Buy now, pay later services (BNPL) have changed the way consumers shop — from checkout on e-commerce sites to in-store purchases. Instead of paying a full purchase amount up front, fintech brands like Affirm and Sunbit allow buyers to spread it out into smaller, manageable installment payments.

While both solutions help shoppers pay over time, their focus areas differ. Affirm was built for retail and online checkout, while Sunbit was designed for automotive financing, and later expanded to some areas of medical and wellness. For practices, understanding the differences in application process, approval rates, APR, and merchant fees can make a major impact on treatment acceptance and cash flow.

How Sunbit Payment Plans Work

Sunbit is a point-of-sale financing solution that was created to make automotive services more affordable. Since then, the company has expanded to certain areas of medical financing, like dental care, veterinary care, eye care, and wellness needs.

The application process is quick and delivers an instant decision via a soft credit check, which means that patients’ credit scores won’t be affected. With high approval rates — particularly for lower-credit applicants — Sunbit offers a helpful alternative to the rigid standards of traditional financial institutions.

If approved, borrowers can choose from installment plans as long as 72 months and financing as high as $20,000. While this is often enough for low- to mid-tier procedures, it often falls short for high-ticket treatments like full-mouth veneers or mommy makeovers.

Some Sunbit offers include “interest-free” installments, while others apply a low fixed APR depending on the borrower’s profile. However, these “interest-free” promotions are actually deferred interest promotions that require the borrower to pay off their entire balance, on time every month, before the conclusion of the promotional period. Otherwise, interest is charged retroactively at a high APR.

For practices, Sunbit’s biggest benefits are fast approvals and upfront funding. Providers receive payment within days, and integration is relatively simple, though it may require additional equipment.

Key Takeaways — Sunbit

• Application process: Quick digital application with a soft credit check and instant decision.
  
• Loan amounts: Financing up to $20,000 for services like auto repair, dental care, and wellness.
  
• Terms: 3-72 months.
  
• Interest & fees: Promotions include deferred interest. No hidden fees, late fees, or prepayment penalties.
  
• For providers: Upfront funding within days through Transportation Alliance Bank; created for car repairs and dealerships; offers deferred-interest promotions; caters to borrowers with lower credit scores; offers multiple ways to pay, like BNPL and the Sunbit Card (Visa).

How Affirm Works

Affirm is one of the most established buy, now pay later brands in the United States. You’ll see it at checkout on major retailers like Amazon, Walmart, and Target, where shoppers can choose between short-term Pay in 4 plans or longer pay-over-time loans.

The application process begins with a soft credit check, meaning there’s no impact on patient credit scores. However, for larger purchase amounts or extended terms, Affirm may run a hard credit check that appears on reports with major credit bureaus. Approved customers can borrow up to about $17,500, with fixed APR ranging from 0% to 36%.

For patients, Affirm’s biggest benefit is predictability — no hidden fees, late fees, or prepayment penalties, and transparent total cost at checkout. For practices, the downsides include higher merchant fees (around 5.99% + a $0.30 transaction fee) and a structure better suited to online retail than healthcare providers.

Key Takeaways — Affirm

• Application process: Instant approval decision with a soft credit check; may require a hard inquiry for larger loans.
• Loan amounts: Up to $17,500 depending on creditworthiness and purchase type.
• Terms: Pay in 4 biweekly installments or fixed monthly payments for 3 to 36 months.
• Interest & fees: Fixed APR between 0% and 36%; no deferred interest, hidden fees, late fees, or prepayment penalties; may require a down payment.‍
• For providers: Well-known BNPL brand with strong retailer partnerships; not built specifically for healthcare.

Sunbit vs Affirm: Quick Comparison Table

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Sunbit May Be Right for Your Practice If…

• You serve patients in one of the medical areas covered by Sunbit, like dental care, veterinary care, eye care, etc.
  
• You cater to patients with adverse credit history.
  
• Your procedures generally don’t exceed $20,000.
  
• You’re confident your patients can pay off their 0% offers before deferred interest kicks in.

Affirm May Be Right for Your Practice If…

• You sell smaller treatment packages or retail items through checkout or e-commerce platforms.
  
• Your patients already use BNPL tools like Affirm, Klarna, or Afterpay and want a consistent payment method.
  
• You’re comfortable with hard credit checks for larger loans.
  
• You prioritize a recognizable buy now pay later brand that integrates with major retailers and shoppers online.

Top Alternatives to Sunbit and Affirm

Cherry

Cherry is a healthcare-first BNPL platform built to make medical and wellness financing accessible for borrowers of all backgrounds. Designed for providers in plastic surgery, veterinary, aesthetic, dermatology, and dental care, Cherry lets patients split costs up to $50,000 into manageable monthly plans as long as 60 months.

Patients can apply in less than a minute and get an instant decision without a hard credit check. If approved, qualified borrowers can access true 0% APR payment plans with no hidden fees or deferred interest. Practices receive upfront payment within 2-3 business days and enjoy high approval rates, the industry’s lowest merchant fees, and approvals exclusive to the practice (funds must be used at the practice where the patient was approved).

