As summer comes to a close, many college students are scrambling to get everything they need to head to campus. If you are about to head to a new city, why not change things up a little and buy a scooter to cruise around on? Scooters will save you money on gas and are much easier to park, and scooter financing rates have never been so low – so what are you waiting for?
Thanks to historically low interest rates, now is the perfect time to finance a scooter to head to class. Instead of paying a ton for car maintenance, parking spaces, and gas, a scooter is the perfect way to save money. Just make sure that you shop around for the best financing rates. Each dealership will have its own incentives and qualifications, so look at several options before you sign on the dotted line.
Know Your Credit Score
The amount of money that you will pay in interest will depend on the health of your credit score. Before you look into scooter financing, be aware of what your current credit score is. You might be able to get a better deal on financing if you can find ways to improve your score, or even consider options like having your parents co-sign your loan.
Consider It an Investment
Sure, you will be using your scooter to make your way around town in style, but consider your scooter purchase a long-term investment. If you choose a brand that has a high resale value like Wolf or Genuine, then you can use the scooter until you graduate and then trade it in or sell it to recoup your investment. If you go with a lesser-known or lower-quality scooter, then you may pay less upfront, but you also might have a hard time selling or trading it in. Sometimes financing a slightly higher-priced scooter will pay off in the long term when it’s time to graduate and move along!
Consider Putting in a Down Payment
Sometimes putting money toward a down payment can significantly lower your overall repayment costs. Other times, when financing is low, it doesn’t make much sense to put money down for the small difference it makes in your monthly payment. Make sure to have someone on your side advising you about what is best for your finances in the long term. If you don’t know what to look for, bring along someone who does. It is a big decision, so make sure you know all angles!
As summer comes to an end, many college students are looking for the best mode of transportation to make their way to and from class. With interest rates being historically low, now might be an excellent time to finance a scooter for your transportation this school year. Contact Scooter Stop to inquire about our financing options. We work hard to stay competitive and to work within your budget!