Recurring Payments: How Do They Work

Automatic Recurring Payments

After a customer activates lease-to-own with an initial payment, the customer will be set up with automatically recurring payments.

When do payments start for the customer?

Progressive Leasing will start the customer's easy, automatic recurring payments at least 10 days from the time the customer takes the item home or the scheduled delivery date for the item.

The recurring auto-payment schedule will begin on the next scheduled payday after they receive their items. If that first payday isn’t at least 10 days after delivery, we’ll wait until the next payday.

In other words, recurring payments will automatically be withdrawn using the pay date information and the bank account or card information the customer entered during the application process and agreed to in the Payment Summary. If the customer wants to update their payment schedule or payment information, they can do so at any time by calling Progressive Leasing.

There are terms that you and your customer should be familiar with when talking about payments. Get to know these terms:

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