Your Guide to Financing a Golf Cart
Financing a golf cart is a fantastic way to bring home your preferred model without breaking the bank. But opting for a financing plan can be challenging, especially for first-time buyers. Our experts at Beech Creek Golf Carts have put together this guide to help you familiarize yourself with the financing process. Read on to learn more, and for more information, contact our finance experts at our dealership in Cincinnati, OH.
Plan a Budget
The first thing to do is determine how much you can spend buying a golf cart. New golf vehicles are costlier than pre-owned models, so if you want to stretch your dollar, you might want to get a used golf cart instead of a brand-new model.
Consider the amount you can spend each month towards repaying your loan without making too many financial adjustments. You will also want to include the cost of insurance and accessories into your budget for a more realistic estimation.
Save Up a Down Payment
Next, you will want to save up the down payment for your specific golf cart, which is usually 10-20% of the vehicle’s sticker price. Remember to bring this money with you when visiting the golf cart dealership.
Look Up Your Credit Score
Another essential aspect of golf cart financing is the borrower’s credit score, which can influence your eligibility to get a loan. Make sure you have a high credit score for getting your preferred financing plan. Otherwise, you might need to take the time to raise it higher.
Get Golf Cart Insurance
Finally, you will also want to get golf cart insurance coverage that matches your budget and needs. Many lenders require that you have an insurance policy in place to be eligible to apply for a loan. So, select an insurance plan that suits you.
We hope you find this guide handy when buying your preferred golf vehicle. If you have more questions or need advice about financing your golf cart, visit Beech Creek Golf Carts in Cincinnati, OH. We proudly serve our patrons from Dayton, OH, and Lexington, KY, so stop by today.