The Snap Finance Major Purchase Study: How people shop, pay, and make big-ticket decisions today
Major purchases rarely happen at convenient times, and when your budget is already stretched, they can feel overwhelming. Snap Finance’s Closing the Gap: Major Purchase Study reveals how people in different financial situations navigate these moments, from delaying purchases to choosing where to shop, comparing options, and figuring out how to pay for essential items. The findings show that many consumers feel financially uncertain, often make major purchases out of necessity, and rely on financing to bridge the gap. Whether your finances feel uncertain, you’re comparing in‑store options, or you’re interested in exploring financing, the study highlights that you’re not alone and that Snap Finance may help.
Key Takeaways
Many people feel financially uncertain right now, especially those with lower credit scores: If your budget feels unpredictable, many households are navigating the same challenges.
Major purchases often happen out of necessity, not preference: When something breaks or wears out, timing becomes secondary to urgency.
Preference often takes a back seat to affordability and availability: When money is tight, people may settle for an option other than the one they truly want.
Financing may help bridge the gap: Many consumers rely on lease‑to‑own or installment loans to make major purchases.
Snap Finance may help you move forward: If approved, lease-to-own financing or loan options through Snap Finance may help you get what you need today and make payments over time.
If you’ve ever had something break at the worst possible moment, such as a washer that quits, a mattress that’s finally too worn to ignore, or a car repair you didn’t see coming, you know how stressful major purchases can feel. They’re rarely planned. They’re rarely convenient. And when your budget is already stretched or traditional financing isn’t an option, figuring out how to pay may feel overwhelming.
Snap Finance’s new Closing the Credit Gap: Major Purchase Study takes a close look at how people navigate these moments. Snap Finance surveyed consumers with credit scores above and below 670 to understand how credit access impacts real‑life shopping decisions, from comparing options to figuring out how to pay for the things you need most.
If you’ve ever delayed a major purchase or service, settled for something different than what you wanted, or felt unsure about how to pay for something you truly needed, you’re not alone. This study shows just how common those experiences are and how you can move forward with confidence.
You’re not imagining it: Many consumers feel financially uncertain
Do your finances ever feel unpredictable? You’re in good company. Rising costs, limited savings, and credit challenges make everyday expenses stressful, and major purchases even more so. In our study, 41% of consumers with lower credit scores said their current financial situation feels unstable or very unstable, compared to just 12% of those with higher scores.
This is a reality for many households. And even when finances feel uncertain, people still need essential items and services. But if you have less‑than‑perfect credit, the way you shop and pay may look a little different.
Why major purchases don’t always happen when planned
Most people aren’t replacing a refrigerator or buying new tires because they feel like it. They’re doing it because they have to.
In our study, 38% of consumers with lower credit scores said they delayed a major purchase because of their financial situation or concerns about the economy, compared to 19% of those with higher scores.
Many of us have been there. You’ve ever waited until the last possible moment to replace something important. And when you finally do make the purchase, it’s often because you don’t have a choice, not because the timing is convenient.
At the same time, many consumers feel pressure to buy sooner than planned:
34% purchased earlier because they worried prices would continue to rise
32% purchased earlier due to a limited-time sale or promotion
This is the emotional reality behind many major purchases: you’re trying to balance urgency, timing, and accessibility all at once. And that’s hard, especially without payment options that fit your financial situation.
When money is tight, the shopping experience matters more
Many shoppers choose a store because the process feels simpler or the price is more aligned with their financial situation. When money is tight, efficiency and value matter. People want to get what they need quickly, without complicated processes or costly surprises. For consumers with lower credit scores, two factors rise above the rest when choosing where to shop: total price of the purchase and the ease of buying it.
Financing availability also plays a major role. Among consumers with lower credit scores, 47% said financing availability was an important factor in choosing where to buy, compared to 32% of those with higher scores. That means you’re not the only one who checks whether financing is offered before deciding where to shop. It’s a key part of the purchasing decision for many people who want to feel confident before committing.
Why “the right choice” often comes down to price and availability, not preference
When money is tight, people often choose what they can afford, not necessarily what they prefer.
