A cat and dog purchased with a pet loan.

Alternatives To A Pet Loan

Thinking about taking out a pet loan? If so, we can definitely help you get a no obligation offer for a cash loan. You can then use that money to pay for vet bills or purchase a dog or car from any breeder that you like. For those of you who do not want to take on a loan, we may have an answer as well. Keep reading.

First, for those of you who would like to take out a loan to pay for your pet or pet expenses, let’s get you a no obligation offer. It takes just a few minutes. How much money do you expect to spend on your pet?

Cute pets from financing.

Pet Loan Alternatives

Now, let’s take a look at some alternatives to pet loans. These alternatives will depend on what you need your pet loan for.

Pet Loans To Purchase A Pet

If you need a loan to purchase a pet you have a number of interesting options.

Adopt A Pet

Your first and probably the best choice is to adopt an animal from a local shelter. With more and more people going back to work, shelters are once again filling up to capacity. You can adopt one of these animals and save a lot of money versus buying a pure bred pet from a breeder.

How much will it cost? Most shelters charge anywhere from $100 to $300, depending on the type of pet you want. Cats and older dogs, for example, are usually on the lower end of adoption fees. Puppies are usually higher in demand and go for a higher price.

The great thing about adopting is that you can probably afford to pay the adoption fee out of pocket. With a cost of less than 300 dollars, it should not be too much of a hardship. If it is, a pet is probably not a good idea for you at the moment. Another advantage to adopting is that spaying or neutering is usually included in the price. If the animal has not undergone the procedure, you will usually receive a voucher to have it done. This is a good thing because it helps control the pet population.

Rescue A Pet

But what if you do not want to adopt? Maybe you are set on a certain breed. If this is the case, you should consider working with an animal rescue. Nearly every breed of animal has a rescue that is devoted to caring for them. A simple internet search should reveal them.

As far as cost goes, a rescue is generally going to be a bit more expensive, but the money goes towards the cause of caring for animals. A rescue will get closer to 500 dollars as an adoption fee. Once again, this often comes with the requirement to spay or neuter your pet and the cost of the procedure is usually included in your adoption fee.

There are of course a few catches with rescuing an animal.

First, is the fact that you will be under the microscope. Rescues are much more careful about who they give their animals too. This means that you will be interviewed, they will check to make sure animals are allowed in your home and they may even do an in home visit.

In addition, puppies will be few and far between in rescue organizations. People generally do not abandon pure bred puppies, so it is the adults that usually end up in the system.

Save For A Pet

One last option is to simply save up money for a pet. The easiest way to do that is with an adjustment to your budget.

Figure out how much money you need and then divide it out by a reasonable time period. If you will need 2000 dollars and want to buy a pet in a year, you will need to save roughly 170 dollars a month. Take that amount and insert it into your budget and then find a way to balance it.

Next, make your savings foolproof by automating them. Set up automatic withdrawals to occur once a month and send the money to a savings account that you establish just to save for your pet. Before you know it, you will have the money to pay for your pet.

Pet Loans To Pay For Vet Bills

But what if you need money to pay for a vet bill? You have some alternatives to taking out a pet loan to cover your expenses.

Vet Clinic Financing

Many clinics offer financing and you may be able to qualify for it even with bad credit.

If you have good credit, traditional financing will be the way to go. Many credit services like Care Now can be used at vet clinics and they often have low APR terms. The catch is that the terms are for limited periods and the interest is still accruing. That means if you do not pay off the loan in time, the interest may be charged back to you.

For those with credit that is not so good, you will need to look for a vet that offers in house financing. Many vets are extremely devoted and may be willing to finance you as long as you pay a portion of the vet bill in advance.

Credit Cards

Plastic is always an option in an emergency. If you have available credit, problem solved.

If you do not have enough available credit, you have a couple options. The first is to call up your credit card issuer and ask for an increased credit limit. Getting an increase could be as simple as updating your income information or it may involve explaining why you need the money to a CSR.

Another option is to apply for a new credit card. If you have good to excellent credit, a card with a zero percent introductory period would be just the ticket. For the credit challenged however, you may have to go with an alternative lender such as Credit One to get approved.

Posted by
James Car

James Car is a finance, loan and budget expert based in the United States. After attending Brookhaven college, he went on to become a successful entrepreneur. He now enjoys writing articles that help people save and make the most of their money.