Can a personal loan cover the cost of a vet bill?

by lamar_jakubowski , in category: Personal Loans , 3 years ago

My wife's dog needs surgery and we have been putting it off. Poor thing. We were only given 3 options really, put her down, get the surgery, or just wait things out. We have been forced into waiting it out and she has trouble getting around. Would we be able to get a personal loan to cover the cost of a vet bill? The surgery is estimated to be $2,800.

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5 answers


by mattie , 3 years ago

A personal loan can be used however you like. There aren't any restrictions at all, what you buy is 'personal'.

Do be aware of the high interest rates though. You don't normally pledge any collateral so the rates can be much higher.


by natalie , 3 years ago

That is the biggest issue with personal loans. Since there is no contractual obligation on how or where you spend the money, the interest rates will be MUCH higher. I have taken out one for something in the past and I ended up paying 30% of it in interest.

by hardy_langosh , 3 years ago

Yes they can, I have gotten a few for my cats over the years. One needed surgery and I was not able to cover the full cost so I was able to get a small personal loan through my bank. I likely wouldn't be able to get one now since my credit isn't as good but at the time it was very easy and I was able to pay it off in 6 months.

by brock_jenkins , 3 years ago

I would look into options at different clinics and hospitals. Some may offer payment plans so you can avoid getting a personal loan to cover this cost. Personal loans can be handy but come at a price if your credit scores are lower than 720.

by eliza.stracke , 3 years ago

It's not ideal, but if you have to do it then go ahead. Just be sure you can afford to pay it back!

A better choice would be an unsecured loan or just borrowing money from family or friends.