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This company hides behind a no-credit financing label, but misleads people to signing a year-long contract where they will charge you FOUR-TIMES the cost of what you are buying. In my case I was buying a discontinued mattress from Mattress Firm for $400 that ended up costing $1,600 (FOR A MATTRESS ONLY) by the time I paid out the contract. You are NOT financing with Progressive Financial, you are leasing. BIG DIFFERENCE. By leasing, they get around maximum interest rates because they are not loaning you money. That wasn't explained at all to me before I signed the 10-page contract electronically. I was mislead into signing by the sales associate at Mattress Firm, who told me that Progressive pays them for it and I am paying Progressive back, Progressive reports to all three credit bureaus so it helps my credit to pay on time and that it's interest free for 90 days, which is the biggest lie they tell you.

First, Progressive DOES NOT report to credit bureaus at all. Remember, this isn't credit, it's a lease so they do not have to report to credit bureaus.

The 90 day option is also not interest free. They tell you you can buy it for sale price, which is true, as long as you do so in 90 days. If you don't, then you will be responsible for the entire lease with only an early buyout option at double the sale price. That doesn't go down the more you pay on it. Also, if you pay more, it does not lessen the amount of payments. You sign a lease contract, not a credit agreement.

My biggest issue, however, is their collection practices. They screwed up my payment dates, making it two days before my payday (which they tell you that your payment dates will run parallel with your pay days). So it never got paid on the date they set for my payments being due. I emailed them three times about this and they refused to change it. However, they would call me on the FIRST DAY it was late repeatedly. I deliberately failed to pay my bi-weekly payment for three days once to see how many times they would call - 15 times in three days. My credit card doesn't even call me 1 time if my bill payment is three days late.

This person wrote the review because of "i was mislead" of progressive financial lease from Progressive Leasing. Reviewer claimed that he or she lost $1000 and wants Progressive Leasing to issue a partial refund.

The author asks this business to immediately contact him/ her to briefly discuss his/ her negative experience with the company.

We collected other reviews about products and/or services offered by Progressive Leasing for you to read. This information may help you with your purchase decision.

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Anonymous
#1503729

I just leased with Progressive leasing I purchased a high end table and a sectional for $1400. I was charged the $50 fee at start up and paid monthly payments as scheduled then paid the remaining balance 2 days before the 90 days same as cash option expired.

If you pay it off within 90 days you DO NOT pay interest. They do not mislead you it is clear in the contract and they explain that at the time the contract is signed. If you are 1 day late from the 90 day same as cash you will be charged the interest from the beginning of the contract so the entire length of the lease. Not sure why you are even upset if you would have paid it on time and before the 90 days then you would not of had this issue.

It's all in your contract and you get a copy of all the documentation that you signed.

I actually went back to purchase a bedroom suit after paying off the first lease the only down fall I see is after paying the lease off you have to wait 30 days to lease again. I'll be going back in July.

Anonymous
#1475452

I have leased with them twice pay off your items within 90 days and you'd won't have any issues, they charge a $49 fee which is reasonable to me as I had 90 days to make incremental payment. Be responsible make the payment a priority for 90 days and this blog wouldn't exist.

You signed a contract if you don't take advantage of the buyout option don't be surprised or mad when the company enforce the contract you signed. It's not a scam if you cant afford to pay it off in 90 days my suggestion is don't don't lease save your money then buy it cash.

Otherwise if you do and don't use the buyout option expect to pay a ridiculous amount of money. Stay on top of your bills and stop complaining

Anonymous
to Anonymous #1481824

I agree with your entire statement. It was clear at the beginning of my lease this was a lease, not a financing option.

If you’re adult enough to sign a contract, you’re adult enough to read the terms and conditions which clearly states pay it off in 90 days and you won’t pay an astronomical amount. My contract specifically stated how much I’d pay if I didn’t pay it off I time.

