Not a whole lot of positive has come out of the beginning of 2020, but look on the bright side, money is cheaper now than it has ever been! With the spring quickly switching into summer-high-gear, now is a perfect time to ditch your gas-guzzling, freedom-stunting automobile and purchase a scooter.
Not only are scooters a more economical way to travel, with financing options so low; there might never be a better time to pull the trigger and hit the open road.
Are Scooter Financing and Car Financing the Same?
The reality is that scooter financing is slightly different than used or new car financing. In general, the loans work in the same way, but they are considered different. For instance, you can’t go to a car lender and get a car loan and then use the money to purchase a scooter. Many car lenders are more reticent to give loans for scooters and motorcycles. But the lenders work in the same way, using your credit score and reliability as determinants of your ability to borrow.
Interest Rates are at Their Lowest
If you are ever going to finance a scooter, there might not be a better time. Interest rates are at their lowest in history, so there are many options available to finance your scooter. And since they cost a fraction of a car, you can pay off the loan in a quicker time. That means less money in interest over the term of the loan. And the longer the interest rates remain low, or perhaps even go lower, the better chance you have at getting a great financing deal.
What is the Best Way to Get a Good Financing Rate?
Just like with a car, the best way to qualify for the best scooter financing rate is to watch your credit history and score very closely. It is important to make sure that you have both a healthy amount of credit history and that it is a positive history, meaning that you pay your bills on time. Before you go for scooter financing, it is always a good idea to check out where your score rates. And also, look for a dealer who is offering a good percentage rate and one who has a good reputation for fairness.
Look at Manufacturer’s Specials
Just like cars, certain scooter manufacturers will offer incentives. So seasonal timing is also a great thing to watch for. With summer heading our way, many scooter companies might be willing to offer a lower percentage finance rate to increase their purchasing volume. It is a good idea to do your research and check around.
As the spring quickly turns to summer, now is an excellent time to consider buying a scooter. With everything going on, it is better to ride a scooter than take public transportation. And with the historically low-interest rates, if you couldn’t afford one before, this might be your chance.
At Scooter Stop we offer competitive scooter financing options that are fair and honest. Our mission is to help you achieve your dream of driving off in a scooter. Come by our showroom in Charleston, SC today and see what is available.