The top factors when selecting a product or brand for those with lower credit scores include:
Whether the product is in stock
Whether the price is lower than other options
Previous experience with the brand
Whether the brand is well‑known
Whether a warranty or guarantee is included
And if you’ve ever settled for something different than what you really wanted based on your finances, you’re far from alone: 28% of consumers with lower credit scores said they purchased a lower‑quality item because of their financial situation or economic concerns, compared to just 13% of those with higher scores. If that’s your experience, keep in mind that there are many people like you who are making the best decisions they can with the resources they have.
Many people still prefer to shop in person for major purchases
Even with online shopping growing, many consumers still prefer to make major purchases in person. Among consumers with lower credit scores, 62% reported completing their recent major purchase in‑store, while 25% completed their purchase online.
Why? Because in‑store shopping often provides something online shopping may not: reassurance. When you’re spending more than you planned or trying to make the right choice on a tight budget, being able to see and touch the product, ask questions, compare options side by side, talk through payment options, or take your purchase home the same day may make the decision feel more manageable.
Big purchases can feel risky, and it’s normal to want that extra confidence before committing. That’s why so many people, especially those navigating tight budgets or credit challenges, still choose to shop in person. For major purchases, human help and hands‑on experience often matter more than convenience.
How financing may help people get what they need
For many consumers, financing isn’t just helpful. It’s essential.
Among those with lower credit scores:
44% rely on financing to make major purchases
63% say financing makes major purchases more affordable
If traditional financing isn’t available to you and you’d prefer not to pay for everything upfront, alternative financing options, such lease‑to‑own financing and installment loans, may help bridge the gap.
It’s also important to note that among consumers with lower credit scores:
31% are interested in lease‑to‑own financing to pay for major purchases
47% are interested in long‑term installment loans to do the same
Financing isn’t an afterthought for many shoppers; it’s part of the decision from the very beginning. In fact, 60% of credit-challenged consumers who used lease‑to‑own financing or installment loans said they decided they needed financing at the same moment they realized they needed the product or service.
But not everyone learns about financing in time. Among consumers with lower credit scores who didn’t recall hearing about financing during the sales process, 37% said they would have used financing if they had known it was available.
Many shoppers walk away from a purchase because they didn’t know financing was an option. If that’s happened to you, you may have had more choices than you realized. Asking about payment methods available to you may open doors you didn’t know were there and may help you understand your options.
Why lack of financing can stop a major purchase in its tracks
For many shoppers, financing is simply a convenient way to complete a major purchase. For others, it’s a necessity. Without financing, many people may have to delay, change, or abandon their plans entirely.
In our study, 39% of consumers with lower credit scores said they could not have paid for a major purchase without financing.
When financing isn’t available, consumers may:
Delay the purchase
Not make the purchase at all
Go to a different business that offers access to financing
Choose a lower‑priced or lower‑quality item
Use another payment method
Borrow money from friends or family
Try to get financing from a bank
Financing doesn’t just help people complete purchases; it may make some purchases feel more manageable – 39% of credit‑challenged consumers who used lease-to-own or installment loan financing said they spent more because financing was available, and 53% of that group spent up to 20% more.
How Snap Finance may help you move forward with confidence
Major purchases can feel overwhelming, especially if traditional financing isn’t an option for you. But with Snap Finance, you may not have to wait. You may not have to settle. And you don’t have to figure it out alone.
Whether you need furniture, appliances, electronics, tires and rims, or other essentials, Snap may be able to help you get what you need now and pay over time, even if you have less-than-perfect credit.1
Ready to take the next step?
With Snap Finance, you may be able to get what you need today and pay over time in a way that fits your lifestyle. Visit snapfinance.com to learn more and use the Store Locator to find participating retailers online or near you.
About the survey
Snap Finance’s proprietary research on credit-challenged consumers was conducted in March 2026 through Accelerant Research's Agora panel with 2,873 U.S. consumers who are household financial decision makers who have made a $300+ purchase in the prior six months across 14 product categories. Respondents’ answers were categorized by their self-identified credit scores above or below 670.
Snap Finance, its affiliates, and partners offer consumers a range of solutions, which may include lease-to-own financing, retail installment contracts, installment loans, and credit cards. Product availability may vary by state, merchant, industry, and qualification criteria. Certain products are issued by independent merchants or bank partners and serviced by Snap Finance LLC. For more information, visit https://snapfinance.com/legal/products
1Not all applicants are approved. No credit history is required. Snap obtains information from consumer reporting agencies in connection with your application; this does not impact your FICO® score, though other credit scores may be affected.