Lease-to-Own Providers: Fees and Terms Compared (Snap, Acima, Koalafi, Progressive, Katapult)

Lease-to-own fees vary by provider, but the terms that decide your total cost are the same across all of them: the lease term length, the early-purchase window, and the total of payments over the cash price. Every one of these is disclosed before you sign, and you stay in control of what you ultimately pay. What you pay to own depends on the provider and how long you keep the item. Katapult states in its SEC filings that renewing to the maximum term costs "approximately two times the cash price," while its 90-day early-purchase price is the "cash price of the item plus 5%." Snap and Koalafi do not publish a total-cost figure; it is set in your individual agreement. Exercise the early-purchase option inside the provider's window, usually the first 90 to 101 days, and you pay far less, often close to cash price plus a small fee. Or return the item anytime and stop paying, owing nothing further. That flexibility is the point, and the early-purchase decision moves your cost more than any difference between providers.

Before you compare virtual providers on fees, know that for most people a local rent-to-own store is the better route. The fee structure below is similar, but a local store adds what a virtual checkout provider cannot: it delivers and sets up the item, services and repairs it while you are paying it off, and takes it back in person if you return it. That in-person return matters, because with the virtual providers physically returning an item almost never happens in practice (a New York City investigation found 2 returns out of 39,000 leases; the CFPB counted 165 out of 1.7 million Snap leases). Find a local rent-to-own store near you on VRTO first, then use the fee comparison below when you are shopping a national retailer's checkout or no local store carries what you need.

This page compares the five major virtual lease-to-own providers on the terms a shopper actually needs: term length, the early-buyout window, the total-cost multiple, initial payment, and credit reporting. Every provider below runs a lease-purchase (rent-to-own) agreement, not a loan. You are renting the item with an option to own, and you can return it to end the agreement.

Last updated: 2026-07-01. Compiled by VRTO (Virtual Rent To Own), the rent-to-own directory.

The comparison table

Figures below are the publicly documented structure of each provider's lease-purchase agreement. Where a provider publishes its cost, the table cites it; where it does not, the table says so rather than substituting an industry figure. Your exact cost depends on the retailer, the item, and your payment schedule.

Read the cost column by provider, because they differ. Katapult is the one that publishes hard numbers: its SEC filings state that renewing to the maximum term costs "approximately two times the cash price" and its 90-day early-purchase price is the "cash price of the item plus 5%." Progressive's 2020 FTC action found consumers who paid to term frequently paid approximately twice the sticker price, and its early buyout costs far less. Acima costs near cash price if you buy out early and more if you go to term, but does not cleanly disclose a single multiple. Snap and Koalafi do not publish a total-cost figure at all; the number lives in your individual agreement. There is no single industry multiple that applies to all five.

The three terms that decide your cost

1. Lease term length

Most lease-to-own agreements run about 12 months of scheduled payments. That is the full lease. Some providers structure payments weekly or biweekly to match a paycheck, which changes how the payment feels but not the total if you pay to term. A shorter effective term only saves you money if you use the early-purchase option below.

2. The early-purchase window (the money decision)

Every major provider offers an early-purchase option, and it is the single largest lever on your total cost. Pay off the item inside the provider's window and you skip most of the lease markup. Acima, Progressive, and Katapult document a 90-day early-purchase option; Snap's early-buyout runs to roughly 100 days. Miss that window and the standard lease multiple applies for the rest of the term.

The size of the gap is documented where providers publish it. Katapult's 90-day price is the cash price plus 5%, versus about two times the cash price if you renew to term. The early-purchase price sits far closer to cash price than the to-term total for every provider that discloses both. Both numbers are disclosed to you up front, so you can pick your path. If you can pay early, that is where the savings are.

3. Total of payments to term

The total of payments is what you pay to own the item if you complete the lease. It differs by provider. Katapult discloses it in its SEC filings as about two times the cash price at the maximum term. Snap and Koalafi do not publish it; the figure is set in your individual agreement. Rental-purchase statutes require this total to be disclosed to you before you sign, alongside the cash price and the early-purchase price, so you see the full number and decide what to do with it. That is why the early-purchase option is worth understanding: it is the lever you control.

