Contractors
Enterprises
Homeowners
Resources
For Contractors
Solutions for small and medium-size businesses
Contractor Financing Platform
Be in control of how you offer financing with our all-in-one financing platform.
Contractor Resources
Learn more about how financing can help your business.
For Enterprises
Solutions for moving companies and SASS platforms
Invoicing & Estimation Platforms
Offer financing to 100% of your users with our Embedded Financing platform.
Private Equity Firms
Consolidate how your portfolio companies offer financing.
Moving & Storage
Get more movers with a marketplace of lenders embedded in your experience.
For Borrowers
Browse home improvement & debt consolidation loans
For Borrowers
Browse home improvement & debt consolidation loans
For Borrowers
Browse home improvement & debt consolidation loans
For Borrowers
Browse home improvement & debt consolidation loans
For Borrowers
Browse home improvement & debt consolidation loans
Resources
Learn more about Acorn Finance
Home Improvement Guides
Learn more about financing in the world of Home Improvement.
Our Financial Partners
See available lenders in our marketplace.
FAQs
How Acorn Finance works.
About Us
Read about our story.
Newsroom
See our latest news.
HomeHome ImprovementFitness Equipment Financing
Advertising Disclosure Acorn Finance receives compensation from some of the companies featured on our website, which may influence the presentation and order of the offers shown. Please note that not all loan options, savings products, or lenders are represented on our site.

Exercise Equipment Financing for Good & Bad Credit

Compare monthly payment options from several lenders in under 2 minutes.

How much would you like to finance?

Woman smiling at financial transaction on smartphone via Fiona Template.

Finance Fitness Equipment with Home Gym Loans

As you begin to create a home gym, you may quickly realize you need fitness equipment financing. Whether you need to purchase a few starter items or commercial grade fitness equipment, you can use financing. Gym membership fees and working out with other people around can get annoying. That commute to and from the gym makes getting to the gym an obstacle to maintaining a solid exercise regiment. Having a gym in your garage or basement allows you to exercise in the privacy of your own home and hit the showers in the privacy of your own bathroom. With your daily exercise routine being just a few steps away, you should be able to live a healthier lifestyle.

Check Offers
Quick. Simple. Secure.

How To Finance A Home With Acorn Finance

How To Get Finance For Home With Acorn Finance
Security concept with shield icons across desktop and mobile platforms.
1

Pre-qualify

Fill out an easy online form to check for pre-qualified offers with no impact to your credit score
Concept of data sharing across desktop and mobile platforms.
2

Select offer

Compare terms and payment options to select the offer that’s best for you
Iconic online banking symbol depicted on computer and mobile screens.
3

Finish application

Complete your application on your selected lender’s website
Icon symbolizing monetary investment or support.
4

Receive funding

After your loan is approved, your funds should arrive within 1-2 business days2

Check offers
in seconds

Get pre-qualified for loan offers with an easy online form

Won't impact
credit scores

Checking offers will not impact your credit score

Competitive
payment options

Compare rates from our network of lenders

Receive
funds quickly

Same-day and next-day available for certain offers2

Compare Rates From Lenders in Our Network

Learn More About Fitness Equipment Financing

So what are your exercise equipment finance options? Keep reading to learn more about finance home gym equipment.

Read more - FAQ

+

What is fitness equipment financing?

Fitness equipment financing is a way for you to renovate your basement or garage and purchase all the exercise equipment you need by paying a monthly installment rather than paying for it all upfront.

Many people choose to finance fitness equipment to allow them to afford more state of the art equipment than what they would be able to purchase with their savings alone.

Can I finance exercise equipment?

Yes, you can finance exercise equipment. In some cases, a personal loan may be the best option for financing exercise equipment. Acorn Finance has lending partners that can provide personal loans up to $100,000. A personal loan can provide the funds you need to finance exercise equipment and make any home improvements necessary to complete your home gym.

How much does it cost to finance gym equipment?

Home gyms can range in price depending on what type of equipment you want, what your training goals are, and how complex you want the home gym setup to be. You could spend as little as $300 on some dumbbells and some resistance bands with a bench, or you could spend as much as $15,000 on all new state of the art equipment.

Also, where do you want to set up this home gym? Are you going to remodel the basement or part of the garage? The location of your gym can also determine how much you need to spend on air circulation through fans or HVAC. If you are in the basement, you may need to consider a dehumidifier to prevent the space from growing mold and mildew.

The type and quantity of equipment may consume a significant portion of your budget. Treadmills, ellipticals, and exercise bikes can each cost you a few hundred or a few thousand dollars. A rowing machine, power rack, and bench press set up can add another thousand or two. Dumbbells and kettlebells can cost another few hundred dollars.

