Why would people use the Progressive Leasing program to buy tires and wheels when they can just put it on a credit card or pay cash and save money? According to Quentin Fottrell with marketwatch.com:

 

“A $2,000 credit balance with an 18% annual rate, with a minimum payment of 2% of the balance, or $10, whichever is greater, would take 370 months or just over 30 years to pay off.”

 

Unless you’re planning to pay off your tires and wheels that you put on your credit card within 1 year, the benefits of using Progressive Leasing far outweigh the benefits of using a credit card:

 

  • With Progressive Leasing, you will own your tires and wheels at the end of a year or sooner if you utilize the 90-day buyout option.

 

  • There’s no hard credit check with the Big 3 credit bureaus so your credit score will not go down as the result of an inquiry. This option is attractive to people who are looking
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