A broken refrigerator or washer can throw your whole routine – and budget – off track. Navigate unexpected appliance failures with ease.

• Understand your immediate options – savings, credit cards, or appliance financing.
• Snap’s lease-to-own model helps you shop for appliances and pay later.
• Get practical tips to prevent future breakdowns and find deals at the right time.

Appliances like refrigerators, washers, and ovens are essential parts of your everyday life, quietly doing their jobs until they suddenly don’t. When your refrigerator stops cooling or your washer floods your laundry room, the immediate stress isn’t just about inconvenience and cleanup – it's also about the sudden, unplanned financial hit. Appliances aren't cheap; a new one could set you back about $2,175, according to HomeAdvisor.

So, what do you do when your home appliance suddenly fails, and you're facing an unexpected expense and feeling some sticker shock?

Your immediate options

When faced with an appliance breakdown, your first instinct might be to dip into your savings, reach for your credit card, or even consider a high-interest personal loan. While these emergency appliance funding options might seem like quick fixes, they can lead to financial stress down the line.

• Savings: While ideal, this isn’t always feasible, especially for big-ticket items like washers or refrigerators (which average around $1,500).
• Credit cards: High interest rates mean you could pay much more than the initial cost over time.
• Personal loans: May carry high interest rates, lengthy approvals, or hidden fees.

But there's another solution, appliance financing, that could save you money and hassle, even if you have less-than-perfect credit.

Appliance financing

Snap Finance offers a lease-to-own solution for unexpected appliance replacements, helping you avoid large upfront costs. With Snap, you can pay over time for most appliances.

• Refrigerators
• Washers and dryers
• Ovens and ranges
• Dishwashers
• Freezers

Snap Finance’s approach is straightforward and consumer-friendly. To illustrate, let's suppose you have a broken fridge and need to finance a new refrigerator.

1. Snap buys the refrigerator upfront and leases it to you.
2. You use your new refrigerator while you make payments (typically 12 to 18 months, but you can choose to buy out your lease early).¹
3. Once you’ve completed the terms of your lease, the refrigerator is yours.

With Snap’s convenient lease-to-own solution, you can start enjoying your new refrigerator immediately without the stress of paying the full cost upfront.

No credit needed²

In addition, if you have a lower credit score or no credit history, approval is possible because Snap considers more than just scores from major credit bureaus, reviewing multiple data points to determine your creditworthiness.²

Pay over time

Snap’s approval amounts range from $300 to $5,000 in lease-to-own financing. So when you go shopping, you’ll know your approval amount upfront, making it easier to choose the right appliance for you. 

Learn more about how Snap Finance works here.

Lease-to-own financing vs. credit cards

If you're wondering whether lease-to-own financing through Snap Finance is better than using a credit card, consider these points.

• Repayment: Credit cards frequently come with high, fluctuating interest rates, which can significantly increase your overall repayment amount. Snap aligns payment schedules with your paydays, ensuring a convenient, worry-free experience.
• No cancellation or late fees: Credit cards often include hidden fees or penalties that can inflate your costs unexpectedly. Snap doesn't charge cancellation fees or late fees. Snap fees are outlined in the lease agreement.
• Fast decisions: Applying for a credit card online typically takes a few minutes, and you might receive an instant approval or denial. However, if further review is needed, it can take several business days – sometimes up to 7-10 – to finalize the decision, plus additional time for the physical card to arrive. Snap is quick and easy: You can apply online or in-store in just a few minutes and get an immediate decision, ensuring you have access to your lease-to-own appliances right when you need them – not days later.
• No credit impact to your FICO® score to apply Simply applying for Snap won’t impact your FICO credit score, unlike certain credit applications.

Budgeting and maintenance tips: Minimize future emergencies

While you can't predict appliance breakdowns entirely, you can minimize their frequency and financial impact.

• Regular maintenance: Major appliances typically last between five and 15 years, depending on the type and how well they're maintained. Simple preventive steps, like cleaning refrigerator coils to remove dust or regularly inspecting washer hoses for leaks or wear, can extend appliance life and prevent costly repairs.
• Extended warranties: Some brands offer extended warranty options. Investing in an extended warranty can protect you from future financial shocks by covering repairs and replacements.
• Price matching: Ask retailers if they’ll match competitor pricing, especially during sales events or if you find a lower price elsewhere. Some stores may honor the lower price on the spot, helping you save without compromising on quality or brand.
• Energy Star appliances: Choosing Energy Star-certified appliances can lower energy bills and sometimes qualify for rebates or tax incentives, providing additional savings over time. The Energy Star label means the appliance meets standards set by the U.S. Environmental Protection Agency (EPA). These standards were created to reduce energy consumption and greenhouse gas emissions.
• Planning for sales: Time your purchases around major sales events to maximize your savings.

o   Back-to-school season is a great time to find discounts on compact appliances for dorms and small apartments

o   Black Friday and Cyber Monday offer deep savings across all appliance categories, from refrigerators to toasters.

o   From September to December, retailers discount previous-year models to make room for new inventory.

o   Holidays such as Presidents Day, Memorial Day, Independence Day, and Labor Day are generally when retailers hold big sales.

Stay ahead of upcoming appliance sales and promotions by subscribing to retailer newsletters or setting up email alerts. You can also visit retailer and manufacturer websites regularly to spot current deals and limited-time offers.

By proactively budgeting and planning your appliance replacements, you can reduce your need for emergency financing. However, when emergencies do happen, knowing that Snap Finance is available offers peace of mind.

Find a store

Snap partners with thousands of retailers nationwide to ensure you'll find what you need online or at a store near you, so you can get your lease-to-own appliance quickly and easily. Use Snap’s Store Locator to identify nearby appliance retailers offering access to Snap’s lease-to-own financing.

Next steps

Life happens. Big expenses tend to show up when you least expect – or can afford – them. With Snap Finance, you have access to fast, straightforward appliance financing, even with bad credit.² Don’t let an appliance emergency disrupt your daily life or your financial health.

Ready to get back to normal? Apply online or find a local Snap partner today and keep your home running smoothly:

The advertised service is a lease-to-own agreement provided by Snap RTO LLC. Lease-to-own financing is not available to residents of Minnesota, New Jersey, and Wisconsin.

¹The default payment plan is the Maximum-Term Plan, which includes 12- to 18-month renewable terms and is your highest cost option. To exercise an early ownership option, including the 100-Day Option, customers must make all regular payments on time and ensure the required amount is paid within the applicable timeframe via the customer portal or by contacting Customer Care at 1-877-557-3769. The 100-Day Option may include a cost of lease above the merchandise price.

²Not all applicants are approved. While no credit history is required, Snap obtains information from consumer reporting agencies in connection with applications, and your score with those agencies may be affected.