The size and scope of your gym will determine cost along with how much remodeling you want to do to the flooring, walls, lighting, etc.

Can I finance a treadmill?

Yes, you can finance a treadmill, and some retailers offer their own financing. However, be wary of financing directly from the treadmill manufacturer. They may offer a 0% APR for a short term such as 12, 24, or 36 months, however, if you do not pay it off in time, you may face extremely high interest fees. Promotional financing can be a smart option if you qualify and are able to pay the loan balance in full within the promotional period.

Is it better to lease or buy gym equipment?

Leasing may offer more flexibility than purchasing gym equipment, however, buying equipment gives you ownership. It's really up to you as to which method you prefer.

There may be tax benefits for either leasing or purchasing gym equipment you will want to consider as well.

The pros and cons of purchasing vs. leasing gym equipment rest around ownership. While owning your own equipment gives you ownership. It's unlikely that your equipment will ever be worth more than you pay for it. If you plan to upgrade often, leasing may be a better option. Leasing can allow you to make upgrade exchanges easily. One downside to leasing is you are typically not allowed to make alterations or customizations to any of the equipment because you do not own it.

Ultimately, there are pros and cons to each prospect and your final decision should work best for you.

How long can you finance gym equipment?

If you are taking out a small personal loan, then you and the lender can agree to terms that determine the length of life for the loan based on what kind of monthly payments you are looking to make.

Common personal loan lengths range anywhere from 12 to 60 months and can even be sometimes longer depending on how large your home gym project is and how much financing you need.

What are the benefits of fitness equipment financing?

There are two main benefits to fitness equipment financing. First, you can pay off the newly installed home gym over the span of a couple of years instead of all upfront and at once.

Second, you can invest a larger sum of money into a home gym by being able to pay it off over time. This may allow you to purchase better equipment and maybe do some remodel to add in gym style flooring and an air ventilation system.

What types of loans can you get to finance exercise equipment?

You may have several options when it comes to financing exercise equipment. Before you worry about how you will finance the exercise equipment you may want to narrow down what you want to purchase and what it will cost. Next, you should determine who can offer you the best deal on the equipment itself. In some cases, retailers or manufacturers may offer financing for exercise equipment.

You may want to consider what a retailer or manufacturer can offer, but always pay close attention to the terms. If a retailer or manufacturer is offering promotional financing, you may be able to borrow money for little to no additional cost. While this may sound attractive, you will want to make sure you can pay the loan in full within the promotional period. Promotional terms are often short and you may not be able to repay the loan in full during the promotional period. So how else can you finance exercise equipment? You can use a personal loan to finance gym equipment. Personal loans can offer plenty of funds and fixed repayment terms that can allow you to buy the exercise equipment of your choice. Whether a retailer offers financing or not, you can use a personal loan to finance exercise equipment.

What type of loan is best to finance gym equipment?

The best type of loan for financing gym equipment can depend on your personal finances. In some cases you may have several options available. In some other cases you may only have one or maybe two financing options. Before determining which option is best you will need to determine what options are available to you. In most cases, a personal loan will be one of your options. Or perhaps it's your only option. Whether you need to remodel a room and transform it into a home gym or just buy the exercise equipment, you can use a personal loan. If you are doing an extensive home remodel you may want to to use a secured loan to finance the remodel and the exercise equipment.

Whether you use a secured loan or unsecured loan you will need to make sure you borrow enough money, but not more money than you need. Depending on the situation a secured or unsecured loan might be the best option. However, in some cases, if you can take advantage of promotional financing and repay the loan before the promotional period expires, this may be the best option. You will need to explore the options available to you to determine which is the best for your situation.

What credit score do you need to get a gym equipment loan?

Even though gym equipment is a vital part of any at-home workout program, it is almost always expensive. You will have an easier time securing a loan when you have a better credit score, as well as an affordable and comfortable timeframe to repay a loan if you are considering making a substantial purchase such as this.

If your credit score is less than perfect, a lender may still make you an offer. In general, gym equipment financing requires a minimum credit score of 600. Your financing options will be easier and more convenient if you meet that threshold, although obtaining financing is still possible if it is lower.

Credit scores typically range between 600 and 700, with the average American score being 711. The likelihood of being approved for a gymnasm loan is high if your credit score isn't too low. If you are trying to qualify for promotional financing you may need a good to excellent credit score. If you have less than perfect credit, a personal loan may be the best option.

Can anyone finance new gym equipment?

