Interested in kayak financing options? You might have more possible choices than you think, even if you have less than perfect credit. Let’s take a look at a few of the options and find one that fits your needs the best.
1) Kayak Loans
This is by far the easiest option and we would be more than happy to help you get a kayak loan quote. If approved, you could be shopping for your kayak with cash, at any dealer (local or online).
Here is how it works.
First, you visit the link above and fill in the quote form. Enter in how much you expect to need and then some basic information about yourself and your income. Next, enter where you want the money sent, because if approved, your lender will send money directly to you.
Once you have completed the form, agree to the terms and submit. Then just wait for your answer. If approved, one lender will make you an offer and they will send money directly to your account. You then get to shop for a kayak just like any other cash buyer, it is just that easy.
The obvious advantage to getting a loan online here is that you get to shop like a cash buyer. That means that you can shop at any store that you like, you are not stuck with one retailer. This allows you to get the exact model that you want and price shop to get the best deal.
2) Store Credit
Another option for kayak financing, if you have good credit, is store credit.
Most large retailers offer some sort of store credit to their customers. In most cases, this is using an outside finance company, but some stores offer their own financing. Store credit can be difficult to get but if you qualify, there are a few definite perks.
The biggest perk is that you may be able to qualify for a special interest rate. It could be an introductory period with low interest or even a zero interest term. Be careful with these deals though, because interest usually still accrues. If you do not pay off your purchase in time, they may charge the interest back to you
3) Credit Card
One final option to consider is a credit card. If you have a decent credit score, you might be able to qualify for a credit card to make your purchase. If you have a good score, you might even be able to get a rewards card or one that pays you cash back.
The good thing about using a credit card to finance your kayak is that you can shop wherever you like, just as you could with a cash loan. That would allow you to get the exact kayak that you want and you won’t be limited to what just one store has. Want a Hobie kayak, not many stores carry them. A credit card can let you get one.
Should You Choose Kayak Financing?
Now that you can see your basic kayak financing options let’s talk about whether you should or should not finance a kayak.
Financing will almost always carry with it fees and/or interest. The fees and interest are potentially high if you have bad credit, so take that into account. Before you accept a financing offer, ask yourself a few things.
- Is the price too high?
Compare the total cost of financing against the amount being borrowed. Is the cost of the loan too high or are you willing to accept the cost?
- Can you afford the payment?
Be 100 percent sure that you can accept a payment before you sign for a loan. Do not just assume that you will be able to make things work when the first payment comes due.
- Is there a better option?
Can you get the money another way like borrowing from a relative or selling some property? If you can find a free way to make your kayak happen, you should surely consider it.
Once you have asked yourself all of these questions, you can make a decision as an educated consumer. Thanks for listening and we will see you on the water.