| With gas prices increasing many Americans are | | | | Opting to get scooter financing with an installment loan |
| looking to scooters as a way to protect their pockets | | | | is a much more wise decision. |
| against the price of gas. While finding a fuel efficient | | | | With an installment loan the lender can not increase |
| alternative is a good decision, many scooter buyers | | | | your interest rate or payment and your scooter will be |
| are not protecting their pockets when it comes to | | | | paid off at the end of the term. |
| scooter financing. | | | | 4. Consider a personal loan: If you walk in your bank |
| There are many options available when financing a | | | | and ask for scooter financing the bank may not have |
| scooter including credit cards, manufacturer low | | | | such a product. |
| payment promotions, installment personal loans and | | | | Therefore you will likely have to ask your bank for a |
| financing for bad credit applicants. Educating yourself | | | | personal loan, which is basically a simple interest |
| about the various types of scooter loans is important | | | | installment loan that can be used for recreational items. |
| before you make a financial decision. | | | | A personal loan is a great way to finance your |
| Here are some tips for you to follow: | | | | scooter and is much safer than a credit card or low |
| 1. Don't shop for a scooter that is too expensive: | | | | payment manufacturer promotion. |
| Today there are scooters that cost as much as | | | | 5. Read the fine print: As your parents probably told |
| $9000, but shopping for one of these scooters makes | | | | you make sure you read the fine print before signing |
| little sense if you can not get approved for financing. | | | | any loan document. Definitely do not enter a loan |
| Therefore, it is a good idea to shop online, and at your | | | | contract that you do not understand. |
| local bank for a scooter loan before you enter the | | | | 6. Don't borrow more than you can afford: There is |
| showroom. | | | | little reason to purchase a scooter to save on gas if |
| 2. Watch out for low payment promotions: | | | | you borrow more than you can afford. |
| Manufacturers often entice you into buying a scooter | | | | Borrowing more than you can afford will put you in a |
| with low payment promotions which structure | | | | risky financial position. You must consider the cost of |
| payments as low as $39 for 2 years. | | | | insurance, registration, maintenance and gear and |
| Low payment promotions look enticing, but are a very | | | | choose a scooter that fits your budget. |
| bad financial decision for you. | | | | 7. Avoid zero down payments loans: Trying to secure |
| Fundamentally with low payment promotions you are | | | | scooter financing with a zero down payment is |
| only paying off the interest on your loan each month | | | | possible, but may not be the wisest financial decision. |
| and very little is going towards the principal on your | | | | Since scooters depreciate quickly putting money down |
| scooter. | | | | can help you from being upside down if you wish to |
| Worse off at the end of the promotion your payment | | | | sell your scooter in the first 24 months. Putting money |
| will double and your interest rate could increase to as | | | | down is a wise decision. |
| high as 22.9% annual percentage rate. | | | | In the end, buying a scooter is a great way to hedge |
| 3. Get an installment loan: Most low payment | | | | against future gas price increases. But making a sold |
| promotions mentioned above are on a manufacturer | | | | financing decision that gives you piece of mind is much |
| credit card. | | | | more important. |