Appliance Financing

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Appliance Financing With Acorn Finance

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Appliance Financing Made Easy

Acorn Finance gives you control when shopping for low rates on a loan to buy new appliances. Compare personalized offers from lenders in our network, with no impact to your credit score. That means multiple loan offers for your new appliances in seconds.

We’ll even help you check for pre-qualified appliance financing in seconds with our broad network of national lending partners. You can easily sort the offers based on what’s most important to you: interest rate, payment amount, length of the loan term.

Our 100% online, customer-friendly process is designed to help you find affordable payment options with lenders that can quickly finance your new appliances.

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How We're Different

Get Offers in Seconds

Get pre-qualified for multiple loan offers with an easy online form.

Won't Impact Your Credit

Receive pre-qualified offers with no impact to your credit scores.

Competitive Payment Options

Loans up to $100,000; Terms up to 12 years; APRs as low as 3.99%.

Receive Funds Quickly

In some cases, receive funds in as little as one business day.

“The process couldn’t have been any easier. I filled out a short form that took me less than 2 minutes and within seconds I got multiple offers from lenders.”


– Mike T. (TN)

“It was important to me that I could review my offers without any impact to my credit score, before deciding on the best loan option.”


– Carol R (FL)

“I like the easy online and 100% paperless experience of Acorn Finance. I received my money two days after completing my application.”


– Bob S (WI)

Ready To See The Best Appliance Financing Deals?

Compare appliance financing & loan offers without affecting your credit score.


Washer & Dryer Financing & More

Although renting an apartment, condo, or house can have its drawbacks, one benefit renters enjoy is that their landlords are generally responsible for furnishing, repairing, and replacing the property’s major appliances. Homeowners, on the other hand, don’t have it that easy. If a dishwasher, refrigerator, or washing machine goes on the fritz, homeowners are on the hook to resolve the problem, whether that means hiring a repair technician or purchasing a brand-new appliance.

It’s no secret that modern appliances can be expensive, especially if you want all of the latest bells and whistles. And for homeowners on a budget, the cost of a new appliance can be quite prohibitive. Fortunately, however, appliance financing makes it easy to purchase new amenities for your home even if times are tight. But exactly what is appliance financing, and this kind of arrangement a good deal for homeowners?

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What Is Appliance Financing?

An appliance loan — also referred to as appliance financing — is a financial arrangement in which a homeowner purchases a refrigerator, dishwasher, or similar appliance by paying for it over time, instead of all at once.

Can You Finance New Appliances?

Many of America’s most popular big-box stores and home furnishing retailers offer financing options for qualified customers. If approved for financing, homeowners generally have their pick of appliances, including new and older models.

Does Financing New Appliances Hurt Your Credit?

In most cases, choosing to finance a new appliance will affect your credit score. However, that’s not to say it will necessarily damage it. In fact, financing new appliances can actually help you build (or rebuild) your credit — but only if you make your monthly payments on time. But there’s more to the story.

Regardless of all other factors, if the retailer you’re purchasing an appliance from requires a credit check to approve you for financing, your credit score will automatically drop a few points for at least a few months. Likewise, establishing a new financing plan of any type lowers the average age of your credit accounts, which can also ding your score. In order to avoid damaging your credit score, look for retailers that offer appliance financing with no credit check required.

How Much Do New Appliances Usually Cost?

The cost of new appliances can range from a few hundred to several thousand dollars based on the type of appliance, how recently it was manufactured, and which features it offers. In general, refrigerators are the most expensive home appliance while clothes dryers are the least expensive.

When to Consider Purchasing New Appliances Vs Repairing Issues

If one of your current appliances isn’t working as well as it once did, it’s likely time to start weighing your options regarding whether to repair or replace it. If the cost to repair the issue exceeds 50% of the appliance’s value, replacing the machine likely a smarter move.

How Much Does It Cost to Repair Appliances?

Mechanical and electrical issues are common when it comes to appliances, and many such problems can be repaired for $150 to $300. If a repair technician quotes a significantly higher rate, you might be better off replacing the appliance.

When Should You Replace Your Appliances?

Perhaps the best time to replace your appliances is during holiday sales such as those that occur on Memorial Day, Independence Day, Labor Day, Veterans Day, and Black Friday. And another great time to buy is when new models arrive on showroom floors and the previous year’s products are discounted.

What Is the Average Interest Rate on In-store Appliance Financing?

Several retailers offer 0% financing on appliances if the item is fully paid off in a specified span of time, commonly 18 or 24 months. If a customer is unable to completely pay for the appliance in that amount of time, they can expect to pay interest rates ranging from 8% to nearly 30%, with an average rate of approximately 22%. And, in general, if you’re looking to buy appliances on finance with bad credit, you can expect to pay a higher interest rate than individuals with immaculate credit records.

Pros and Cons of Appliance Financing

Here’s a quick comparison of some pros and cons associated with appliance financing.


  • Appliance financing allows you to purchase a new machine without paying for it all at once.
  • Appliance financing can help you improve your credit if you make payments on time.
  • Retailers that offer 0% interest rates let you pay over time without necessarily paying more.


  • Applying for appliance financing will lower your credit score — even if you’re not approved.
  • Interest rates can be extremely high, especially if you miss a payment.
  • Financing your appliances means you’ll have an additional bill to pay each month.

Secure Appliance Financing Today with Acorn Finance

Now that you have a better understanding of how to finance appliances, start shopping around for the retailer that will offer you the best appliance financing deals on the machines of your dreams.

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Appliance Financing FAQs

See some of the most commonly asked questions about securing appliance financing.

