Puppy Financing, Is This Rave Really Worth It?
Financing is a busy area of the consumer market, and these days, it is possible to finance just about anything! Though this sounds like an excellent opportunity for some, people are taking the concept to the next level by getting puppy financing. "What exactly is puppy financing?" And "is it really worth it?" Let's find out.
How does financing a puppy work?
Before we get into whether puppy financing is worth it or not, let's look at what puppy financing really is and how it works. Pet financing is basically just a loan you take to pay for your new pet. It isn't different than the loan you might get to pay for your debt or home improvement. The only variance is that you use your loan to pay for a puppy. It equips you with the necessary funds to get a new pet or afford veterinary and other pet-related bills.
Here is how it works
• You find a puppy and apply for a financing quote
• After getting a quote, you sign up for monthly payments for a few years
• Once the entire payment is made, the puppy is all yours to enjoy.
Is puppy financing worth it?
Let's find out by looking at some pros and cons.
Pros:
• You get paid directly
When you opt for puppy financing, lenders usually pay directly into your account. This allows you to work with breeders who don't accept financing.
• No collateral required
Puppy financing is unsecured credit, so you don't have to placeanything up for the deposit.
Cons
• Higher loan costs
Unsecured loans are likely to cost higher than secured ones. Their interest rates are incredibly high, ranging from 36% to 150%.
• It is more debt
Puppy financing is simply a debt to be piled up on all of your other expenses. The puppy you have fallen for sure must beadorable, but you need to decide whether the liability is worth adding to the list of other ongoing dues.
So, is financing a puppy worth it?
Well, that hinges on your personal opinion.
If you hold a remarkably high credit score and can get a positiveinterest rate, then puppy financing might be right for you.
If you have low credit ratings, be careful as the interest rate and fees could make the loan a nightmare for you. So it would be more reasonable for you to consider other options, such as adopting a pet from your nearest animal shelter.
Financing is a busy area of the consumer market, and these days, it is possible to finance just about anything! Though this sounds like an excellent opportunity for some, people are taking the concept to the next level by getting puppy financing. "What exactly is puppy financing?" And "is it really worth it?" Let's find out.
How does financing a puppy work?
Before we get into whether puppy financing is worth it or not, let's look at what puppy financing really is and how it works. Pet financing is basically just a loan you take to pay for your new pet. It isn't different than the loan you might get to pay for your debt or home improvement. The only variance is that you use your loan to pay for a puppy. It equips you with the necessary funds to get a new pet or afford veterinary and other pet-related bills.
Here is how it works
• You find a puppy and apply for a financing quote
• After getting a quote, you sign up for monthly payments for a few years
• Once the entire payment is made, the puppy is all yours to enjoy.
Is puppy financing worth it?
Let's find out by looking at some pros and cons.
Pros:
• You get paid directly
When you opt for puppy financing, lenders usually pay directly into your account. This allows you to work with breeders who don't accept financing.
• No collateral required
Puppy financing is unsecured credit, so you don't have to placeanything up for the deposit.
Cons
• Higher loan costs
Unsecured loans are likely to cost higher than secured ones. Their interest rates are incredibly high, ranging from 36% to 150%.
• It is more debt
Puppy financing is simply a debt to be piled up on all of your other expenses. The puppy you have fallen for sure must beadorable, but you need to decide whether the liability is worth adding to the list of other ongoing dues.
So, is financing a puppy worth it?
Well, that hinges on your personal opinion.
If you hold a remarkably high credit score and can get a positiveinterest rate, then puppy financing might be right for you.
If you have low credit ratings, be careful as the interest rate and fees could make the loan a nightmare for you. So it would be more reasonable for you to consider other options, such as adopting a pet from your nearest animal shelter.
