Frequently Asked Questions about Purchasing Products Through First State



















First State is a company that partners with retailers and provides affordable monthly payment options on furniture, appliances, electronics and more. We’ve been a leader in the consumer lease-purchase business since 1985. With First State’s “We Say YES!” program, we help consumers get the merchandise they want with affordable payment options through their local retail stores. All customer information and consumer lease-purchase agreements are confidential, secure, and protected by federal and state laws.

First State’s Lease-Purchase program (sometimes called Rental-Purchase) offers an option for you to pick out the merchandise you need and take it home today. And you don’t have to make a big upfront payment or a long-term commitment.

Upon lease approval, you pick out the merchandise you want, and First State purchases the merchandise from the participating merchant location. The property is owned by First State and rented to you until you elect to complete all of the lease renewal payments, or use an early purchase option. After that, you own the merchandise! Alternatively, you may also terminate the lease at any time, without penalty.

There is not an interest rate. First State purchases the merchandise from the retailer and the customer makes affordable monthly payments until it’s paid in full or the merchandise is returned to our office. The monthly payments are set up on a lease–purchase agreement as determined by your state law.

The lease-purchase agreements are set up on payment terms of 24 months. You can buy-out the agreement at any time.

Absolutely! Customers can buy out the lease-purchase agreement early at anytime with no penalty and save a significant amount off the total remaining cost. Customers can exercise the 100 Day Buy-out Option, 6 Month Buy-Out Option, 12 Month Buy-Out Option, or buy-out early the lease-purchase agreement after the 12 Month Buy-Out Option at a significant savings. Contact your local First State office for your individual savings.

In order to apply with First State, you must have:

  1. an active checking account with at least $1,000 of income per month
  2. at least 3 months of income history with your current income source
  3. a government-issued photo ID
  4. social security number or ITIN

If you have all of the above, please fill out an application and we’ll let you know if you’re approved so that you can pick out the merchandise you want. Learn more about the lease purchase agreement process.

You can be approved for leasable items valued up to $6,000 or more.

No, your approval is specific to the location you apply through. If you would like to use a different location, you must re-apply and get approval from the other location. However, you can only have one active approval at a time, and re-applying will cancel your first one.

Your approval lasts for 60 days.

There’s no fee! You can apply with First State for free!

Yes! By making on time payments to First State, your payment history will be reported in good standing to the credit bureau and will help to build or improve your credit rating.

With First State, you don’t need to have a good credit score or any consumer report history in order to get approval to buy the products you want. When you apply for a lease, we take multiple factors into consideration so it’s easier for you to get approved. Plus, we have a strong history of approving customers with little to no consumer report history or credit score.

Yes, we do receive your credit score as part of our review of your consumer report. We don’t base our decision on just your credit score. We look at the big picture and often approve customers with little to no consumer report history or credit score.

Yes, we report your payment activity to Experian.

After you pick out the merchandise and sign the Lease-Purchase Agreement, First State purchases the merchandise from the merchant. First State owns the merchandise, and you’ll make lease payments until you buy-out or terminate the Lease-Purchase Agreement.

The payment terms of the lease-purchase agreement can be adjusted to ease the burden of the monthly payment or the merchandise can be returned with nothing further owed. The lease-purchase agreement must be paid up to date when the merchandise is returned. There is no long term commitment for the customer. Missed payments or slow pays do not affect the retail partner.

First State offers lifetime reinstatement on all returned merchandise. As long as we are able to get you reapproved and were in good standing when the merchandise was returned, you can get the merchandise and start up with the payments where you left off.

Any warranty issue or defective merchandise will be referred to the retail partner that sold the merchandise.

Shop carefully! Executing your lease obligates you to the minimum term on the agreement with First State. The merchandise cannot be returned to the retail partner once it leaves their store, because First State owns the merchandise.

First State requires a $10 administration fee at the time the lease-purchase agreement is signed.

Yes! You can make payments online by clicking on the secure “Make a Payment” button above. Or you can make payments over the phone, or in person at your local First State office.

Learn More About First State's Benefits to the Customer

At First State, we make it easy for customers to get approved to buy the merchandise they want. Discover how we can help you through our flexible payment options and easy application process.

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