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Using Katapult at Wayfair – Everything you need to know

If you need furniture for your home, but don’t have the cash to pay it in full, you may consider charging it. But if you will only make the minimum required payments, interest will accrue, and the cost of the item will skyrocket.

Katapult offers an alternative with its lease-to-own program. You sign a lease, make a small upfront payment, and make lease payments until you either return or own the item.

What is Katapult?

Payment methods:

Buy Now Pay Later, Lease to own, Rent to own, No Credit Check, Instant Approval
You can get approval for up to $3,500 to purchase desired products from top retailers like Amazon, Target, Walmart, and over 200 others, catering to your shopping needs with ease and flexibility.

Katapult is a lease-to-own program that gives consumers the option to lease items while they use them. Once you pay the item off in full, you own it. They customize payment plans to fit your budget and you get instant approval and shipment of the items included in the lease.

Related article: See the full list of shops that accept Katapult for BNPL

How Does Katapult Work?

Katapult is easy for consumers to use. First, you complete an application that takes approximately 60 seconds. You’ll get instant approval up to $3,500.

Once approved, you’ll make an initial payment at checkout. Katapult divides the remaining payments into a payment arrangement that works for your budget. You’ll know immediately how much money they require upfront and how much your monthly payments will be. They never change.

What are the Payment Options?

Katapult offers consumers several payment options. You can keep the lease for its entire duration, pay it off mid-lease, or pay it off in 90 days.

The faster you pay your lease off the least the purchase costs and the faster you own the product. All leases come with an initial payment requirement and a required monthly payment. You have the option to make extra payments and pay the lease off early or make the minimum payment each month.

For example, a $300 lease would have a $50 monthly payment and a $45 initial payment. You can then pay it in one of three ways:

  • Full-term lease costs $645
  • Pay off mid-lease and pay $450
  • Pay off in 90 days and pay $360

Pros and Cons of Katapult for Wayfair


  • You get pre-approved instantly so you know how much you can spend when you’re looking for furniture at Wayfair.
  • You can have more than one Katapult lease at a time if you have a good payment history
  • There isn’t any interest. You pay lease charges, but interest doesn’t accrue like it would on a credit card.
  • You can pay the lease off early and save money.
  • Katapult doesn’t charge late fees.
  • Your credit score doesn’t stop you from getting approved. Katapult checks your credit, but it’s not the only factor they use for approval.
  • You can return the product at any time and owe nothing else unless you are behind on your payments.


  • If you don’t pay the lease off early, it can double the cost of your purchase.
  • Katapult doesn’t accept down payments, so you can’t pay the purchase price down.
  • It can be difficult to cancel an order.

Final Thoughts

Katapult offers another option to own the furniture you want from Wayfair without going into debt. The plan is flexible and offers the option to return the items if you can’t afford the lease payments any longer.

The faster you pay your lease off, the less the purchase will cost, but it won’t affect your credit and if you have bad credit, it won’t stop you from getting a lease. Katapult can be the answer to furnishing your home with the products you want that you otherwise wouldn’t be able to afford.