Get Your Offer
Benefit Of An Installment Loan
The great thing an installment loan with golf cart financing, bad credit can be overcome and it gives you a lot of choices. This is not dealership credit. That means that you have the ability to shop anywhere. If approved and if you accept a loan, you will have cash money sent to your account. This allows you to walk into any dealer as a cash buyer, with all of the benefits that this entails.
In addition, you can also look into the used market. Save thousands on a lightly used golf cart instead of taking the depreciation yourself on a brand new one.
Getting Your Golf Cart Loan Offer
At Loan Monkey, we try to make things easy for you. That is why we give you online access to an extensive network of lenders, most of whom are familiar with working with less than perfect credit. Here is how the process works.
First, you will fill out the short quote form at the top of the page. It will only ask for a bit of information like your name, address and how you get your income. You will need to also enter your banking information because, if you accept an offer, this is how your lender will get the money to you so that you can purchase your golf cart.
Next, you will submit the form to the network, after agreeing to the terms of service. This is where you see the difference between a loan network and an individual direct lender. When a direct lender says no, it is all over. When a lender in a network says no, your form just goes to the next lender. This repeats until one is found that wants to make you an offer.
When a lender decides to make you an offer, they will either direct you to their website or send you the loan offer. This is where you should slow things down and decide if the loan is the right fit for you and if the cost of credit is worth it. This is particularly true with something like a golf cart. Make sure that you can live with the terms. If you like everything, you can accept your loan.
If you accept your offer, your lender will go to work trying to get you the loan money ASAP. This could be as soon as the next business day.
Deciding On Your Offer
When you have your offer, before you accept it, you need to decide if it is really a good decision to take it on.
Unless you are joining the tour, a golf cart is not necessarily a must have item. Your kids are not going to starve and you will probably be able to get to work without one. Unless of course you want to start driving a golf car to work, who knows.
Because this is something of of a luxury item, you need to pay real close attention to the cost of credit. This is how much the loan will cost, including fees if you carry it to term. Because it is a bad credit loan, the cost will probably be high.
If, after looking at the loan terms, you find the costs reasonable, accept the loan. If not, simply turn it down and walk away.
You would be doing yourself an injustice if you did not consider the alternatives to a golf cart loan, especially a bad credit one. Here are some more choices.
Save The Money
Not the most attractive offer but a financially strong one. A used golf cart will go for between 2000 dollars and 5000 dollars which is 50% or greater off of the new retail price. Golf cart depreciation is pretty significant.
It might not even take you that long to save the money you need. If you can save 300 dollars a month, you can have the money you need in as little as 7 months. Manage to save 600 dollars a month and you can be in your cart in just over a 3 month period.
Lease Your Cart
You can always lease a cart instead of purchasing. Credit might still be a bit of an issue but the payment could be less than that of a purchase if you qualify. In addition, you might be able to get away with no down payment and you can upgrade carts every few years. This means you will always be in a new model cart with less maintenance. It could be an option worth pursuing.
Common Golf Cart Loan Questions
At this pint, you might still have some questions about getting a loan for a golf cart. Here are some of the most commonly asked of those questions. Not finding your answer? Contact Us.
- Can I get No Credit Check financing?
For something as expensive as a golf cart, you are going to be hard pressed to find a lender offering a no credit check loan. That being said, you still might be able to qualify, even with bad credit. In any case, it is free to get a quote.
- How much will my loan payment be?
At Loan Monkey, we are not lenders and we do not make credit decisions. The loan payment will be determined by your lender and should take into account how much you are borrowing, the term of the loan and your qualifications.
- Where can I buy my golf cart?
The beauty of getting a loan with one of our online lenders is that you can buy your golf cart anywhere. If you accept a loan, you will be paid in cash and can shop with any retailer and get the exact model that you are looking for. If you like, you can even look to the used market
- How do I choose the right golf cart?
We are certainly not golf cart experts. We can help you get the money, but making the pick is all up to you. Here is a video to help you decide.