores that accept Progressive Leasing for financing, Big Lots definitely will be one of those to consider.

As an added option to its credit card, you can use its Easy Leasing, a financing option powered through its integration with Progressive that lets you get furniture and other items on lease-to-own terms.


Read more about Big Lots Progressive Leasing

This option stands out from some other financing methods available at Big Lots due to its unique feature of interest-free financing for up to three months, commonly referred to as the 90-day early purchase option.

During these initial three months, you have the advantageous opportunity to finalize the full payment and gain complete ownership of the product.

However, it is crucial to note that the terms change if you are unable to make the full payment within the initial 90 days.

Detailed information regarding this transition is provided in the Big Lots Progressive Leasing contract.

It is essential to thoroughly review the contract to understand each aspect and ensure you are well-informed.

If you have not seen or had the chance to review the contract yet, please take a moment to examine the details below for a comprehensive understanding of its various components.

Terms to Know of Big Lots Progressive Leasing Contract

When you initiate the application process, the contract will show important aspects demanding your attention, which in turn will shape the payment structure throughout the duration of the plan.

Under the lease-to-own framework, it is vital to know that ownership of the property remains untransferred until the fulfillment of the full payment, as explicitly outlined in the contract.

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Outlined below are key components of the agreement that necessitate your thorough understanding before proceeding with the contract:


Cash Price (Original Product Cost)

In the Big Lots Progressive Leasing terms, the cash price is the total amount you would need to pay for the item if you were to make an outright cash purchase, without opting for a lease arrangement.

The cash price includes the full retail cost of the product along with any applicable taxes, fees, and interest that would be associated with a direct, one-time purchase.

For example, if the furniture you desire has an upfront cost of $980, this amount represents the cash price, including all additional taxes and fees that might be relevant to a straightforward cash transaction.


Lease Repayment Period

The Big Lots Progressive Leasing agreement outlines a repayment period that signifies the duration during which you commit to making regular payments, commonly known as lease payments.

These lease payments are integral to the contractual arrangement, contributing to the overall fulfillment of the agreement.

The specific period is determined based on your chosen payment frequency, allowing you to select from options such as weekly, bi-weekly, or monthly payments.

This chosen frequency establishes the required schedule within which you agree to meet your financial obligations throughout the leasing period.


Your State of Residence

In the Big Lots Progressive Leasing contract, the term “residence state” refers to your legal domicile or state where your current primary place of residence is.

Including the residence state in the lease agreement is significant as it determines the state laws that will govern the terms outlined in the lease.

This is very important when legal matters and jurisdiction arise, especially in the event of disputes or legal actions arising from the lease.

Clearly specifying the residence state helps establish the applicable legal framework for the lease agreement.

Furthermore, it is essential to determine the specifics of your grace period payment and whether it should precisely match the original cost price of the product or deviate from it.

Understanding these details ensures clarity regarding your financial obligations and terms within the lease agreement.


90-day Early Purchase Option (3 Months in CA)

Your lease agreement with Big Lots includes a valuable feature known as the “90-day Early Purchase Option,” allowing you to attain full ownership of the leased item before the scheduled lease term concludes, specifically within the initial 90 days of the contract.

Within this timeframe, you have the option to inform Progressive Leasing of your decision to exercise the early purchase option.

The lease agreement will explicitly outline the purchase price, indicating the amount necessary for complete ownership before the original lease term expires.

This 90-day window provides an excellent opportunity to settle the costs, enabling you to optimize savings when utilizing Big Lots Progressive Leasing for financing furniture and home goods purchases.

Residents of California benefit from a ‘same as cash’ advantage, extending the period to three months for CA residents.

This provision allows for deferred payments without incurring interest or additional charges during the specified period.

For California lessees who made an initial deposit during contract signing, the 90-day Early Purchase Option is calculated as the cost price of the item minus the initial deposit.

On the other hand, for users outside California, Progressive Leasing typically applies the formula ‘cost price of the item + the initial deposit.’

Illustrating with an example of a $960 living room set and an initial deposit of $59:

90-Day Early Purchase Option in CA: $901 (i.e., $960 – $59)
90-Day Early Purchase Option Outside CA: $1,019 (i.e., $960 + $59)

Every payment you have made until the day you decide to use the 90-day EPO will form part of the total amount.

For instance, if you have already made two installments, those payments will be deducted from the final amount required for full ownership.


Early Buyout (After 90-day) Option

This opportunity offers a second chance for you to mitigate rental fees by covering associated costs, particularly relevant after missing the 90-day Early Purchase Option (EPO).

Unlike the 90-day EPO, opting for this opportunity entails managing both the “lease-to-own cost” and the cash price at this juncture. The timing of your decision within the contract duration could result in paying over 65% more compared to the original cost of the product.

