Your Drone Loan
What You Need To Know
Before entering any financial transaction, you need to educate yourself. So, before you jump right into that drone financing contract, take a minute and learn how it all works. It will take about five minutes to get through this information but it will be well worth your time.
Getting An Offer
First, let’s look at how you will be getting that loan offer. You should know straight off that Loan Monkey is not a direct lender. We instead give you access to a lending network that may be able to make you an offer even if you have bad credit. The lenders in this network are used to dealing with less than perfect credit which is why accessing this network may make it easier to get an offer.
So, now how do you get this offer. It is easy, just go to the form at the top of the page and it will walk you through the process.
- First, you need to enter your information in the quote form above. The form is short and sweet and it walks you through all of the steps, one by one.
- Next, you submit your information and wait for an offer. It takes just a few minutes to get your offer, so you should not have to wait long.
- If you get an offer, you now just need to review it. You will be directed to the website of the lender making the offer to do so. Take a look at all of the details and make sure that you agree to the cost of the loan and that the payments are reasonable.
- Finally, if all went well and you like the offer, you can accept the money. Your lender will then deposit the money directly into your account, as soon as the next business day. You can then go purchase your drone as a cash buyer.
That is all that it takes to get an offer on drone financing with bad credit. Hopefully all goes well and you can begin shopping right away.
Being A Cash Buyer
The great thing about getting a loan offer through the loan network is that you will be a cash buyer. This gives you a lot of benefits.
The chief benefit to shopping with cash is that you are not limited to one store. If you have store credit, you are limited to shopping at a single store and worse yet, the salesman will know it. If you can only buy at one place, it is harder to negotiate a price. If you want to get a discount off of full retail price, cash is king.
In addition, you are not limited to the drone models on hand. You can get exactly the model that you want with the capabilities that you need.
Another benefit to shopping with cash is the ability to buy a used drone. Save hundreds of dollars by going with a used model that someone else has simply lost interest in. Buying used can also allow you to buy a model that is a step or two above what you could have otherwise afforded. Get a top of the line drone such as a DJI Mavic Pro that you might not have otherwise been able to pull off.
Paying For That Drone Loan
If you decided to accept a loan, you need to give some though to how you are going to pay for it. Write up a budget and insert that loans monthly payment. If it fits easily with money to spare, you are all good to go. If not, you need to make some adjustments.
Make Some Budget Cuts
The easiest way to fit your drone loan payment into your monthly budget is to make some cuts. There are a lot of areas in the average budget where you can find savings. Lower your cable and satellite subscription level or cut it out entirely in favor of streaming services. Start taking your lunch to work a few days a week and even cut out those cups of gourmet coffee.
Add Some Income
Another way to make a loan payment is to add a little bit of extra income. Just adding a few hours a week can probably make your payment. Driving for Uber alone for a few hours a week can net you 400 dollars or more in a single month.
If shuttling people around is not your style, there is plenty of retail work to be had with shifts at all hours of the day. Walmart is a great place to start with pay beginning at more than $13 an hour and a huge variety of shifts.
Even in a bad economy, there are a lot of ways to make some extra money. Pick up a shift at a box store stocking, run a register for a few hours or fill orders at a local warehouse.
If it looks like you can not afford that loan payment after reviewing your budget, you need to make the hard but responsible choice. You need to do without. Unless you are using it for business, a drone is a luxury item that you can live without.
It is in the same category as a dirt bike or video game system. The are cool to have but you can live without them. You should never sacrifice your financial health for a luxury. Nobody ever said being an adult was easy.