Closing the credit gap:

Key insights from new Snap Finance research

Among consumers with credit scores below 670:

39%

could not have paid for a major purchase or service without financing

63%

say financing makes major purchases more affordable

41%

described their current financial situation as unstable or very unstable

Takeaways for your business

Financing unlocks spending power

Major purchases are not always optional. When shoppers can’t pay upfront and don’t qualify for traditional financing, lease-to-own financing and installment loans can bridge the credit gap.

39% spent more because financing was available, among those with lower credit scores who used lease-to-own or an installment loan.

A person smiles while looking at a smartphone, standing in front of stacked tires. A circular graphic shows 39%.

Access to credit shapes purchasing behaviors

Securing financing is an important part of the shopping experience. Those with low or subprime credit often face limited financing options. Snap Finance can help.

44% of consumers with lower credit scores rely on financing to make major purchases

A woman using her smartphone in a furniture store next to a sign offering approvals up to $5,000. A blue graphic shows 44%.

Economic concerns impact big-ticket decisions

Consumers with lower credit scores often delay major purchases and services and settle for lower quality items due to the economy – but sales and promotions can motivate them to buy sooner.

38% of consumers with lower credit scores delayed a major purchase or service due to their finances or economic concerns.

Woman in a denim jacket smiling and using a smartphone with a 38% progress circle overlay on the left.

Disclosures

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.

Findings based on Snap Finance proprietary research conducted through Accelerant Research’s Agora panel in March 2026 with 2,873 U.S. consumers who are household are 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.

¹Not all applicants are approved. Approvals subject to underwriting qualification criteria.

²Merchant Pulse Study. Snap Finance, 2023.