Snap Finance Review: Financing For People With No or Bad Credit
Snap Finance provides lease-to-purchase financing. You can buy goods ranging from computers to furniture to tires. Your purchase is considered a lease, but you get to take the item home immediately. At the end of the lease term, you’ll own your item outright.
PROS
Quick online application
No collateral
Bad credit borrowers are approved
Same-day decision and approval
Choose your own local retailer
100-day payment option to pay off your balance faster
Payments auto-debit from your checking account (which can help avoid late fees)
Requirements to Qualify For Financing:
- Be at least 18 or older
- Have an active checking account
- Have a steady source of income
- Have a valid email address or cell phone
How Does SnapFinance Work?
Snap Finance Stores makes it easy to apply for and receive financing online. Just make sure you meet the minimum requirements before moving forward with these 3 steps.
Step 1: Apply Online
The application is online. It just takes a few minutes to fill out the form and you’ll submit your personal information along with your social security number and driver’s license number.
Snap Finance can approve your application in just minutes.
Step 2: Choose a Retailer
Once you get approved, you can choose your store and start looking for items up to $5,000, depending on your approved credit limit. SnapFinance partners with retailers all over the country so you can shop locally and use your approval to lease your items. There’s a store locator feature on their site so you can easily find your nearest retail partner option.
Step 3: Check Out
SnapFinance will send you an email with the amount you are approved to lease once your application is approved. All you need to do is show it to your cashier to proceed with the transaction. Your payments will be automatically deducted from your checking account.