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Katapult

Katapult

With Katapult, you get a cutting-edge lease to own option built for you, with no credit required. You can apply using our intuitive online process in-store or at home while shopping online. Our flexible pay-over-time options coordinate with your pay dates. So, you make payments when you have the cash.
Pay over time & enjoy your items!

Pay over time & enjoy your items!

You’ll make recurring payments to Katapult with the option to pay off at any time. You own the items once you pay off or complete your lease. The sooner you pay off the more you save!

Payments plans tailored to you

Payments plans tailored to you

We’re able to match you with a comfortable payment plan that aligns with your budget and pay dates. With only $45 out of pocket, you get to take your items home or have them shipped immediately.

Instant approval decision and shipment

Instant approval decision and shipment

No long forms. You’ll know if you’re approved instantly and your order will ship as it would with any other form of payment, as quickly as you choose!

FAQ

What is Katapult?

We are the leader in the no credit required, lease to own space. Have bad credit? Don’t have credit history? Not an issue. We offer a simple, straight-forward lease to own payment option to help you acquire the products you want and need from our top retailer and merchant partners. These include electronics, appliances, furniture, automotive, musical instruments, and more.

What is lease to own?

We are glad you asked! Lease to own means that you make recurring payments for the use of the products you have selected. You have no long term obligation to continue leasing, and can return the product to Katapult at any time with no further obligation other than for amounts past due.

In addition, you have several options to acquire ownership of the product you are leasing. A lease purchase agreement through Katapult offers flexibility that may make it more attractive than financing. With each payment, you have the option to continue leasing, buyout, or return your items.

Lease to own gives you the power to purchase what you need when you need it.

What is needed to apply for a Katapult lease purchase agreement?

  • A valid mobile phone number that can receive SMS text
  • A valid US address
  • A valid Social Security or Taxpayer ID Number (ITIN)
  • A valid email address
  • A valid credit or debit card to make payments (no prepaid or gift cards)
  • A valid photo ID showing you are 18 years of age or older

Getting pre-approved for a Katapult lease purchase agreement does NOT affect your credit score!

Who can get a Katapult lease?

Anyone over 18 years old may apply and may be approved, other requirements apply.

How do I use Katapult?

Before pre-approval
You can apply at any of our partner stores online or in-store. If approved, you will be provided with an available Katapult lease purchase agreement limit that can be used to lease to own a product.

After pre-approval
For qualified products, you may get a lease purchase agreement in a few simple clicks.

  1. Select the Katapult button on the checkout page
  2. Enter a few pieces of information to verify your identity and payment information. Don’t worry, our application does not request checking account, employment verification or personal references.
  3. Receive an instant decision
  4. Review and submit your order and the retailer sends you the products!

We’ll send you a welcome email that gives you access to your account, customer service, and more.

In addition, you have several options to acquire ownership of the product you are leasing.  Katapult lease to own offers flexibility that may make it more attractive than financing. With each payment, you have the option to continue leasing, buyout, or return your items.

Can I lease to own multiple items at once?

Yes

Do I have a limit on how much I can lease to own with Katapult?

Katapult provides you with an available Katapult lease to own amount that can be used to lease products once you are pre-approved.  Your available Katapult limit can be viewed on the success page of your application, in emails that Katapult sends upon approval, and on your personal account page here.  Pre-approvals are not guaranteed indefinitely and may change based on varying factors, such as your personal financial circumstances, where you shop, and how long ago you applied, among other factors.  Katapult may change your pre-approval in our sole discretion, at any time, without notice to you.  Review the Customer Portal for your most recent pre-approval information.

Do I pay sales tax using Katapult?

Yes. We charge and collect sales tax. Sales tax is added to all lease to own payments and buyouts.

Does Katapult accept down payments?

Not currently, but this is something we are working on for the future, so check back with us.

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

How do I cancel my order?

