Thinking about financing a puppy? You are not alone and we would be happy to assist you get your puppy financing offer. Having said that, there are some things that you need to know about puppy financing that will help you get the best deal and avoid getting taken. Take a look at some tips and tricks to get you on the right path to pet ownership.
Know Your Credit
Before attempting to get any loan, you should check your credit and puppy financing is certainly no exception. This is going to be an unsecured loan which means that interest rates may be high, especially if you have less than perfect credit.
Before you apply for credit, pull your credit report and look for any errors or opportunities. Do this at least 45 days before you plan to apply to give you time to fix any problems.
So what should you look for? Obviously, you should look for errors on the report. if you find any, report them to the credit bureaus. They will have 30 days to investigate and correct errors.
Next, look for opportunities. For example, if your credit is just a few points from excellent, how could you get those extra points. It might be something as simple as making an extra payment on a credit card or waiting a few days for an old inquiry to drop off.
Know Your Options
When people think about puppy financing, they usually think about the pet shop. Yes, you can likely get financing at a pet shop, but it comes with a lot of problems.
The biggest problem is the lack of selection. Pet shops only carry so many breeds and if you are looking for something specific that isn’t trendy, you might be out of luck. What these stores like to carry these days is designer pets. These are combinations of 2 or more breeds. They are essentially mixed breed puppies but they sell for a premium price.
Another problem with pet shops is the ethical issue. Many buy their animals from mills and they are weened too soon. Nobody could argue that one of the worst places that a newly weened puppy could live would be a cage in a pet store. You might think you want to rescue one of these puppies, but it would just be replaced by another one.
These days you have more options, mainly online. We can help you get an offer from a lender who will make you a cash offer. That will allow you to buy your puppy from any breeder.
Watch Out For Leases
Leasing a puppy sounds crazy but it happens, usually by accident. You pick out a pet and learn that a pet store offers financing, so you jump on it. What you do not know is that you don’t now own your pet, you are simply leasing it. The finance company owns it.
So, what happens at the end of the lease? Well, if you want to keep your pet, and you likely will, you will have to pay a bumper payment and buy your lease out.
Leases, although illegal in some states, are still around. Be careful and thoroughly read any finance agreement before you sign.
Educate Yourself On Your Breed
If you have a breed in mind, you should educate yourself about them as much as possible. This has a number of benefits.
First, it will help you understand how much you should expect to pay. Breeders prices can vary but if you understand the going rate, you can be assured that you are not paying too much. To educate yourself on price, check listings on puppy breeder classifieds for several months before you intend to buy.
Another benefit to knowing your breed is to make sure that it is the right one for you. Puppy financing is expensive, so you would hate to end up with an animal that does not suit you or your lifestyle.
Watch Out For Scams
Last, but not least, watch out for con artists looking to take advantage of you. One common scam is $500 French Bulldogs. These dogs sell for $4000 dollars on average and con artists list them for super low prices hoping to fool you.
It doesn’t stop at French Bulldogs though, there is a scam for nearly every dog breed out there. If a deal sounds too good to be true, it probably is. Don’t loose your puppy financing money on a scam.