They say a dog is a man’s best friend — but what if you can’t afford to get that adorable puppy or kitten that you just fell in love with? Financing a pet may make sense for you. Here’s how to do it.
If you have a firm grasp on your debt and know you can pay things off before interest hits, or at least not much interest, then credit cards may be a good option for financing a pet.
The first step would be to make sure the credit limit available matches the pet you want to purchase. Even if you have a $5,000 credit limit there are pets that cost more than that.
30 Day Same As Cash
Another option many pet stores have is the 30 day same as cash option. Basically you pay what you can at the time of taking the pet home. Then you have 30 days to pay the amount in full. You may choose to pay a certain amount every paycheck for a month, pay daily, weekly, or whatever works for you.
The only word of caution here is make sure you really can pay for the pet within that 30 days if not you may be hit with some pretty hefty fees, or have the animal taken back after you’ve become even more attached then you were when you first met.
Getting financed before you even go to a store to find a pet is another great option. With Wags Lending this is fast and easy. You simply go to the website fill out the form and will be approved right then.
You then make payments as you go and have the option to buy out the lease at any time, which could ultimately save you money.
If you’re buying a pet online odds are that you will be asked to use paypal as the payment service. If that is the case you may qualify to get paypal credit which would let you get a pet today rather than waiting until you have the cash.
Another great thing about using paypal credit is that it gives you 6 months interest free if you spend more than $99 meaning most animals you buy would give you a “6 month same as cash” option in a way.
Does Financing a Pet Make Sense?
With all these great options you may have decided that you are getting that adorable puppy you saw in the mall this weekend, but have you really counted the costs?
Yes a dog is a mans best friend, and I personally love having animals around. They make good days great and bad days tolerable. There is no doubt that having a pet will bring joy to your life. But if you look at how much interest you’re paying for that joy that does sometimes lessen the joy.
If it does make sense to finance a pet to you then by all means use one of these great options. If however you would rather wait until you can actually afford to pay for said pet in cash, that option may be better for you.