Fees and initial payments

Lease-to-own providers do not charge interest, because a lease is not a loan. Instead, the markup is built into the payment schedule, and the total of payments above is the real "cost of the money." Beyond that, expect an initial payment at signing: your first lease payment, sometimes with a small processing fee. The exact initial amount varies by provider, retailer, and item, so confirm it at checkout rather than assuming a flat number.

What to check before you sign:

• The item's cash price and the total of payments to own it.
• The initial payment due today.
• The early-purchase window in days and the early-purchase price.
• Whether payments are weekly, biweekly, or monthly.
• The return policy if you decide not to keep the item.

Credit reporting posture

None of these providers runs a hard credit inquiry to approve a lease application. Approval leans on income and banking data rather than a FICO pull, so applying does not put a mark on your credit and there is no debt to report. Reporting of your payment history varies: some providers may report to credit bureaus, so on-time payments can help and missed ones can hurt. If building credit is a goal, ask the provider directly whether they report, because a lease that does not report will not build credit no matter how you pay it.

How to pick

Start local. If a local rent-to-own store carries the item, it is usually the better route than any virtual provider: same lease-to-own structure, plus delivery, setup, service, and an in-person return. You can find one near you on VRTO. Among the virtual providers, the provider matters less than the terms. Costs to term differ by provider and some are not published at all, but every one rewards an early payoff. Pick based on which provider your retailer offers, then use the early-purchase window. That decision saves you more than shopping providers ever will.

FAQ

Do lease-to-own providers charge interest? No. A lease-to-own agreement is a lease, not a loan, so there is no stated interest rate. The cost is built into the total of payments. Katapult's SEC filings put that total at about two times the cash price at full term; Snap and Koalafi do not publish theirs. That is why the effective cost is best read as the total of payments, not an APR.

What is the early-purchase option and how much does it save? It lets you buy the item outright inside a set window, commonly 90 days and up to about 100 days with some providers, for far less than the full lease. Katapult, for example, prices its 90-day buyout at the cash price plus 5% versus about two times the cash price at full term. Exercising the early-purchase option is usually the largest saving available on a lease-to-own agreement.

Which lease-to-own provider is cheapest? No single provider is reliably cheapest, and two of the five (Snap and Koalafi) do not publish a total cost to compare. Your total cost is driven far more by whether you use the early-purchase window than by which provider you choose.

Do lease-to-own agreements require a credit check? Not a hard credit inquiry. Snap, Acima, Koalafi, Progressive, and Katapult approve applications using income and banking information rather than a FICO pull, so applying leaves your credit untouched and there is no debt on your file. Some may still report your payment history to the bureaus once you have a lease.

Can I return the item instead of paying it off? Yes. A lease-to-own agreement includes the right to return the item to end the agreement, which is a core difference from a loan. Returning stops future payments, though it does not refund what you have already paid.

How long is a typical lease-to-own term? About 12 months of scheduled payments for the full lease across the major providers. Payments may be structured weekly or biweekly to match a pay cycle. The term only shortens, and the cost only drops meaningfully, if you use the early-purchase option.

Sources

• Katapult Holdings Form 10-K (SEC EDGAR, FY2024): renewing to the maximum term costs "approximately two times the cash price"; the 90-day early-purchase price is the "cash price of the item plus 5%."
• FTC (2020): Progressive Leasing action. Consumers who paid to term "frequently paid approximately twice the sticker price."
• The providers' public lease-purchase terms: Snap Finance, Acima, Koalafi, Progressive Leasing, Katapult (term length, early-purchase window, application posture). Snap and Koalafi do not publish a total-cost figure; Koalafi publishes an early-buyout fee of $0 to $79 by state.

Where a provider publishes its cost, this page cites that figure. Where a provider does not publish a total (Snap, Koalafi), the page says so rather than substituting an industry estimate. Your exact cost is disclosed in your own agreement before you sign.