If you want to get your hands on great TV technology but don’t want to have to fork out premium prices, there is now a clever new way to get the latest in home entertainment on a more affordable basis.

TV titan LG has just announced LG Flex, the firm’s first subscription service in the UK that lets you lease TVs, soundbars and monitors on a monthly payment schedule with no upfront costs.

LG has partnered with tech lease company Raylo to offer LG OLED TVs from £26.33 per month, QNED TVs from £17.83 per month.

You could even opt to hire the enormous 75-inch QNED86 TV for £43.95 per month. That screen usually retails for £1,699. That means you could rent the TV for 38 months before you’d paid the equivalent RRP – but, as with all Raylo leasing, you never own the product no matter how much you’ve paid.

This is purely a hiring service, and is not the same as paying off the cost of a smartphone handset via a contract.

The service could be handy if you want a TV for only a short amount of time, or if you are having an event. It might be attractive to football fans with the men’s World Cup coming up who want the biggest TV and best soundbar during the tournament. Afterwards, the kit can be easily returned.

“We know people want greater choice in how they enjoy the latest technology,” said Christina Sangmi Lee, Head of LG.com. “By partnering with Raylo, we’re able to offer a subscription experience that meets the expectations of today’s customers. We’re excited to bring LG Flex to market, offering more flexible and affordable access to LG’s latest tech.”

“Electronics brands are increasingly moving beyond one-time sales and toward subscription-first models,” said Karl Gilbert, CEO and Co-Founder of Raylo.

Raylo offers new and refurbished smartphones, laptops, tablets, games consoles, watches, headphones and even desktop PCs, as well as home and beauty products.

Leasing tech is becoming more popular along with purchasing secondhand and refurbished tech from companies such as Backmarket. Even mobile firms such as Giffgaff and Samsung are now selling refurbished smartphones directly to customers, offering a cheaper alternative to buying a new handset.

While leasing is not buying, it’s a model that has existed in the car market for several years, and LG’s partnership with Raylo could prove a short- to mid-term way for you to get your hands on some of the best TV tech around.