Key Takeaways — Cherry

• Application process: 60-second soft credit check (doesn’t hurt credit score) with instant approval decision; can be done on patient’s mobile phone.
• Loan amounts: Up to $50,000 for medical, dental, and wellness procedures.
• Terms: Pay-in-4 interest-free installment payments or extended monthly plans up to 60 months.
• Interest & fees: True 0% APR options for qualified borrowers; no hidden fees, deferred interest, or prepayment penalties.‍
• For providers: 80%+ approval rate; upfront payment to practices; lowest merchant fees in the industry; true 0% APR options; exclusive approvals.

CareCredit

CareCredit is one of the most recognized names in medical financing, offering patients a reusable line of credit that can be used for healthcare and wellness purchases. Accepted at over 270,000 providers nationwide, it’s a popular choice for dental, veterinary, and cosmetic care.

Unlike some of the other providers on this list, CareCredit does require a hard credit check like traditional institutions. This means that the application process will temporarily harm the borrower’s credit report.

If they’re approved, patients can access a credit line up to $25,000 usable at any participating provider. Some borrowers may also qualify for 0% promotions, but these also charge deferred interest at a high APR if the balance isn’t paid in full, on time, by the end of the promotional period.

For practices, CareCredit provides upfront payment and strong brand recognition, but the downsides are higher merchant fees, lower limits, deferred interest, hard credit checks, and a lack of exclusivity (patients can use their medical credit card at over 270,000 providers).

Key Takeaways — CareCredit

• Application process: Online or in-office application requiring a hard credit check.
• Loan amounts: $25,000 credit limit.
• Terms: Reusable line of credit with promotional financing (deferred interest) periods.
• Interest & fees: Deferred interest if balance isn’t paid in time; APR up to ~32.99%.‍
• For providers: Upfront payment; wide acceptance; trusted brand; higher merchant fees than other BNPL options.

Afterpay

Afterpay is a straightforward BNPL app best known for its “Pay in 4” model — four equal, interest-free payments over six weeks. It’s widely available at retailers, e-commerce stores, and in-store checkouts, making it a top choice for shoppers seeking flexible payment options.

For patients, Afterpay offers accessibility and instant approval without a hard credit check. For practices, it can be useful for smaller wellness add-ons or retail products, but in the US, it’s limited to use in medical aesthetics. Overall, low funding amounts, shorter terms, and a lack of versatility make it less suitable for most healthcare expenses.

Key Takeaways — Afterpay

• Application process: Instant approval at checkout with soft credit check; no hard inquiry.
• Loan amounts: Generally up to about $2,000 per transaction.
• Terms: Pay in 4 biweekly, interest-free installments.
• Interest & fees: No interest charges; late fees apply if payments are missed.‍
• For providers: Fast setup for small-ticket in-store or online purchases; not designed for larger healthcare procedures.

Klarna

Klarna is a global buy now, pay later provider offering Pay in 4, Pay Later, and Pay Over Time options. Integrated with major retailers and online stores, it gives consumers flexible, interest-free payment options at checkout.

Patients benefit from short-term interest-free plans and longer installment options with fixed APRs ranging from 0% to 35.99%. For practices, Klarna offers strong e-commerce functionality but limited healthcare specialization, making it less practical for higher-cost treatments or in-person financing.

Key Takeaways — Klarna

• Application process: Quick digital approval with soft credit check; may require hard inquiry for long-term loans.
• Loan amounts: Dynamic limits based on spending history and credit profile.
• Terms: Pay in 4, pay later in 30 days, or extended pay-over-time options up to 36 months.
• Interest & fees: 0–35.99% APR depending on creditworthiness; late fees may apply.‍
• For providers: Strong retail integrations and in-store functionality; not healthcare-focused; lower loan limits; shorter terms.

Final Thoughts: Choosing Between Sunbit and Affirm

Both Sunbit and Affirm make it easier for patients to buy now and pay later, but they serve different needs. Affirm helped pioneer BNPL for e-commerce and retail, offering predictable monthly payments and transparent pricing for purchases across major online and in-store retailers. It’s familiar and convenient at checkout, but its structure is still built primarily for consumer retail rather than high-value healthcare.

Sunbit was originally developed for automotive financing. And though it has since expanded into areas like dental care, vision, and general wellness, its fee structure and financing don’t make it ideal for larger healthcare procedures. Loan amounts are limited to $20,000, and deferred-interest promotions can cause unexpected, snowballing debt.

For practices seeking a true healthcare-first financing experience, specialized partners like Cherry offer a better fit. With soft credit checks, instant decisions, an 80%+ approval rate, true 0% APR for qualified borrowers, and the industry’s lowest merchant fees, Cherry helps patients say yes to treatment while improving long-term cash flow for your practice. Find out more. Get your personalized Cherry demo here.