Kmart to Roll out ‘Lease-to-Own’ Program

by Karl Utermohlen | November 11, 2013 12:09 pm

Kmart — a subsidiary of Sears Holdings (SHLD[1]) — is offering its lease-to-own program to stores all around the nation later this month.

Chicago Business Journal reports that the retailer[2] is making the program a permanent fixture on Nov. 22 after testing it for almost a month. The lease-to-own program allows Kmart customers to purchase items worth $150 or more by paying either bi-weekly or monthly installments. Sears Holdings’ vice president of financial services said that the “lease-to-own program will help ease some of the financial barriers our members and customers will face this holiday season.”

In order to qualify for the program, Kmart customers must be 18 years old, earn at least $1,000 a month and give a social security or tax identification number when applying.

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