Tips on Financing a New UTV

While UTVs are incredibly helpful vehicles to have on hand, they also tend to be pretty pricey, and it often takes quite a bit of time to save up for one. If you’re in a rush to get your hands on a UTV fast, financing your purchase is likely the best solution. For tips on how to finance a UTV—and get the best loan possible—be sure to read our helpful guide!

Improve Your Credit Score

To ensure you’re getting the best loan available, we recommend taking some time to improve your credit score before you begin applying with different lenders. If your score is currently below 650 you run the risk of being denied a loan or, at the very least, seeing some very pricey interest rates. To increase your credit score you can simply pay bills and credit card payments on time, and work on reimbursing old debts. If you have debt that’s already been paid but is still appearing on your credit score, consider calling your creditor to ask for a goodwill deletion to help raise your score. 

Consider Loan Type

When applying for UTV financing you may be offered both secured and unsecured loans. If you’re not familiar with these types of loans, you may not realize what you’re getting into. While secured loans may be more affordable and easier to qualify for, they do require your newly purchased UTV as collateral. If you’re confident you won’t ever miss or default on your payments, a secured loan may be the perfect choice. However, don’t want to deal with the stress of a potential repossession, an unsecured loan may be a better fit. 

If you’re located nearby in Schenectady or Albany, New York we want to encourage you to visit us here at Outdoor Motor Sports for all of your powersports needs! Whether you’re looking for a new UTV, affordable financing options, or even a few helpful new accessories or parts, we have what you need at our location here in Amsterdam, New York.