Anonymous
#1467591

Yes i tried to cancel my account over two months ago with mattress firm and tried to get ahold progressive leasing mattress firm just hangs up on me and progressive leasing has a waiting line of whom im guessing are extremely unsatisfied customers and youre definitely correct about ridiculous payments i got a 800$ mattress for 2500? Thats a bit out there half tempted to switch banks so they can finally get the hint that i dont want them anymore

ProgressiveLeasingLLC
to Ethan M #1468065
Progressive Leasing Verified Representative

We understand how frustrating that must be, but the best way to resolve this is over the phone. We want to assist you in any way possible.

We have searched our system, and unfortunately we couldn’t find a phone number to reach you.

We would like to provide you with a resolution. Please reach out to us at 877-593-2520 so we can help you.

Anonymous
#1461385

I was mislead also into thinking that doing this would help my credit score. And that's the Only reason I did it.

I would've just paid cash for the furniture I purchased, but instead was locked into a contract. My fault for not understanding what I was signing because they got over big-time with extra fees for even leasing in the first place, BUT total lie and neglect on the building credit part.

ProgressiveLeasingLLC
to Rachel #1461452
Progressive Leasing Verified Representative

We apologize for any frustration you have experienced and want to thank you for bringing your concern to our attention. We have searched our system, and unfortunately we couldn’t find a phone number to reach you.

We would like to provide you with a resolution. Please reach out to us at 877-593-2520 so we can help you.

Anonymous
#1442183

Reading the comments do you report to the credit bureau ?

ProgressiveLeasingLLC
to Melissa Wright #1442348
Progressive Leasing Verified Representative

Thank you for the question! We do reserve the right to report to Experian, Equifax, and Transunion.

However, at this time, we do not report payment history to the three major credit bureaus.

If you have any further questions, please do not hesitate to contact us at 1-877-898-1970. We appreciate your business, and we hope you have a great day.

Anonymous
#1433597

I got some rims and ive been telling them to take the payment out on saturdays and they keep doing it on thursdays why? So my *** can bounce and they can charge their fee and make more money

This company squeezes all the money they can get out of you try to screw you over *** rims went up to 3 times their value im fed up with them man you miss one day the call and call from diffrent numbers ya me tienen asta la ***

ProgressiveLeasingLLC
to Anonymos #1433728
Progressive Leasing Verified Representative

We apologize for any frustration you have experienced and want to thank you for bringing your concern to our attention. We strive to provide an excellent customer experience and hope we can do the same for you.

We encourage you to reach out to us at 877-593-2520 so we can resolve this situation for you in a timely manner. We look forward to hearing from you!

Anonymous
#1401895

I'm wondering like other companies though, especially if you haven't paid in a year, depending on your balance they can get the law involved and you can see charges for theft since the items don't technically belong to you.

Anonymous
#1400685

They don’t report to credit. I stopped paying them 1 year ago because they’re thieves and nothing was reported.

Anonymous
to Jennifer #1434489

Didn’t they come take your merchandise though?

Anonymous
to Jennifer #1438270

So after stopping payments... they never reported anything against your credit or did anything legally? I’m trying to figure out my lease that I have with them and all these issues and I’m at the point where I just want to stop payments with them but I don’t want it to go against my credit or anything legal to happen

ProgressiveLeasingLLC
to Anonymous #1439091
Progressive Leasing Verified Representative

We understand how frustrating such difficulties can be. We want to assist you in any way possible.

We have searched our system, and unfortunately we couldn’t find a phone number to reach you.

We would like to provide you with a resolution. Please reach out to us at 877-593-2520 so we can help you.

Anonymous
to Anonymous #1505416

I stopped paying. 2 years now they never report anything

Anonymous
to Jennifer #1454949

Did they come take your stuff or file criminal charges

Anonymous
Cape Coral, Florida, United States #1341722

So what happens if you stop paying them altogether. .does that negative balance go on the credit?

Anonymous
to Anonymous #1351379

Yes

Resource: Spoke with a rep over the phone regarding this

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