A Progressive lease isn't credit. With a credit transaction, financing or a loan, you make a purchase with borrowed money that must be repaid, often with interest. With a Progressive lease, we purchase the merchandise you select from the retailer. Then, you sign an agreement to lease that merchandise from Progressive. Progressive owns the merchandise, but you can take ownership after making all required lease payments or through an early purchase option. While there's a cost associated with Progressive’s leasing services, we don’t charge interest.