What is LEASE TO OWN?

An agreement allowing the renter to buy the leased item when the lease period expires. Typically, some or all of the lease payment is applied to the purchase. A lease-to-own arrangement usually has predetermined time and price for the purchase stated.

More On This Topic



Link to This Definition

Did you find this definition of LEASE TO OWN helpful? You can share it by copying the code below and adding it to your blog or web page.
Edited and fact checked by James: Google +