For instance, consider a twin mattress priced at $400; selecting the early purchase option after the initial three months could potentially increase the cost to $685 or more, as determined by the results from the Progressive Leasing calculator.


Cost of Lease-to-own

The term “lease-to-own cost” in the Big Lots Progressive Leasing contract denotes the total amount that, as the lessee, you will be responsible for paying as costs for renting the product throughout the lease term.

Should you choose to purchase the item in the 12th month, this cost will be added to the cash price at the conclusion of the lease, resulting in the total cost of ownership.

In simpler terms, the lease-to-own cost represents the accumulated rental fee for the entire duration of your lease agreement.


12-month Lease-to-own Total

This section offers an estimate of the total amount required to own the product if you choose to proceed until the final (12th) month. It represents the sum of the lease-to-own costs and the cash price.

For example, consider a patio dining set priced at $1,000 with a lease cost of $1,250. The total amount to own it at the end of the lease term would be $1,000 + $1,250.00, totaling $2,250.00.

To have an idea of the potential costs for a product of your preference, you can make use of the Progressive Leasing calculator.

How Big Lots Progressive Leasing Works

Simply put, once your Progressive Leasing application is approved, you gain the chance to acquire the desired product from Big Lots.

The agreement involves making installment payments through a lease. You have the option to either utilize the early purchase option or continue with payments for 12 months, leading to full ownership of the product.


Big Lots Progressive Leasing Flow

Here is a more detailed view of the flow when you choose to use Easy Leasing for financing a product purchase at Big Lots:


Lease Contract Application

In this phase, you will be asked to furnish Progressive Leasing with specific information using an online form.

If you are using the Easy Leasing option on the Big Lots website during checkout, the form is explanatory and you should understand going through the necessary steps.

On the other hand, if you are choosing this financing option in-store, an attendant will typically assist you in completing this section.

To expedite the process, ensure your smartphone is active, especially if you are completing it in-store.

The form will require details such as your name, employer details, valid photo ID, bank details, Social Security Number, address, and contact information.

Once all the necessary information is provided, click the submit button to send the details to Progressive Leasing.

After submission, you will receive a One-Time Password (OTP) for authentication. Enter this OTP on the validation page to proceed with the process.


The Auto Decision Phase

In this stage, the process is automated and relies on the information submitted in the initial phase.

Typically, it takes just a few minutes for a decision to be rendered on your application. Here is a breakdown of the automated process:

  • Soft Credit Inquiry: Progressive Leasing conducts a soft credit check, known as a soft pull or soft inquiry. This is performed for informational purposes and has no impact on your credit score.
  • Decision on Purchasing Power: The outcome of the soft inquiry is used to assess your purchasing limit, determining if you can feasibly meet the lease costs over the agreed-upon period.
  • Decision on Contract: Based on various determining factors, a decision is reached. You either receive approval to acquire the product, or your application is declined.

It is essential to note that the Big Lots Progressive Leasing option doesn’t rely solely on your credit score for approval.

Even with a less-than-ideal credit standing, you may still qualify based on other factors considered by Easy Leasing.

They leverage data based on the soft credit check conducted through agencies like Clarity Services to evaluate eligibility and not well-known bureaus like TransUnion, Equifax, or Experian.


Product Pick-up

Upon approval of your application, you will receive the product; however, ownership is not transferred until the initial payment is successfully processed.

In this stage, Progressive Leasing acquires the item from Big Lots on your behalf and chooses to lease it to you.

It is crucial to understand that, much like the arrangement of driving a rented car, Progressive Leasing, as the lessor, retains the authority to reclaim the product from you at any point during the contract period.

Similar to a vehicle owner’s ability to request the return of a rented car, Progressive Leasing has the capability to take back the product throughout the duration of the lease agreement.


Lease Payment Stage

Upon activation of the contract, you assume the responsibility for ongoing lease cost repayments.

It is crucial to clarify that these payments are directed exclusively to Progressive Leasing, not Big Lots.

This is because Progressive Leasing has already covered the entire product cost with Big Lots before you acquired the item.

Your responsibility is to make periodic payments based on your chosen frequency during the application stage. These payments typically occur weekly, bi-weekly, or monthly.


Interest-free Early Purchase Stage (90-day EPO)

This stage offers a unique advantage: if you opt to clear all payments, you will not exceed the original product cost, akin to the ‘same as cash’ benefit in California.

This alternative is available at any time within the initial 90 days; there is no need to wait until the third month.

Opting for this choice presents substantial savings as it will stop you from paying the rental fee.

If you have the necessary funds, this is an opportune moment to attain complete ownership of the product.

To initiate this process, you can log into the Progressive Leasing app or contact their support team for guidance on the required steps.


