Paying off an Okinus lease early

How early purchase works

An Okinus lease runs for a set number of payments. You own the item when you make the last one. An early purchase option lets you skip the rest by paying a payoff amount instead.

• Available any time

  Okinus says you may pay off your lease at any time.

• Not automatic

  You aren’t enrolled in an early purchase option when you sign. You have to ask.

• Ask customer care

  Call or chat with a customer care specialist to use an early purchase option.

• Pay by phone, app or web

  Okinus lists a payoff line at 1-844-924-3009, and says you can also pay off in its app or on its website.

Source: Okinus: Consumer FAQs

How to pay off your lease, step by step

1. Find the early purchase section of your lease agreement so you know the terms that apply to you.
2. Contact Okinus by phone, chat or the app and ask for your current payoff amount.
3. Ask how long the quote is valid and whether it includes tax and any fees.
4. Use the calculator below to compare the quote with your remaining payments.
5. Pay the amount, and ask Okinus to confirm that scheduled automatic payments are stopped.
6. Get written confirmation that the lease is paid in full and you own the item. Keep it.

Sources: Okinus: Consumer FAQs; Okinus: Legal: service agreement and terms

See what you’d save

Want the full picture, including what the whole lease costs? Use the lease cost calculator.

Express Pay, 90-day and other short windows

Some leases include a short window near the start when buying out costs much less. You may see it called Express Pay, a 90-day option or an early buyout period. The name, length and price depend on your agreement, the retailer and your state.

Don’t rely on an ad or a salesperson’s summary. Check the date your window ends in the agreement itself, and ask Okinus to confirm it.

Sources: Financing: Okinus lease-to-own disclosures; Okinus, Inc. complaints

Avoid the most common payoff problems

Complaints about Okinus on the Better Business Bureau often involve payoffs: payoff amounts that changed between calls, automatic drafts after a payment, and disputed fees. A few habits help:

• Get the payoff amount in writing, with the date it expires.
• Ask about pending drafts. A scheduled payment may already be in process when you pay off.
• Keep every receipt and confirmation number.
• Check your credit reports afterwards. Okinus reports to Equifax and TransUnion, so the account should show as paid.

Sources: Okinus, Inc. complaints; Okinus: How It Works

If you can’t pay it off yet

• Keep paying

  You’ll own the item after the last scheduled payment. Ask again later; the payoff amount usually drops as you pay.

• Return the item

  Okinus says you can end the lease with no penalty by returning the item in good condition while your account is current.

• Use cheaper money

  If the payoff saves a lot, savings or a lower-cost loan could cover it. Compare the loan’s total cost with the savings first.

Source: Okinus: Consumer FAQs

Common questions