Financing a Washer & Dryer with Bad Credit

Consumers with bad credit now have more options when finding payment solutions* for washers and dryers. With this information, acquiring the appliances you need may be possible even with less-than-stellar credit history.

Below are some aspects of bad credit washer & dryer financing:

• What Exactly Is Bad Credit Washer & Dryer Financing?
• Does “No Credit Check” Mean the Same as “No Credit Needed”?
• Where is Washer & Dryer Financing for Bad Credit Available?
• Who Can Get Washer & Dryer Financing and How Do I Apply?
• FAQs About Bad Credit Washer & Dryer Financing

Going to the laundromat can be an inconvenience at times. In addition to taking up time, some vendors can charge over $5 a load. If you have a large family or need to do laundry often, you might be better served to work towards acquiring your own washer and dryer.

Being able to do laundry in the comfort of your own home can be convenient. If you are looking to purchase washers and dryers, consider alternative lenders. Alternative lenders may offer financing options* to help consumers access washer and dryer options, even with less-than-stellar credit.

Alternative lenders may advertise a variation of “no credit check” or “no credit needed” for those who may not be able to secure traditional bank loans due to bad credit.

Although these terms sound similar, below are the differences between “no credit check” and “no credit needed.”

• No Credit Check is when someone’s credit will not be pulled.
• No Credit Needed refers to the fact that your credit score may be checked, but there are other factors that are part of the approval requirements.

In general, most washers or dryers may be purchased with the help of outside financing. They can be purchased individually or as a pair, depending on a consumer’s individual needs.

Alternative lenders may offer consumers with bad credit or no credit history in some circumstances, the opportunity to apply for washers and dryers. In most cases, if approved, funding may be available as early as the next business day.

Leases & loans are quite different – here’s what you need to know:

• A loan (or personal loan) is generally a lump sum of funds provided on the recipient’s behalf that is paid back over time (and, like most loans, includes interest.)
• A lease (or lease-to-own option) allows the recipient to possess the leased item for a pre-determined period of time and includes the option to purchase the item outright. It does not include interest but has leasing fees.

Consumers have many options to choose from when it comes to washers and dryers.

**Please Note: Payment solutions vary based on the merchant and will be indicated at the beginning of the application process. Be sure to confirm that the merchant you select offers the lease, loan, or alternative payment solution you intend to apply for.
 

**Retail prices may vary based on extras and the type of appliance you purchase. For example, a simple dryer can have a retail price as low as $350, however, other models may have a retail price upwards of $2,000.

**Please Note: Payment solutions vary based on the merchant and will be indicated at the beginning of the application process. Be sure to confirm that the merchant you select offers the lease, loan, or alternative payment solution you intend to apply for.

**Retail prices may vary based on extras and the type of appliance you purchase. For example, a simple dryer can have a retail price as low as $350, however, other models may have a retail price upwards of $2,000.

A front-load washing machine is a type of washing machine that uses gravity to draw water and detergent from the bottom of the machine, over the clothes, and down into the drain.

Top-load washers can be a popular choice for some consumers because they can be relatively easy to use.

A dryer can be an essential household appliance for removing moisture from clothes, bedding, and textiles. There are several types of dryers to choose from:

• Gas dryers – For heating and drying clothes, they use gas. Gas generally is more energy-efficient and generally less costly to use.
• Electric dryers – Electricity is used to heat and dry your clothing. While they tend to be cheaper, they can possibly quickly rack up your electricity bill.
• Condenser dryers – The condenser dryer draws air from the unit, passes it through the condenser, gets warmed up, then channels the hot air to the drum to dry the clothes.
• Vented dryers – Moisture is removed from a vented tumble dryer by venting it from an exterior wall or by using a hose.
• Heat pump dryers – Heat pumps are used to remove moisture from clothes in these dryers. With its refrigerant system, hot and cold coils pull air from the surrounding environment, warm it, and release it to the clothes.

Alternative lenders typically partner with merchants who sell washers and dryers. In most cases, if approved, financing may be available to consumers as soon as the next business day.

Applying for financing on our website is easy and can be done through our merchant search tool* in just a few minutes.

**Please Note: Payment solutions vary based on the merchant and will be indicated at the beginning of the application process. Be sure to confirm that the merchant you select offers the lease, loan, or alternative payment solution you intend to apply for.

Years ago, washers and dryers were commonly purchased through in-store layaway programs. Sometimes, this took a year or more for customers to pay in full. Unlike with a loan, products held on layaway were not released to the customer until the purchase balance was satisfied.

While layaway may have prevented some credit and interest rate dilemmas, waiting periods were lengthy. In the past, you may have had to wait to replace necessary household items, especially if you had to pay for either the whole washer or dryer all upfront.

More recently, alternative lenders have helped provide a financing option* for consumers who have a less-than-perfect credit score, or for those who don’t have credit history.

The ability to replace a broken washer through the use of alternative payment solutions* instead of spending time and money at the laundromat has become another option if you have less than stellar credit or no credit.

**Please Note: Payment solutions vary based on the merchant and will be indicated at the beginning of the application process. Be sure to confirm that the merchant you select offers the lease, loan, or alternative payment solution you intend to apply for.

If your credit score is fair to low, traditional financing may be difficult to obtain. Traditional lenders may approve those with a higher credit score and decline borrowers with bad credit. But the good news is alternative lenders may be able to help, and options* are available in the market, whether you have bad credit or no credit at all (although approvals are not guaranteed).

Nowadays, having bad credit or spotty credit history may not exclude consumers from accessing financing options* for appliances. Today, options may be available whether you have bad credit or no credit, through alternative payment solutions.*

These lenders may offer financing options* that take more factors into consideration than just your credit score alone, making it a viable option for consumes facing credit challenges.

**Please Note: Payment solutions vary based on the merchant and will be indicated at the beginning of the application process. Be sure to confirm that the merchant you select offers the lease, loan, or alternative payment solution you intend to apply for.