If you qualify, you can finance new gym equipment. Although, if you have a low credit score it will be much harder for you to find a loan that has low rates and fees. The higher your credit score, the easier the loan will be in terms of fees and intricate details related to paying it back in full. If you have a credit score that is in the high 700s or 800s, you should find that you have access to any number of financing deals. The lower your score, the less choices you have to pick from. The average credit score in America is 711. That is a score that is capable of granting you many different choices in terms of loans. If you are among the average American, you will find a personal loan that is right for you and your family and your plans and your wallet.

Can I get a personal loan to buy new exercise machines?

Personal loans can be a great way to finance new exercise machines. Personal loans do not require collateral and usually have fixed repayment terms. In addition, compared to credit cards, personal loans usually have lower interest rates. A fixed monthly payment is easier to manage since you know how much you need to pay, when it's due, and how long you are responsible for making the payment.

Another perk to using a personal loan is that you can pay for new exercise machines and home improvements with one loan. At Acorn FInance you can access personal loan offers up to $100,000. Personal loans can offer competitive interest rates, making them a popular option for consumers. Whether you decide to use a personal loan or another type of financing you will need to make sure you secure a loan with lowest possible total loan cost. You will also want to make sure you can cover the monthly payment. While a personal loan can make sense for a majority of consumers, there may be a better financing option out there. Always make sure to compare your options and loan costs before committing to a loan.

Is financing exercise equipment a good idea?

There is a wide variety of gym equipment on the market today. Some of it is rather cheap and some of it is incredibly expensive. This means that some gym equipment might be out of your price range. Financing can be good, but deserves careful consideration before determining it's a good idea for your personal situation. While making a monthly payment may sound easy, you will want to consider other costs associated with the loan such as interest. After considering total loan costs does it still make sense to borrow the money? If financing allows you to purchase high-quality gym equipment and you can secure competitive terms it's probably a good idea. Before accepting a loan offer you should compare personal loan offers at Acorn Finance. If you are struggling financially or unable to secure competitive loan offers, you may want to wait a bit before financing. While financing can provide the funds you need, you should commit to making sound financial decisions and only spend within your means.

Where can I finance fitness equipment?

You may have found gym equipment financing through retailers, but you may be in search of more options. As we mentioned earlier, promotional financing offered by retailers can be enticing. However, for big ticket items, it can mean high monthly payments. If you are concerned about being able to cover the monthly payment, it's a good idea to consider other options. Afterall, one bad mark on your credit report can impact your credit score.

You may have thought about just using your credit card. Which may work but might not be the best option. While credit cards may help you finance some gym equipment, a personal loan may be a cheaper option. Compared to credit cards, personal loans can offer much lower interest rates.

Before you jump right into financing you may want to estimate what your project will cost. Once you know how much money you need to borrow you can apply for an appropriate amount. After you check offers, you can determine if you can afford the monthly payment.

The importance of having a fitness routine is instrumental to a long healthy life. Staying active can help you save money on medical costs as you age.If you have a home gym, you may find it easier to stick to a fitness regimen that works for you. Forming habits and finding a routine is important for practicing a healthy lifestyle. While establishing your own home gym may sound expensive, so can paying for a gym membership. In the long run, a home gym will potentially pay for itself.

For gym equipment and home improvement financing you should consider an Acorn Finance lending partner. Acorn Finance has trustworthy lending partners that can offer APRs as low as 6.99% depending on your credit score. Individuals can discover simple and competitive payment options through Acorn Finance. At Acorn Finance, you can submit one application and receive loan offers in 60 seconds or less with no impact to your credit score. Once you have claimed the best offer and finalized the loan, you can receive funds quickly.

Let us do the heavy lifting. . . check gym equipment financing offers with no impact to your credit score!

Can I still finance gym equipment with a bad credit score?

Most lenders want borrowers to have a FICO credit score of 650 or higher, but not all. Lenders usually have a minimum credit score requirement. If you have a bad credit score, you will want to be aware of minimum credit scores before applying. Otherwise, you may waste a credit check or your time. Consumers often finance gym equipment through in-store financing, which may be harder to qualify for compared to a personal loan. Personal loans can be used for financing gym equipment. If you have a FICO of 600 or above, you should consider checking offers at Acorn Finance. In some cases, you may qualify for a personal loan with a FICO score below 600 but you will likely need to have other factors going your way. If you have a bad credit score, lenders will usually want to see healthy cash flows, stable employment, and other factors, to even consider approving your loan request.

If you need to buy commercial gym equipment, exceeding $10,000, you may be able to use it as collateral to help secure the loan. Secured loans are often easier to qualify for with bad credit than unsecured loans. With a secured loan, the lender has collateral that can help guarantee that they will get their money back.

