Short answer: add up the whole move first: the mover, the security deposit, the first month of rent and the small costs. Use savings for as much as you can and borrow only the gap. On the example below, borrowing the gap costs a few hundred dollars over a year, more on a card than on a lower rate installment loan. And check the mover before you pay anything: the FMCSA lists a demand for cash or a large deposit before the move as a red flag (FMCSA).
A worked moving budget
Example only; every figure here is an example, not a typical price.
| Cost | Amount | Note |
|---|---|---|
| Interstate mover, non-binding estimate | $2,000.00 | The estimate the mover gave you |
| Plan for at delivery | $2,200.00 | Under a non-binding estimate, the mover must hand over your goods once you pay up to 110 percent of the estimate, plus charges for extra services you asked for (49 CFR 375.407) |
| Security deposit | $1,400.00 | Set by the lease |
| First month of rent | $1,400.00 | Check the lease for when it is due |
| Utility deposits, supplies, travel | $300.00 | Easy to forget |
| Total to plan for | $5,300.00 | |
| Paid from savings | $2,300.00 | |
| Gap to cover | $3,000.00 |
A binding estimate fixes the price for the services it lists, and the mover must give it to you in writing (49 CFR 375.403). Ask which kind you are getting; with a non-binding one, budget for the 110 percent figure.
What the gap costs to borrow
Example only, our calculation: $3,000.00 repaid in 12 equal monthly payments, interest counted monthly. Rates are the Federal Reserve's August 2026 averages at commercial banks for credit card accounts that paid interest and for 24-month personal loans (Federal Reserve G.19); your rate depends on your credit and the lender.
| Option | Monthly payment | Total paid | Interest |
|---|---|---|---|
| Credit card at 22.36%, 12 equal payments | $281.30 | $3,375.60 | $375.60 |
| Personal installment loan at 11.90% APR | $266.41 | $3,196.92 | $196.92 |
- Savings cost no interest. Every dollar you can cover from savings, or by moving later, is a dollar you do not pay interest on.
- A credit card is only this cheap if you really pay it off in the planned months; paying the minimum stretches the cost out.
- A small credit union loan can be an option for part of the gap; payday alternative loans are explained in payday alternative loans.
- Compare loan offers by APR and total of payments (how to read a loan disclosure), and check what the new payment does to your budget (debt-to-income ratio).
Moving scam red flags
The FMCSA, which oversees interstate movers, lists these warning signs (FMCSA):
- No on-site inspection: an estimate over the phone or online, sight unseen.
- No written estimate, or a promise to set the price after loading.
- A demand for cash or a large deposit before the move.
- A request to sign blank documents.
- No copy of the "Your Rights and Responsibilities When You Move" booklet and the "Ready to Move" brochure, which movers must give you.
- A website with no local address and no registration or insurance information.
- A claim that all your goods are covered by their insurance.
- The phone answered with "Movers" or "Moving Company" rather than a company name.
- Offices and warehouse in poor condition or missing.
- A rental truck on moving day instead of a company-owned or marked truck.
- A claim on moving day that you have more belongings than estimated.
Paying a mover by credit card can give you a way to dispute the charge with the card issuer if the job goes wrong; see the card section of paying for a car repair for when that right applies. If a company asks for money up front to arrange a loan for your move, see advance fee loan scams.
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Disclosure: Modern Lending Solutions is not a lender, loan broker or agent for any lender or loan broker, and does not make credit decisions. Any compensation we receive is paid by participating lenders, only for advertising services. This guide is general information, not financial or legal advice.
Sources
- FMCSA Protect Your Move: Spot the Red Flags
- 49 CFR 375.407: delivery of a shipment under a non-binding estimate (110 percent rule)
- 49 CFR 375.403: binding estimates
- Federal Reserve: G.19 Consumer Credit (released October 7, 2026), terms of credit, August 2026: credit card plans and 24-month personal loans