Appliance Financing

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Appliance Financing With Acorn Finance

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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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Finance New Appliances With Acorn Finance

Check For Offers in Seconds

Get pre-qualified today with an easy online pre-qualification application

Won't Impact Your Credit

Customers receive pre-qualified offers without any impact to their credit score

Competitive Payment Options

Loans up to $100,000; Terms up to 12 years; APRs as low as 4.99%

Receive Funds Quickly

In some cases, you can receive your 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)

Secure Appliance Financing?

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

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Financing For Washer & Dryer and Other Appliances

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.


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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