Like many people buying a cell phone is a costly purchase. But considering how much we use our devices on a daily basis their price tag is easily justifiable. Being able to own the device outright, and not be under contract, offers greater flexibility. You can switch providers, take the device outside of your country, and not be responsible if it gets lost or stolen. Having the available funds to do this is another story.

If you’re not a fan of credit cards or have bad or maxed out credit, buying the devices can be difficult. So, it’s no wonder many people are turning to lease to own programs. Companies like Progressive leasing and Affirm provide funds for people with little to no credit. As long as meet certain requirements like, a bank account that has a history of direct depositing, enough for a down payment (usually a flat rate of or a percentage of the total price) getting approved is not difficult. This option works great for anyone who needs a cellphone but doesn’t have the ability to make the purchase on their own.

After applying for the lease, a lease will be approved for a certain amount. This varies from individual to individual. The more you deposit on a regular basis determines the amount you are approved for. Even if you have a bad credit rating or very little credit, the leasing company will use the amount of deposits into your account and frequency as its primary qualifier. With this, leaser’s can acquire an unlocked device that is free from any restrictions from a carrier. And because the device is unlocked it will work on any carrier in any country.

This makes leasing to own a very attractive option for many people. And if you’re able to repay the amount you were funded within 30 days than there will be no interest added. Otherwise you can choose a payment plan that suits your needs which vary depending on the company. Another bonus is returning the device early, because it’s a lease the device is essentially on rent until it’s paid off. So if for any reason you may return the device and the payments will stop.

The lease to own option for devices gives consumers in certain situations an easy way to obtain not just cellphones but laptops and tablets also. This makes the lease to own option very attractive to many different consumers.