How to Finance a Purchase

Paying with cash is not always possible, particularly when you don't get the time to save for an unexpected expense. That doesn't mean you don't have good options to work with.

Although paying with cash is usually the best option, it’s not always feasible. Even when you do have the money to pay in full, you may want or need to finance a purchase without wiping your savings account.

SuperMoney’s financial guides and tools will help you make the best choices for your circumstances.

Find the right lender for your financial goalFind the right lender

The purpose of your loan matters. The default rate of loans varies widely depending on what the money is used for, and so should their rates. Niche lenders often have a deeper understanding of their sector and can offer better rates and terms. Whether you’re looking for a private student loan, an auto loan, a boat loan, a medical loan, a wedding loan, or a vacation loan, make sure you check the deals offered by specialized lenders before you default to your current bank or credit union.

Compare the rates and terms without damaging your credit

Compare rates and terms

It’s smart to rate shop before you make a purchase, but not at the expense of dinging your credit. SuperMoney’s loan offer engine allows you to see what rates and terms you qualify for without a hard pull on your credit. Hard inquiries on your credit score can impact your credit score. Soft inquiries, on the other hand, don’t. Our lenders give you a firm rate without hurting your chances of qualifying for another loan in the future.

Consider credit cards

Credit cards

Although not an option for real emergencies — credit cards can take three to ten days to arrive in your mail — they are hard to beat if you can qualify for a 0% APR. Some cards offer introductory rates on balance transfers and new purchases. SuperMoney’s credit card tool helps you filter which card makes sense for you.

Finance a purchase with bad credit

If at all possible, it’s best to work on improving your credit score before asking for a loan or line of credit. But you can’t schedule unexpected expenses and emergencies. Even in such cases, there are options available. SuperMoney’s loan comparison tool offers a transparent look at the rates and fees charged by lenders that accept borrowers with bad credit. Whether you are looking into a payday loan, a tribal loan, an auto title loan, or a personal loan that considers applicants with less than a perfect credit report, check out what rates and terms you can expect before you apply.