Our pets are part of our families, and when a beloved pet becomes unwell or has an accident, being able to get them the medical attention that they need is essential. If you don’t have pet insurance to help cover unexpected veterinarian bills, or the cash saved up to cover the costs, there are loan options you might choose to consider.
Updated by Steve Stemp on 1/8/23
Credit card payments for vet bills
If the vet bill isn’t too large, you might consider using an existing credit card to pay for your pet’s medical treatment. If you repay this amount before the due date, you may be able to minimise the interest charged. If you are unlikely to be able to repay this amount in full, it might be better to consider other options.
If you don’t have a credit card, your credit card limit doesn’t cover the bill amount, or you don’t think you can repay the amount without accruing interest, you might consider a payday loan. These are generally easier to apply for, and allow loan amounts between $500 and $2000 that can be split over 1 or more repayment cycles. There is generally a 20% establishment fee and a monthly fee of 4% of the amount borrowed. Check the lenders terms and conditions to ensure that there are no extra charges to be aware of.
Suppose the vet bill is higher, or you would experience significant financial stress to afford repayments split over a shorter period, as with payday loans. In that case, you might consider a personal loan. You can select longer repayment periods and opt for unsecured or secured loans. Always check terms and conditions to ensure that you understand the charges and that you can afford repayments.
Borrowing from friends or family
If a friend or family member would be willing to help out and lend you the funds to pay the veterinarian expenses, this could be an option to consider. Ensure that both parties agree on repayment terms and stick to these. If you don’t feel comfortable asking, or loved ones aren’t able to offer the funds required, other lending option might be a more practical choice.
Speak to your vet about the possibility of a payment plan. Some veterinarians do offer these, but this may be a loan through a third party. Before making a decision assess the fees, and compare to other lenders to ensure that you are making an informed choice.
When a beloved pet is unwell, this can be a time when emotions are heightened. You may be worried about your pet or feeling financial strain. Understanding the options available to help ease the burden can make things easier and aid in making the right decision for you.