Sears to Offer “Lease” Option for Merchandise

Expanding on its payment solution which already includes credit cards with 3 different banks (HSBC, Citi, Discover), Option for Layaway, and Financial Loans via GE Capital, Sears has partnered with “Why Not Lease It” to offer leasing/rent options for merchandise within its Appliances, Mattresses, and Electronics depts.


13 answers

  1. We just had an experience at the Missoula Store. I would have to say you would be nuts to use this lease plan. We were told before we got the details that the lease was for 12 months. Wrong. The lease for $1100 was $240 down and $160 bi-weekly for 12 “weeks”. This a totally unreasonable time period. Were not told up for that there would be a down payment. We left the store empty handed. There is now way we would accept these terms.

    So warning do not use the lease option. You would be better off going to RentACenter orAArons.

    1. In response to dannsh

      Well I found out what went wrong at the store. The sales associate was not familiar with the lease program and was looking at the layaway options.
      After calling the leasing support and getting the correct information we went back to the store and completed the lease. The terms of the lease are workable.

    2. In response to dannsh

      Hi dannsh!

      We appreciate the update in regards to the Sears WhyNotLeaseIt program and the issues you had experienced.

      I am happy to hear that the terms have worked out for you and that you were able to take advantage of the leasing program.

      Have a wonderful rest of your weekend!

  2. When does this program start? I haven't seen it in the stores.

    1. In response to chill

      Hi chill! They are looking to begin this program on a slow roll out in March. Check your local store for more details!

      • San Jose, CA

    That would be a MUCH better program than the current pay one rent payment, before returning the used item, back to Sears.

    These folks are affectionately referred to as product "renters".

    They want NOTHING to do with any Protection Agreements or Service Plans, because they "know" the item they are purchasing will be returned within 89-1/2 days.

    Lease to own. That sounds like an even BETTER arrangement than "Layaway".

    The program should eventually include tools, lawn & garden and air conditioners to allow honest people a better chance at ownership of big ticket items.

    1. Sears recently lowered the return policy of most things from 90 to 60 days. Home Delivered items with a 1 Year warranty can now only be returned or exchanged via ROR within 72 hours after delivery, any visible damage must be reported before that time. Additional restrictions also apply, such as no refunds, only exchange, on used gas lawn equipment, power tools, inflatable beds, and video cameras.

    2. But anyway that has nothing to do with the new lease option :) The lease option gives you a minimum 5 month term, after which you can renew the lease, return the item, or buy out the lease to own the product.

        • San Jose, CA

      Excellent. I wish these policies were in effect while I was working "Returns" as a PMT.

  3. I forgot the best part, no credit is required to apply. FAQ: This is a leasing program. You make the payments and at the end of the minimum term you have the option to renew the lease, return the item or purchase the item in early buyout when eligible.

  4. The "Lease" or aka "Rent to Own" feature will be available as soon as next week in Ipad equipped stores.

        • San Jose, CA

      In response to Civsci

      So. Only the stores with the "newer technology" will be able to offer this program?

      Is the trial run being held in "Florida"?

    1. In response to Civsci

      It is being rolled out this Sunday on Ipad. Not just Florida.

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