How to Finance a Move

Financing a move: Options to pay over time 

When the opportunity to relocate to another state comes knocking, you don’t have to close the door over the fear of moving costs. We understand if the thought of paying for a long-distance move upfront makes you nervous.

While making payments is common for large purchases like homes and cars, it’s also possible to finance moving expenses. Several options are available to help you break moving costs into manageable payments to reach your goals in a new city. Check out these 5 moving loan options.

5 common loans to pay for moving out of state

If you plan to borrow money to cover moving expenses, here are 5 popular 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 can apply for financing during the reservation process and quickly understand the payments. It’s a great way to get your move underway without straining your budget.  

Learn more about financing a U-Pack move with Affirm.

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 for options. 

Line of credit 

With a line of credit, a bank approves you to draw up to a certain amount from a pool of money. Depending on your needs, you can make one withdrawal or several, 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 for moving expenses

A personal loan is a lump sum you’ll pay back (usually with interest) in monthly installments over a fixed period.

Bank loan

Your bank or credit card company might offer personal loans based on credit history. Many other online lenders also offer this service, some with options specifically for paying moving expenses.

Individual loan

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 the specific retirement account, it might be possible to take out a low-interest loan from the balance to pay back over time. We recommend speaking with an accountant and financial advisor to understand the impact a loan could have on your taxes and future retirement income.  

How else can you pay for 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. 

Relocation grant

Depending on your reason for moving and the area of your new home, you might qualify for government aid to help with relocation expenses. Use the U.S. Government Benefit Finder tool to see if you are eligible for federal relocation grants. For state-level grants, contact the state’s government office for more information.

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. 

Choose U-Pack for low costs and flexible payment options

However you plan to pay for a long-distance move, getting the best value for your money is essential. That’s where U-Pack® comes in. Our pricing is transparent; you don’t have to worry about surprise fees.

U-Pack is a DIY moving service in business since 1997. We service all 50 states, Canada and Puerto Rico.

We accept 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, please let us know in the comments.