The dream is always the same; loading up your very own ATV, heading out to the trails, and spending the day in the glorious outdoors. It’s a lifestyle many yearn for but feel it’s out of reach.
There really is no specification as to who qualifies for ATV financing. If you are a person with a dream to spin the dirt up behind you on the trails, then you can qualify. There are a variety of options available within Canada that allow riders of all ages to get behind the wheel.
Not everyone has cash on hand to purchase high-value products like powersports vehicles; however, you can still own one. Some people who don’t have access to cash borrow money to buy their dream ATV through powersports financing.
There are many reasons people choose to finance in Canada and many different ways to invest. It is possible to make that dream a reality, no matter your financial situation.
What about my credit score?
This little number hangs over most adults’ heads and determines how good they are at paying their bills.
The credit score proves to banks and other lenders that you make timely payments and will make them.
Many people think that not having a good credit score means they’re terrible people. It’s why they avoid talking about it like it reflects poorly on their character. Everyone goes through rough times; it doesn’t mean anything about them as an individual.
Having a good credit score makes getting ATV financing easier, but it’s not the end all be all. People with bad credit or no credit score shouldn’t just assume they cannot secure funding.
Different types of financing
After you find an ATV for sale and are confident it is the one for you, there are different ways to obtain ATV finance, and they all have upsides and drawbacks. It’s all a matter of choosing which works best for your situation.
Consumer loan: This is the financing you’ll get at a dealership. This type of powersports loan would be for a specific vehicle, usually one you’ve chosen on the lot. They often have the best rates and offer no money down or zero payments for a certain amount of time.
Credit card loan: This is where you apply for a credit card with the limit you need to purchase the ATV. They tend to be long-term with much higher interest rates, meaning you’ll be paying more than the price of the ATV. Some will offer 0% APR for a set amount of time, which sounds great if you can pay off the balance within that time frame. Once that time has passed, you’ll often be hit with a ridiculously high-interest rate, making it more difficult to pay down the principal.
Personal loans: These don’t have to be for a specific purchase but rather for a specific amount. What you choose with that money is up to you, so long as it’s paid back. The flexibility and low-interest rate make them attractive and easy to obtain for a powersports loan, provided you have good or excellent credit.
Co-signing: If you’re too young to have any credit or need backup to prove that you’re not at risk of defaulting, you can have someone else co-sign a loan with you. Usually, a parent or another adult with an established credit history can vouch for you. It also means they’re on the hook if you don’t make your payments, so make sure you do. Money is among the top reasons relationships end, be they romantic, familial, or otherwise, so don’t let loan default be a reason yours ends.
Powersports Financing Specialized Companies:
Offer a hassle-free financing option for ATVs, UTVs, Side by Side, Boats, Trailers, snowmobiles, watercraft, and more. Credit scores and lack thereof do not matter, as they often focus on the individual’s budget. Powersports financing specialized companies work with established lenders and dealerships across Canada.
That’s where we fit in. We specialize in putting your best interest first and aim to provide you with financing as painlessly as possible to bring your recreational dreams to life. At Breeze Financial, our team is built of experts who believe in transparency, honesty and integrity. We are a solution-based company; we recognize that everyone deserves to have fun and make memories in the great outdoors, and we are driven to bring that opportunity to life for others.
Ready to ride?
Whatever your situation, the question isn’t who qualifies for financing, as there are no limitations. The goal is no matter who you are and your credit score, with Breeze Financial, there is a solution for you with the end goal of having you on your dream machine. Don’t hesitate further; apply now and prepare to hit the trails.