Please contact the retailer to cancel your order before it has been delivered. We will cancel your lease purchase agreement once we receive the retailer’s confirmation that the order has been canceled. If you want to cancel the lease purchase agreement after the product has been delivered to your home, you will need to reach out to the Katapult Customer Service Team to coordinate the return by calling 833- KATAPULT (528-2785) or via email to [email protected] or by using the LiveChat feature.

How do I make my Katapult lease to own payments?

Your first lease to own payment is due at checkout. Then recurring lease to own payments are automatically charged to the card you provided at checkout. You can also make lease to own payments by logging into your Katapult account. You can access your lease purchase agreement account information on our site by clicking here. Please contact customer service using Live Chat or call at 833- KATAPULT (528-2785) if you need to update your account or payment information.

How much does my Katapult lease purchase agreement cost?

With Katapult, the power to save is in your hands.  Katapult offers early payoff options to keep more money in your wallet.  The sooner you payoff the more you save.

If life gets in the way and an early buyout is not an option for you right now, that’s okay, with Katapult you can continue to lease to own and make payments on a schedule that is convenient for you.

Visit the “Cost of ownership” page under for more details.

In which states is Katapult available?

We are currently only available in the United States. We do business in 46 states and Washington DC. We presently do not do business in Minnesota, New Jersey, Wisconsin, and Wyoming.

My credit is not the greatest. Do I need to have good credit to apply for a Katapult Lease purchase agreement?

No credit? Bad credit? No problem. We understand that things come up in life. We work with customers that have no credit, bad credit or a bankruptcy. “No credit required” does not mean nor imply that no inquiry will be made of credit history or creditworthiness. We may check past transactional history and report information about your lease purchase agreement to credit reporting agencies, but no established credit history is necessary.

What are the advantages of Katapult lease purchase agreement vs. a loan (financing)?

Loans generally offer lower recurring payments than lease purchase agreements, while lease purchase agreements offer the flexibility of continuing to lease, buy, or return the product. Also, there is no danger of penalty interest (be that compounding or deferred) or loan acceleration with Katapult.

Loan: You can borrow money to buy something and you pay it back over time, plus interest.

Katapult Lease purchase agreement:  You make the appropriate lease purchase agreement payments on or before the due date for the use of your products.  With each payment you may choose one of three options:

1. You can continue using the products by making the lease renewal payment in advance of the payment due date.
2. You can buy the products at any time.
3. You can return the products to Katapult with no further obligation, except for any past due balances and any restocking fees that may apply.

What are the terms of a Katapult lease purchase agreement?

Our auto-renewing lease purchase agreements are 12 – 18 months depending on the lease amount and state in which the customer resides. With a Katapult lease purchase agreement you have three options:

1.) Continue to make lease payments and a portion of every payment goes toward reducing the buyout price.

2.) Buy the products outright at any time during your lease purchase agreement term.

3.) Return your item(s)

For more information regarding the terms of your Katapult lease purchase agreement you can contact Katapult by calling 833- KATAPULT (528-2785) or by using LiveChat.

What do I do if I need to return the products from my Katapult lease purchase agreement?

Customers have the right to return their product within 30 days of receipt of their product or such other deadline as stated in your return policy and receive a refund of applicable money paid with the exclusion of the initial $45 payment, unless refunding the initial payment is required by applicable law. Your return policy stays in effect for transactions made with Katapult.

If your return window of 30 days (or more where applicable) has passed, customers may contact Katapult and return the product(s) to Katapult, releasing them from future payments.

If returns are applicable by your retailer, please contact Katapult’s customer service by calling 833- KATAPULT (528-2785) or via email [email protected] or using LiveChat.

Why is it important to make Katapult lease to own payments on time?

Failure to make on-time payments could result in late fees and will impact your ability to get a Katapult lease in the future.

Will Katapult remind me to pay my bill?

Everyone is a little forgetful, so we try to help. Before each payment is due, we’ll send you a text message and an email regarding the payment date and the amount of your next lease to own payment.