A new national survey from Snap Finance®, a fintech platform that says it drives retailer growth by expanding consumer access to financing, has found that credit-challenged consumers are increasingly using financing to complete major purchases and often make trade-offs when flexible payment options are not available or are poorly communicated.

The study is the latest installment in Snap Finance’s “Credit Gap” research series and the company’s second annual major purchase study. It surveyed 2,873 U.S. adults who had made a purchase of $300 or more in one of 14 key categories during the previous six months. The categories included furniture, mattresses, consumer electronics, auto service and repair, tires and wheels, appliances, jewelry, dental care, veterinary services, mobile phones, home repairs and home improvement.

The findings indicate that consumers with credit scores below 670 are more likely to depend on financing when making major purchases. Financing also appears to play a growing role in shopping decisions, with 60% of respondents saying they determine they need financing when they first begin to consider a purchase, up 7 percentage points from last year’s findings.

Among the key 2026 findings for consumers with credit scores below 670:

• 39% said they could not have paid for a recent major purchase without financing.
• 47% said financing availability was an important factor in choosing the business where they made their purchase.
• 38% delayed a purchase, and 28% bought a lower-quality item because of their financial situation or concerns about the economy.
• 39% of credit-challenged consumers who used lease-to-own or an installment loan spent more because financing was available; 53% of that group said they spent up to 20% more.
• 37% of credit-challenged consumers who did not recall learning about financing options said they would have considered financing had they known it was available.

Ted Saunders, CEO at Snap Finance, said major purchases are often not discretionary and may involve replacing broken items, paying for car repairs, or covering necessary services.

“Why the results show that major purchases are often not discretionary — consumers may be replacing items that broke, addressing car repairs, or paying for necessary services. And for those with lower credit scores, access to credit is often an issue,” Saunders said. “For retailers and service providers, introducing simple and accessible financing options early in the shopping journey can help customers move forward while creating meaningful opportunities for growth.”

The research also points to the importance of communicating financing options early and frequently, especially in categories where consumers may decide quickly and want to compare businesses on both price and payment flexibility. Only 46% of credit-challenged consumers overall recalled hearing about financing during the purchase process, most commonly through the business’s website, a store employee or social media. Yet 37% of those who did not recall hearing about financing said they would have considered it had they known it was available.

If financing had not been available, credit-challenged consumers who used lease-to-own or longer-term installment financing most often said they would have delayed the purchase until they saved enough money (21%), decided not to buy at all (19%), or switched to another business that offered financing (18%).

“Financing is becoming an increasingly important part of the shopping experience for credit-challenged consumers,” Saunders said. “The data suggests retailers should make financing simple to understand and easy to find, especially because many consumers are making decisions quickly and may need to know their options before they ever reach checkout.”

Across all respondents, most major purchases were completed in-store, and more than half of consumers in both credit groups said they made their purchase within two weeks of deciding they needed the product or service. For credit-challenged consumers, ease of purchase, total price, and speed of receiving the item or service were the top factors in choosing where to buy.

Snap Finance said the findings highlight how financing availability can shape purchasing behavior for consumers with limited access to traditional credit, particularly when businesses clearly communicate those options early in the buying process.