Sears launches online leasing option

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Sears launches online leasing option

By Deena M. Amato-McCoy - 05/02/2018
Sears Holdings Corp. is offering a new payment option to its online customers.

The department store retailer is expanding its in-store LeaseIt program from WhyNotLeaseIt, to customers that shop across Sears’ and Kmart’s e-commerce sites and apps. The move makes Sears the only national full service retailer that offers a leasing option for products sold both online and in-store, according to a blog on the company’s website.

The program covers “hundreds of thousands of items” across a variety of categories, including appliances, lawn & garden, sporting goods, mattresses, electronics, tools and jewelry. Home delivery, installation and protection agreements can also be rolled into one lease. Any combination of eligible leasing products from different categories and services can qualify.

Here’s how it works: When an eligible item is chosen, the weekly lease payment is shown below the purchase price. Customers can select the lease option on the product details page, or when the merchandise has been added to their online shopping cart.

The leasing option is available on transactions that total $199 or more. After reaching the $199 leasing order threshold, customers can complete the lease application and set up payments. Credit checks are not required for approval.

The program offers weekly, bi-weekly or monthly payments, and installments are automatically deducted from a customer’s chosen bank account or credit card. After making their first payment online, members are directed to one of Sears’ websites or apps to finalize the lease. Purchases are also eligible for Sears’ return policy, according to the company.

The retailer originally launched LeaseIt in Sears and Kmart stores in 2012.

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