Most U.S. Pet Owners Would Borrow Money to Save Their Animals

A recent ValuePenguin survey of almost 2,000 U.S. consumers revealed that 76% of pet owners would borrow money to save a sick animal, with the proportion climbing to 82% among Gen Z respondents. Respondents indicated they could comfortably cover about $2,818 of emergency veterinary expenses before needing to seek credit, yet routine emergency procedures typically begin at $4,000 to $5,000 and can exceed $10,000 for surgeries.

Because most veterinary hospitals no longer extend credit in-house, owners are directed to third-party lenders such as CareCredit, ScratchPay, Cherry or Affirm, which may impose high interest rates. Even pet-insurance policies generally reimburse after the fact, so owners must still pay the veterinarian up front. Data from U.S. News shows that borrowers with chronically ill pets carry average balances of $3,167, compared with $2,269 for owners of healthy pets. Veterinarians stress that the financial strain often forces heartbreaking decisions, prompting calls for pre-emptive budgeting or insurance coverage while pets are still healthy.