Personal loans for major purchases
Appliances, furniture and other large purchases can take a substantial part of a household budget. Compare paying from savings, waiting until you have saved more, vendor payment plans and a personal loan using the total cost of each option.
What to expect when financing a major purchase
- Start with the full purchase price, including delivery, installation and any required accessories. Compare quotes for the same item before choosing how much to finance.
- Savings or postponing a purchase can avoid borrowing costs. If a vendor offers a payment plan, check fees, promotional deadlines and whether deferred interest applies.
- Compare total cost across APR, fees and term rather than choosing on monthly payment alone. Consider whether you would still be repaying after the item needs replacing.
- For major purchases, each lender sets its own APR, fees and terms. Review the loan agreement separately from the seller's return policy and warranty.
Estimate your personal loan payment
Enter a loan amount, a term and an APR to see an illustrative fixed monthly payment and total interest.
Estimates only, based on the numbers you enter. Not an offer of credit. Lendara is not a lender.
How checking your options works
When you check your options for a personal loan for a major purchase through Lendara, you answer a few questions about the loan you want, your income and your finances.
If participating lenders have options for you, you can compare them side by side: APR, fees, monthly payment, term and total cost. Nothing is accepted until you choose an offer.
If you decide to apply, the lender reviews your application, may check your credit, and decides whether to approve you and on what terms. Lendara doesn't make that decision.
Frequently asked questions
How does a personal loan compare with a store payment plan for a major purchase?
Compare the total amount due, payment dates, fees and any interest charged if promotional conditions are not met. A store plan and a personal loan can have different repayment terms even for the same purchase price.
Does returning a financed purchase cancel the personal loan?
A return to the seller does not automatically cancel a separate personal loan. Check the seller's refund terms and the lender's repayment rules, including any fees, before deciding how to use a refund.
Is Lendara a lender?
No. Lendara is a free marketplace that connects you with participating lenders. We don't make credit decisions or lend money.
Related guides
- Personal Loan vs. Credit Card: Which Costs Less to Carry a Balance
How carrying a balance on a credit card compares with borrowing the same amount through a personal loan: interest, fees, payoff timing and what to check before you choose.
- How to Compare the Total Cost of a Loan (Not Just the Monthly Payment)
Why the lowest monthly payment isn't always the least expensive loan, and a step-by-step way to compare offers by APR, fees, term and the total you'll repay.
- Loan Origination Fees, Explained
What loan origination fees are, how they factor into APR, and a simple illustrative example that can help you compare the true loan cost.
Lendara is not a lender and does not make credit decisions. Lendara is a free online marketplace that connects you with participating lenders, who set their own eligibility rules, rates, fees and terms. Lendara may receive compensation from partners, which may affect which offers appear and their order.