Power tools in use on a project.

Bad Credit Tool Finance

If you have been shopping for tools for your hobby or your job, you know that they are very expensive, for good stuff at least. Because if this, many people turn to financing to help cover the cost. If you have bad credit however, this can be a challenge. We can help you get a loan offer though, even with bad credit. Get started now so that you can start shopping.

An Offer In Minutes

Whether you need hand tools, power tools or even heavy shop equipment, we can help you get an offer for the money that you need. We can give you access to a lender that can work with bad credit so that you can get to work. Ready to get your offer? Have it in minutes with just some basic information.


Infographic on the tool financing with bad credit loan process.

Quick Links: Fast Loan OfferHow To Pay For ToolsOther Options

Paying For Tools

Good tools can cost thousands of dollars and most people do not have this kind of money just lying around. If that is your situation, we can help you get an offer even if you have bad credit. Why settle for cheap junk tools when you can get a loan to pay for quality stuff. Tools that work better and last forever.

If you are ready to get an offer, first take a minute to see how it all works so that there are no surprises.

First and foremost, you should know that Loan Monkey is not a direct lender and that is a very good thing. Single lenders have one set of requirements and they are often tough to meet. Instead, we give you access to a huge lending network. More lenders means more sets of qualifications and more chances of getting an offer. If you are shopping with bad credit, it can help you get an offer sooner if you are shopping for a 1000 dollar loan or even a 10000 dollar loan.

If you get an offer, there is another benefit of working with a loan network. They will pay you with cash, deposited directly into your checking account. This gives you a lot of options that store credit can not. It allows you to shop at any store or with any vendor that you like for your tools. It also allows you to look into the used market if you want to save a little money or buy more powerful power tools for the same money.

Now that you can see all of the advantages to buying your tools with an installment loan, how does it all work? How do you get a bad credit tool financing quote? It could not be easier to get your offer, this is what you need to do.

  • First, check out the quote form at the top of this page. It will walk you through the process step by step. All that you will have to do is answer some very basic questions. State how much money that you need first, anywhere from 500 dollars to 50,000 dollars. Then enter information about yourself and how you make money. It should take just a couple of minutes to complete.
  • Next, you submit your form and wait for your offer. Do not worry, you will not be waiting long. Once you receive your offer, you will typically be forwarded to that lenders website so that you can review the offer. Take the time to review it thoroughly.
  • Finally, you decide if you want to accept your tool loan. If you do, you could have money in your checking account as soon as the next day. If you did not like the offer, just turn it down, no big deal.
  • Once you have your money, all that is left to do is shop for your tools and you get to do so as a cash buyer. Buy where you want or from whoever you want without being limited to one store.

Super easy right? If tool financing with bad credit is what you need, why not get started now. There is no obligation and it is fast and free.

Other Ways To Get Tools

A monthly loan is an easy and fast option to get tools, but it might not be the only one. Take a look at some other choices that you might have before you commit to a loan and the fees that come along with it.

Borrow Tools

One possible option is to simply borrow a tool or tools from friends and family. This might be a good option if you need a tool for a project and not for work. If you need it for professional use, it might not be a good idea to borrow a tool long term from someone, especially with the wear and tear that commercial use can bring tools.

If you go with the borrowing route, be sure to take good care of the tool or tools. You would hate to have something break and then have to replace it. You when then wind up buying a tool anyway but not have it int he end.

In addition, be sure to examine the tool thoroughly before you accept it. Make sure that it is in good shape and not damaged in any way before you accept possession. This is very important in the case of power tools.

Rent Tools

This is another great option if you only need a tool for short term. If you have a project and need a tool for a day or a weekend, you can often get out much cheaper by simply renting it. If you need something for a longer period like a week or even longer, the cost savings from renting become less significant.

If you go the rental route, be sure to compare the cost of the rental versus the cost of owning the tool outright. Also consider the total cost if you were to simply buy it and then sell it. This could wind up being cheaper than a rental.

Buy A Used or Discount Tool

One last option is to buy a used or discount tool.

If I had a choice, it would be the used route over new discount tools. Cheap tools typically break quickly and can sometimes even be dangerous. It may be better to buy a quality tool that has been used responsibly.

If you go this route, you have a lot of places to look for second hand tools. Craigslist and just about any pawn shop should be good sources.

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