If you only need to borrow a small amount of money to finance gym equipment, you may want to consider applying with a cosigner. Perhaps you qualify for gym equipment financing on your own but you want to get the rate down. Adding a cosigner with good credit can help you do that. Alternatively, you may not qualify for gym equipment financing on your own and need to apply with a cosigner.

Unless you are purchasing gym equipment for a business, it's likely a purchase you can hold off on. Oftentimes it makes the most sense to rebuild your credit score before taking out a loan. Rebuilding your credit score can help you qualify for gym equipment financing and other things you may need financing for.

What happens if I get a loan for fitness equipment with a bad credit score?

A FICO credit score below 629 is often considered a bad score. Having bad credit limits your options and often forces you into more expensive loan offers. You may have bad credit because you made late payments or have accounts that are in collections. You also may have bad credit because you have had recent hard inquiries into your credit score, limited credit history, and more. This indicates that you may miss a loan payment in the future, which would cost the lender money.

However, a bad credit score does not always mean that you will not qualify for a loan. If you do qualify for a fitness equipment loan with bad credit, you will first want to evaluate the terms and conditions. What are the fees? What is the monthly payment? What is the total loan cost? After answering these questions you can decide if the loan is affordable and even more importantly if it's worth it.

If you decide to move forward and accept the loan it will be critical to make every single payment on-time. If you can achieve on-time payments you can improve your credit score. While you may be paying a premium for the loan, at least you can get some benefits out of the situation.

Some lenders will only work with borrowers who have good credit, because they are considered to be more trustworthy. But there are ways to get loans with bad credit.

How much will it cost per month to finance gym equipment with bad credit?

How much gym equipment financing costs per month can depend on several factors. These factors include how much you borrow, the type of loan you use, the APR, and more. For example, if you charge your new gym equipment to a credit card, your monthly payment may be $100 one month but $125 the next. Credit card payments can vary and just because you make the minimum monthly payment every month does not mean you will pay the balance off. It's usually a smarter idea to use a fixed installment loan such as a personal loan to finance big ticket items that you may need some time to pay off. To determine how much your monthly payment would be, you should start by estimating what gym equipment costs. Once you have an idea of how much you need to borrow you can check offers at Acorn Finance. With an actual loan amount, APR, and more, you can accurately understand how much your monthly payment might be. You can then decide if financing a gym equipment works for you or not.

If financing doesn't make sense, you may want to consider leasing gym equipment. Leasing may dismiss you from other expenses as well such as maintenance or replacement costs. If you have a tight budget, leasing may be a better option.

Should I finance gym equipment with a low credit score?

When assessing your personal loan application, lenders are deciding if they want to approve it. They are also deciding what interest rate to charge you and how much money they want to lend you.

A bad credit score indicates that you have had trouble making payments towards credit cards or other loans in the past. This makes you seem like a risk to the lender. As a result the lender may choose to deny the request or offer you a high APR. APR should include origination fees and the interest rate, in other words it should show you the total loan cost. You will want to pay close attention to the total loan cost as it will help you determine if financing gym equipment is worth it. If you pay $100 a month for a gym membership and can replace that expense with a monthly payment for gym equipment financing, overtime, you may be able to save $100 a month or more. However, your monthly payment may be much higher causing you to struggle financially. If you have a low credit score and take out a loan it's especially important to make sure the loan is repaid on-time. With your credit in a fragile state, you could destroy it with any more financial mistakes.

Getting a personal loan with bad credit, which means your FICO credit score is between 300 and 629, means your APR may be around 29%. You may not even qualify for a loan. At times, you may be paying half of what your loan is worth in interest alone.

It is important to think about the consequences of getting a loan when you have a low credit score. It is very expensive. If you are not in a hurry, it is definitely worth raising your credit score before getting a loan.

Who offers financing for fitness equipment for low credit scores?

If you have a low credit score, you may be limited on options for fitness equipment financing. If the retailer you are purchasing equipment from offers financing, you should see if you qualify. This may be the easiest option. However, you will want to compare their offer with other offers, if possible. With a low credit score you may qualify for a personal loan. Lenders such as LendingPoint, Upstart, SoFi, and OneMain Financial can help borrowers with low credit scores. These four lenders, in addition to many more, are Acorn Finance lending partners. At Acorn Finance you can submit one form to check offers from multiple top national lenders.

How Does Acorn Finance Compare?

Compare Rates From Top Lenders

Monthly Payment Calculator

Are you a contractor?
Generate more revenue with Acorn Finance.

Offer customers the ability to finance their dreams with zero dealer fees.

Get Started

Popular Home Improvement Projects

Barn Financing Options

One home, endless possibilities

MORE HOME IMPROVEMENT FINANCING OPTIONS

Personal Loan Information