Interest-tied Early Buyout Stage

If the 90-day option is no longer available to you because you missed it, the next favorable opportunity to finalize your Big Lots Progressive Leasing contract comes immediately afterward.

While the savings may not match the initial option, there are still significant benefits to be gained by paying the full cost of ownership at this stage.

Depending on the timing of your decision, potential savings on rental costs can range from 13% to 35%.

This offers a valuable chance to retain more of your funds while ensuring complete ownership of the product.


End Of Contract (Ownership Stage)

The conclusive phase of the contract typically occurs in the 12th month.

Upon totaling all payments made since the lease initiation at this juncture, you will observe that the sum surpasses double the original price of the product, underscoring the importance of utilizing the early purchase option.

While the moderate monthly payments might not immediately reveal this, the comprehensive picture becomes clearer when considering all payments collectively.

If you have maintained a record of consistent and timely payments, you now have the option to retain the product, as the contract automatically concludes at this stage.

This marks the culmination of the lease agreement, rewarding your commitment with the opportunity to keep the item.

Alternatives to Big Lots Progressive Leasing Option


While Big Lots Progressive Leasing financing proves advantageous, particularly if you can pay the entire item cost within the initial 90 days, avoiding interest charges, it can become costly if you continue until the contract’s conclusion.

If you are uncertain about finalizing the contract within the initial three-month period, it is advisable to consider the following alternatives first:



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Tip: PayPal’s pay later option is accepted by Big Lots, which offers better financing terms compared to its Easy Leasing.


Big Lots is among the online retailers that accept PayPal as a payment method, providing an opportunity to take advantage of either the Pay-in-4 financing or PayPal Credit.

The Pay-in-4 option enables you to defer payments for up to six weeks, while PayPal Credit is designed for those with long-term financing needs.


Read more about PayPal

Compared to the Big Lots Progressive Leasing option, which offers a three-month grace period for interest-free financing, PayPal Credit extends this period to up to four months.

For individuals who may not qualify for long-term financing, the short-term pay-in-4 option is available to many, requiring only a soft credit check for eligibility.

When shopping in-store, Big Lots accepts major digital wallets such as Apple Pay, Samsung Pay, and Google Pay.

Therefore, your PayPal virtual card can be conveniently used to spread the costs of your purchases.

Big Lots Credit Card

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Tip: The Big Lots credit card allows purchases starting from $250 to enjoy interest-free financing on products within its vast inventory.


The platform provides two direct-to-use payment plan methods with this being the only alternative to the Big Lots Progressive Leasing option you can see at checkout.

While Easy Leasing is more of a buy now pay later with no credit check a major consideration, you will need a good credit score to get approved for its credit card.


Read more about Big Lots Credit Card

This spread payment option comes with interest-free financing with the how long based on the value of your cart.

To enjoy no-interest financing for up to 6 months, it is required that your cart is at least $250 in value.

There is an option that will enable you to spread the cost of your purchases for up to 12 months provided your cart is worth the minimum value of $750.

Its variable purchase APR is 29.99% and better when compared to the high cost of lease associated with the post-90-day Big Lots Progressive Leasing option.

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Tip: Big Lots accepts Google Pay and while it is not directly a payment plan option, you can connect a split payment card for financing.


Google Pay is one of the top options when it comes to using digital wallets for handling payments across several websites as well as when you visit physical stores.

With many financing providers offering buy now pay later virtual cards, you can easily use it to spread the cost of your item purchases at Big Lots.


Read more about Google Pay

In addition to being able to use it when shopping online, you can also use it when you visit a Big Lots outlet as it is also accepted alongside other options.

When using a split payment card with your digital wallet, ensure to preplan it if the chosen option requires you to preset it for financing to avoid errors in transactions.



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Tip: To use Sezzle instead of the Big Lots Progressive Leasing option, you can utilize its Anywhere card.


Sezzle is a prominent buy now pay later service that is particularly popular among individuals aiming to improve their credit scores.

The noteworthy aspect is its reporting of repayments to major credit bureaus, such as Experian, Equifax, and TransUnion.

It is worth mentioning that while Sezzle can be used for purchasing desired products at Big Lots, direct usage on the checkout page is not supported.


Read more about Sezzle

There are three ways to effectively utilize the Sezzle platform when handling the cost of your purchases at Big Lots.

Sezzle offers two buy now, pay later virtual cards, both compatible with Big Lots as the store is part of its selected retailers.

This allows for the use of the service for pay-in-4 transactions.

The Anywhere card, included in its subscription plan, adds an extra layer of flexibility.

With this card, you can make purchases at Big Lots, both online and in physical stores, using your Sezzle-allocated credits by connecting your card to one of the popular digital payment wallets.

Alternatively, you can choose to shop through the Sezzle app by finding Big Lots within its list of retailers.



