Does Katapult charge an interest rate (Annual Percentage Rate)?

No, we offer you a lease to own program. Customers are entering into a lease purchase agreement to lease products with an option to own, by exercising an Early Purchase Option or making all lease to own payments scheduled in the lease purchase agreement. The lease purchase agreement is not a credit transaction. Lease to own payments do not include an interest rate or APR and these will not be used to calculate the lease amount.

We consider the following four factors when calculating the lease to own payment.

1. The cash price of the product
2. The state in which the customer resides
3. The maximum term a customer can lease the product
4. The state/city sales tax rate