snowmobile loans

Do you dream of being able to rip through the snow on your own snowmobile and really getting out and enjoying the winter, but your credit score is kind of in the red zone? You’re not alone, but we’re here to help.

The financial world can be quite daunting for a lot of people, but we’ve got an explainer here to help you find your way to the snowmobile you’ve been dreaming of.

What does bad credit mean?

A person’s credit rating is based on their credit score, which falls between 300 and 900. A person with ‘bad credit’ has a score below 660.

It doesn’t take much for your credit score to fluctuate. Being a few days late on a bill payment, or carrying a balance on a credit card can cause your credit score to drop.

Having bad credit isn’t the end of your financial life, but it can make it more difficult to make larger purchases, like a house or a car. The good news is, you don’t have to live with that score forever. 

bad credit

Can I get a snowmobile loan with bad credit?

The short answer is yes, there are lenders out there, including us at Breeze Financial Services, that are more than willing to help you get onto the snowmobile or other powersport vehicle of your dreams.

You can also go through a dealership or manufacturer, if they have financing options. Not all of them do, so make sure you do your research before you dive in.

We do not recommend you try to get your winter ride with a credit card. The interest rates are much higher and can make it more difficult to pay off. If you’re really set on getting a snowmobile, contact us instead so we can get you the right loan with the best interest rate.

How much is the loan?

That will depend on what snowmobile you’re looking at. New snowmobiles start around $10,000, but they definitely start to depreciate once they’re off the lot. You can get a good quality used snowmobile for under $ 6,000.

Increasing your chance of loan approval

As much as lenders may want to work with you on a small loan, it can still be too risky on their end to take on someone with bad credit. There are, however, ways you can improve your chances of getting approved.

Try and save up enough for a down payment, they can be as low as 5% in a lot of cases. This shows you are serious about the loan and means you’ll have less to pay back.

Perhaps the easiest, but also may take the longest, is improving your credit score. Make sure you pay all your bills on time, and if you have a balance on your credit card, at least make the minimum payment. If you can get into doing that consistently, your score will go up.

Is it worth it?

New and used snowmobile financing is actually a great way to rebuild your credit, so it can absolutely be worth it! We can help you figure out how much you can afford for a monthly payment and make it easy for you to have the snowmobile of your dreams.

Also consider making more payments when you have the extra money and get your loan paid off sooner. Once that has been cleared, you’ll be able to enjoy your snowmobile that much more.

snowmobile credit

Ready to Apply?

Think you’re ready to get on that new-to-you snowmobile? We can help you figure out the best snowmobile financing rates for you and your finances, and show you how long you can finance a snowmobile for, no matter your credit score. Apply today and start enjoying winter that much sooner!




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