How to Finance a Move

Pay for your move over time with these financing options

Moving long distance is an exciting adventure, but the financial considerations can lead to some stress. Covering the costs of everything involved is not always simple — especially if you’re moving on short notice. Fortunately, there are several financing options available to help you break moving costs into manageable payments.

Keep in mind that financial decisions can be different for everyone. If you have questions about what’s right for you, we recommend consulting your financial advisor.

5 types of loans for an out-of-state move

If you decide to borrow money to cover moving expenses, here are 5 ways to pay over time. 

Buy now, pay later services

Companies like Affirm® offer buy now, pay later services, which allow you to finance an expense and pay off the balance over time. Payment terms and interest rates will vary depending on the purchase amount and your credit history.

If a moving company offers this payment option, you’ll be able to apply for financing during the reservation process and quickly understand what the payments will look like. It’s a great way to get your move underway without straining your budget. Learn more about financing a U-Pack move.

Credit card

Depending on the interest rate of your credit card and the payback options, you can use it to finance your move. Some cards offer introductory 0% interest or lower rates for larger purchases with fixed payments. Check the terms on your card’s website or call customer service to see what options might be available.

Line of credit

With a line of credit, a bank gives you approval to draw from a pool of money up to a certain amount. You can make one withdrawal or several, depending on your needs, then pay it back with interest over time. Interest rates, payment and withdrawal limits will vary based on your credit history (or collateral in the case of home equity lines of credit). 

Personal loan 

A personal loan is a lump sum deposit from a bank or an individual that you’ll pay back (usually with interest) in monthly installments over a fixed period. Your bank or credit card company might offer personal loans. There are also many other online lenders that offer this service, some with options specifically for paying moving expenses.

If you borrow funds from a friend or family member, it’s a good idea to put the repayment terms in writing and have the document notarized.

Retirement account loan 

Depending on your retirement account, it might be possible to take out a low-interest loan from the balance that you’ll pay back over time. We recommend speaking with a financial advisor to understand the impact it could have on your retirement funds.

Other options for paying moving expenses

If a loan isn’t right for your moving expenses, here are some other options to consider: 

Employer relocation package

If you’re moving for a new job, ask if your employer offers relocation assistance. You might be able to get funds to help pay for the move. 

Savings account 

Start saving for your move ahead of time by putting funds into a savings account. Pull a set amount from each paycheck or put in extra funds like bonuses, side hustle pay or profits from selling unwanted items as you prep for relocating. 

Move with U-Pack: low costs and flexible payment options

No matter how you plan to pay for a long-distance move, it’s important to get the best value for your money. That’s where U-Pack can help. We’re a DIY moving service with over 25 years of experience serving all 50 states, Canada and Puerto Rico. U-Pack pricing is transparent, so you don’t have to worry about surprise fees.  

U-Pack accepts multiple payment methods for your convenience, including credit cards, debit cards, PayPal and Affirm. Get a free, no-obligation online quote or call 844-362-5303844-594-3077 to speak to a moving consultant.  

If you have questions about U-Pack or financing your move, let us know in the comments.