A pet can bring joy to your home and family. It can also come with a huge price tag, especially when you’re in the market for a specific breed or have a pet with health problems. Pets require money, so you need to be fully prepared for the initial costs involved with buying one, as well as ongoing, routine care costs and unexpected veterinary bills.

There are a variety of financing options available to help ease the financial burden of buying or caring for your pet. We have brought all the information together to help make the financial aspect of pet ownership as easy as possible. Keep reading to learn more about your options when it comes to pet financing.

In This Article

Pet Financing Options

If you need help purchasing a new pet or providing an existing pet with the proper medical care, there are a variety of financing options you may be eligible for:

Financing Programs Specifically for Pets

There are a variety of financing programs designed specifically for the soon-to-be or existing pet owner in mind. Note that some financing options are available only through certain sellers or veterinarians.

1. CareCredit Card

  • What expenses are covered? The CareCredit Card is specifically for paying for veterinary costs through the CareCredit network of veterinarians.
  • How much can you finance? You can finance pet care for any amount from $1 to your credit limit. Credit limits are determined by creditworthiness.
  • Financing options: Various options are available, including a no-interest payment plan where borrowers owe no interest if they meet their minimum payments and pay off the balance within 24 months.  Read more about this and other options.
  • Restrictions: CareCredit is for financing routine and other veterinary care. It cannot be used to purchase pets and can only be used by providers within the CareCredit network. There are approved veterinarians nationwide, check here to find a network provider (be sure to set the “profession” to veterinary).
  • Interest rates: The standard APR is 26.99%, but this varies based on creditworthiness.
  • Origination fees: None.
  • Benefits: CareCredit is a credit card that can be used over and over without applying for loans each time.
  • How to apply: Visit their application page.
  • Read more about the CareCredit program.

2. First Look Approval

  • What expenses are covered? Veterinary and purchasing pets.
  • How much can you finance? Up to $35,000
  • Financing options: Several payment plans are available, and depend on the store or clinic you apply with.
  • Restrictions: Available only through participating businesses, including pet stores and clinics.
  • Interest rates: Rates begin at 6%.
  • Origination fees: Unspecified.
  • Benefits: Approval for these loans takes only seconds, and some loans are available for people with FICO scores as low as 550.
  • How to apply: Applications are available in participating businesses or online on their websites. First Look Approval does not publish a list of approved lenders.
  • Read more about the First Look Approval program.

3. My Pet Funding

  • What expenses are covered? Purchasing pets.
  • How much can you finance? $300-$5,000
  • Financing options: My Pet Funding provides leases. Leasing periods range from 12 to 28 months, depending on the lease amount.
  • Restrictions: Available only through participating businesses. To identify participating businesses, call customer service at (800) 239-9423. There is also a list of retailers on the second page of the application. Until you complete the monthly payments and the pay the purchase price at the end of the lease, you will not own your pet.
  • Interest rates: Because this is a lease, there are no interest rates. Instead, you pay a monthly rental fee and an additional fee to buy your pet at the end of the lease. These fees can add up to over twice the purchase price of a pet if the lease is run to the end of its term.
  • Origination fees: None.
  • Benefits: Options for people with low or no credit are available. There are always early buyout options available, though certain fees may apply.
  • How to apply: In store or online using their application page.
  • Read more about the My Pet Funding program.

4. PetLoans.com (LendingUSA)

  • What expenses are covered? Purchasing pets, pet supplies, and veterinary costs.
  • How much can you finance? The amount you can borrow ranges from $1,000 to $35,000. PetLoans does not offer loans in Connecticut, New York, West Virginia, and Vermont.
  • Financing options: Flexible based on customer needs.
  • Restrictions: While they do not publish a minimum required credit score, they are not always able to provide financing for those with bad credit.
  • Interest rates: Interest varies based on credit score, application information, loan amount, loan term, and credit history. For a quote, check here.
  • Origination fees: There is an 8% loan origination fee that is rolled into the amount of the loan.
  • Benefits: Fixed terms, high financing approval rates, and fast loan decisions.
  • How to apply: Begin by visiting the PetLoans application page. After you submit your application, you will be given loan options and directions on how to continue. You can then use PetLoans through a participating pet store, breeder, or veterinary clinic to finance your purchase.
  • Read more about the PetLoans programs.

5. Scratch

  • What expenses are covered? Veterinary costs.
  • How much can you finance? $200-$10,000
  • Financing options: Three options with varying interest rates are available, from 0-12 months in duration.
  • Restrictions: Only for use with veterinary practices that are partnered with Scratch.
  • Interest rates: Rates vary, but they start at 5.9% APR.
  • Origination fees: These are included in the APR you will be given. Get a quote to learn what your rates and fees will be.
  • Benefits: Prequalification can be done in under two minutes, and because this uses a soft credit check, it does not hurt your credit score if you are denied a loan. Scratch pays the vet immediately upon approval, and you can use this service for all your qualifying vet bills.
  • How to apply: Visit Scratch’s application page.
  • Read more about the Scratch program.

6. Wags Lending

  • What expenses are covered? Purchasing pets and pet supplies.
  • How much can you finance? Up to $5,000
  • Financing options: Wags offers closed end consumer leases. Leases can be for 24- or 48-month terms, and an early buyout option is available. Payments are fixed.
  • Restrictions: Wags Lending can be used to finance the price of a pet, sales tax, and additional items like beds and toys at the time of purchase. However, it is a lease, not a loan. Until the lease is bought out or the final payment is made with a purchase fee (15% of the pet’s fair market value), you do not own the pet. Each lease can only be used for one pet. Wags Lending can only be used at participating retailers.
  • Interest rates: Because this is a lease, there are no interest rates. Instead, you pay a monthly rental fee. These fees can add up to over twice the purchase price of a pet if the lease is run to the end of its term.
  • Origination fees: None
  • Benefits: Wags offers a pet warranty — customers can receive reimbursements for certain vet expenses if the pet has a covered illness or congenital defect and is deemed unfit for sale.
  • How to apply: You can apply and receive approval prior to shopping at participating retailers. Visit the Wags application page to begin the process.
  • Read more about the Wags Lending program.

Other Financing Options

7. Personal Loans

Personal loans can be used for many purposes, including pet purchases, supplies, vet bills, and other pet-related expenses. Lenders of personal loans don’t typically require proof of purchase, and they probably won’t ask you to account for your use of the money — they simply want borrowers to repay the loan. There are many sources of personal loans, including banks. The best place to start is often your own bank, as they may offer you better rates because you already have an established relationship and account history with them.

8. Credit Cards

When faced with unexpected expenses, many people reach for their credit cards. They are convenient and require no extra applications, assuming that you already have them and that your credit limit is high enough to cover the expenses. The current average credit card interest rate is about 14%, but on many consumer credit cards, or if you have bad credit, the APR can be much higher.

In Summary

A pet can be expensive, so remember to consider the cost of the initial purchase, as well as ongoing care costs and the possibility of costs related to emergency care. If you need help purchasing or caring for a pet, there are many options available to you, including credit cards, personal loans, and pet-specific loans. Take the time to consider the interest rates, fees, and other terms of the loan so you can be sure you are making the right financial choice.