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Should I finance appliances?

Most likely you either have no option but to finance appliances or you could finance or pay cash for appliances. Regardless of your situation it can make sense to finance appliances, especially if you can qualify for a 0% promotional offer or low interest personal loan. Financing may increase your budget, thus allowing you to purchase higher quality and longer lasting appliances. Perhaps you may even want to add an extended warranty. If you are paying cash, purchasing an extended warranty may not be in the budget. However, if you are financing, an extended warranty may equate to a small amount of money each month. While financing may come along with additional costs, for most of us an affordable monthly payment is more convenient than spending a lump sum of cash. Most loans do not have an early payoff penalty so if you can afford more than the minimum monthly payment you can pay more toward your balance. Paying the loan off early can help you save money on interest. In addition, if you are trying to establish credit you may want to finance appliances and pay them off early or on time. This is a great way to help establish credit history and boost your credit score.

Is it better to pay upfront or monthly for appliances?

While it’s usually cheaper to pay upfront for appliances, the answer to this question usually depends on your finances. If paying up front means draining your emergency savings fund, it may be smarter to use financing. It’s a good idea to keep some cash available for real emergencies or times when financing is not available. Alternatively, if you are being offered a promotional 0% appliance financing offer it’s essentially free to use financing and take advantage of affordable monthly payments. However, if you use promotional financing and miss a payment or fail to repay the loan balance within the promotional period you may incur high fees.

Does financing appliances hurt your credit?

Applying or financing appliances may temporarily reduce your credit score, but not for long. Once you start making on time payments you should see your credit score go back up. On time payment history paired with decreasing loan balances can improve your credit rating overtime. This means that in the long term, appliance financing may actually improve your credit. If you are unsure if you qualify for appliance financing or uncertain you want to use it, but want to apply without affecting your credit score, visit Acorn Finance. Acorn Finance allows individuals to submit one application for appliance financing and receive multiple personalized loan offers without affecting credit score. Just about anyone can use Acorn Finance and it’s completely free and secure. Acorn Finance has lending partners that can help good and bad credit borrowers secure appliance financing.

What is a good month to buy appliances?

Trends show that holidays and holiday weekends are some of the most popular times to purchase appliances – perhaps because of the sales and advertising. Most of us have some downtime during holidays as well that allows us to invest some time into finding the best deals. Shopping holidays such as Black Friday and Cyber Monday can be good times to buy appliances as well. You may also find heavily discounted prices after Christmas or other major holidays. Another idea is to find appliance stores or retailers that may be going out of business. This may be more difficult in terms of timing than regular sales. While timing is important for getting an out of this world deal, it’s not everything. Consumers should buy on their own terms, compare prices, and have funds or financing ready to go. If your appliance or appliances are close to needing replacement it’s a good idea to start shopping before they are not functioning and need replacement.

Most appliance retailers offer sales for three-day weekend holidays such as Presidents Day, Memorial Day, Fourth of July, New Year’s, Labor Day, and Veterans Day.

Where can I get the best deal on appliances?

Large national retailers and small retailers can both offer competitive deals on appliances. You may want to browse local options and check reviews to find the best appliance retailers in your areas. Some retailers that are highly recommended for offering insane deals are Home Depot, Lowe’s, Costco, Best Buy, and even Amazon. While you may be able to browse selections online for these retailers, they may offer different deals in store. Best Buy is well known for its promotional 0% financing offers. Home Depot and Lowe’s can offer a 10% military discount for most appliances even if they are on sale. You may also want to factor in retailers delivery and warranty coverage into your price comparisons. You may find a retailer with awesome deals but no delivery option. If you do not have the means to pick up, load, and unload the appliances on your own, you may want to use a retailer that offers delivery. In addition, some retailers may offer extended warranty coverage. Some retailers may have non-advertised open box discounted items. You should ask a representative if they have any “out-of-box” appliances at discounted prices.

What is the best store to buy appliances?

The best store to buy appliances can vary depending on your location. If you do not have a preferred retailer, we recommend using the internet to compare stores nearby. You should be able to get an idea of their selection and customer reviews based on their websites and online reviews. In a 2020 article, USA Today named the 7 best places to buy large appliances online. This list included Appliances Connection, Abt, AJ Madison, Best Buy, The Home Depot, Lowe’s, and Amazon. You can shop online with these retailers and have appliances delivered right to your door. You can use your personal loan appliance financing for in store or online purchases from any retailer.

Is it better to buy appliances in a bundle?

Purchasing appliances in a bundle may help you save money. However, be sure to pay attention to the appliances included in the bundle. It’s easy to get caught up in the savings and let your attention drift away from the actual appliances. While we may be drawn to the cheapest refrigerator or washer and dryer, it may not be the best investment. You want to shop for value when you purchase appliances. In addition, if you do not need all the appliances in the bundle, it may actually cost you money. For those of you that may be new to bundling, it’s becoming more popular. Some retailers allow consumers to bundle goods or services. In exchange for spending more money, retailers may offer customers a bundle discount. For example, leading appliance manufacturer Bosch offers bundle discounts that can exceed $1,000. If you are starting from scratch and need all new appliances, bundling can help you save big time.

How can I finance appliances?

There are a few ways you can appliance finances including a personal loan, credit card, or promotional financing offered by a retailer. If you can pay the balance off within 30 days, a credit card may be a reasonable option. However, if you need a longer amount of time to pay off the balance you should consider other options. Personal loans offer flexible terms and are fairly quick and easy to secure. Some retailers may offer promotional financing but you may need very good credit to qualify.