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Tip: Zilch provides a Mastercard with up to $1,000 in purchasing credit you can use for financing products on Big Lots.


Zilch is a unique buy now pay later, relying on its Mastercard to provide payment plan services in order for its users to acquire the products they desire.

It provides a unique Mastercard that combines the features of a debit card as well as a financing card depending on the use cases.


Read more about Zilch

The default behavior of the virtual Mastercard provided by Zilch is a debit card and will directly deduct funds from your bank account through your linked repayment method when used for payments.

However, you can preset it for buy now pay later by logging into your Zilch app and providing the required details to get it ready for financing at Big Lots.



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Tip: Klarna is another method you can use for financing your purchases when shopping on the Big Lots website through the various channels it provides.

Even if Big Lots does not have a direct integration with Klarna on its website, it remains a viable option for shopping for furniture and home goods on a payment plan.

Klarna extends the option for long-term financing, which has a more favorable interest rate in contrast to the high lease costs associated with the Big Lots Progressive Leasing option.


Read more about Klarna

Klarna offers a flexible payment solution, providing both a single-use virtual card for immediate transactions and an upgraded version of the Klarna card tailored for in-store purchases.

Like other split payment providers, Klarna’s Pay-in-4 option, with a six-week financing term, incurs no interest.

Should your intended purchase extend beyond this period, Klarna offers a long-term financing alternative.

For a seamless shopping experience at Big Lots, opting for the physical version of Klarna’s payment card ensures flexibility and convenience, eliminating the need for pre-planning purchases.

Nonetheless, the one-time virtual card is equally effective and can be linked to any digital wallet for in-store buy now pay later shopping.

Furthermore, Klarna offers an in-app feature enabling you to shop directly at Big Lots when logged into your Klarna dashboard.

This simplifies the checkout process, requiring just a click on the ‘Pay with Klarna’ button in your app to finalize the purchase.

Additionally, there is an extension available for the Chrome browser which can be used for seamless product financing when shopping through the Big Lots website.

Big Lots Progressive Leasing Frequently Asked Questions


Below are some frequently asked questions about using the Easy Leasing option provided by Big Lots:


What can I buy at Big Lots with Progressive Leasing?

Big Lots offers a range of products that you can purchase using Progressive Leasing financing.

These typically include furniture, mattresses, home decor, electronics, appliances, and other household items.

Here are some examples of items you might be able to buy at Big Lots with Progressive Leasing:
1. Furniture: Sofas, sectionals, chairs, tables, dressers, and bedroom sets.
2. Mattresses: Various types and sizes of mattresses.
3. Home Decor: Rugs, curtains, wall art, and decorative items.
4. Electronics: Televisions, audio systems, and other electronic gadgets.
5. Appliances: Refrigerators, washing machines, dryers, and kitchen appliances.
6. Outdoor Furniture: Patio sets, outdoor seating, and accessories.
7. Seasonal Items: Seasonal decor, holiday decorations, and more.

Is it expensive to use Progressive Leasing for shopping at Big Lots?

Opting for Progressive Leasing to make purchases at Big Lots may result in higher costs compared to traditional financing or outright purchases.

Progressive Leasing functions as a lease-to-own program, offering flexibility for individuals who may not qualify for conventional financing.

However, there are important cost considerations:

1. Lease Costs: Progressive Leasing imposes lease payments that can accumulate, potentially exceeding the original purchase price by the end of the lease term.

2. Interest and Fees: Although traditional interest is not applied, the lease costs might surpass the cash price of the item. This serves as a means for the leasing company to generate profit.

3. Total Cost: The overall cost of ownership, encompassing all lease payments, may be considerably higher than the cost of an outright purchase. This aspect is crucial to weigh when assessing the affordability of Progressive Leasing.

Prior to committing to Progressive Leasing, it is essential to thoroughly review the terms of the lease agreement.

This includes understanding the total cost, payment schedule, and any associated fees.

It is advisable to compare these costs with alternative financing options or consider saving for an outright purchase, especially if such means are available without incurring additional charges.

Does the Big Lots Progressive Leasing affect credit score?

Normally, when you submit a lease application through Easy Leasing, Progressive conducts a soft credit check to evaluate your eligibility.

A soft credit check is an initial inquiry that does not have any impact on your credit score.

It offers the leasing company fundamental insights into your creditworthiness without leaving a lasting mark on your credit bureau profile.

How can I contact Progressive Leasing?

For assistance with your Lowe’s purchases through Progressive Leasing, visit the support page and choose your preferred method of contacting the Progressive Leasing team.


Choosing Big Lots Progressive Leasing financing is a wise decision, especially if you can take advantage of the 90-day early purchase option.

However, if you have reservations about completing the full payment within this timeframe, it would be prudent to first explore alternative payment plan methods to avoid the high cost of the lease.

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