Major purchases are often necessary for consumers with limited credit options. Many rely on financing to replace broken items or pay for essential services. A significant portion of consumers with lower credit scores face challenges in accessing credit.

Financing solutions are crucial for these consumers, with nearly 4 in 10 saying they could not afford a recent purchase over $300 without financing.

Further information on consumer financing habits and challenges can be found through a study by a company that provides flexible financing solutions, which reports that a substantial percentage of credit-challenged consumers use financing for major purchases.