Purchasing an ATV or UTV can be a significant investment, often putting a strain on your finances. The price for a quality ATV starts at around $5,000 and can go up to $15,000 or more, depending on the model and features. However, you don’t have to delay your dream purchase because of the upfront cost. If you’re looking to buy an ATV or UTV but don’t want to pay the full amount upfront, there are several ATV financing options available that can make your purchase more manageable. From UTV credit plans to installment options and trade-ins, there are multiple ways to finance your outdoor adventure vehicle without breaking the bank.
Whether you’re interested in an ATV, UTV, or even a dune buggy for sale in Dubai, there are various financing methods that can help you get your hands on the perfect outdoor adventure vehicle.
Financing Your ATV or UTV
One of the most common ways to finance your outdoor vehicle is through installment plans or credit options. With these plans, you may break up the expense of your purchase over a longer period of time, which will ease the strain on your pocketbook. This is how they normally function:
Installment Plans
Installment plans are a popular choice for many buyers. The most common arrangement requires a down payment of at least 50%, with the remaining balance paid off in 12 equal monthly payments. The best part? There’s no interest, so you only pay for the cost of the vehicle itself.
- Example: You choose a $10,000 ATV. You pay $5,000 upfront and the remaining $5,000 over the next 12 months, with no additional charges.
Credit Plans
If you prefer a longer repayment period, UTV credit plans are available. These typically require a smaller down payment, starting from 10%, and allow you to spread the remaining payments over up to 36 months. Interest rates start as low as 6.9% per year, depending on your credit score and the lender’s terms.
- Example: For the same $10,000 ATV, you might pay $1,000 upfront and finance the remaining $9,000 over 36 months, with interest.
Trade-In Options
Another excellent ATV financing option is trading in your old vehicle. Many dealers accept used ATVs and UTVs of any brand as a down payment towards a new model. The dealer will assess your current vehicle’s market value, taking into account wear and tear, and offer you a trade-in discount.
Trade-In Conditions:
- Documentation: You must provide documents proving ownership of the vehicle.
- Condition: Only vehicles in working condition with an engine size of at least 350cc are accepted.
- Requirements: The vehicle must have a readable VIN number, functional seats, handlebars, and a battery.
Trading in your old ATV can significantly reduce the cost of your new purchase, making it an appealing option for many buyers.
Financing for Businesses
For businesses, purchasing an ATV or UTV can be even more advantageous when done through leasing—essentially renting the vehicle with an option to buy at the end of the lease term. Leasing allows you to save up to 40% through tax benefits.
Benefits of Leasing an ATV:
- Down Payment: Starting from as low as 30%.
- No Additional Collateral: The lease itself is often the only collateral required.
- Insurance: Insurance may not be mandatory.
- Flexible Terms: Payment plans can extend up to two years.
- Minimal Documentation: Typically, all that’s needed is basic business information and the director’s ID.
Leasing is a great option for companies looking to expand their fleet without the immediate financial burden of purchasing multiple vehicles outright.
Other Financing and Payment Options
In addition to the standard financing methods, dealers like Sharmax, the UAE based brand, offer innovative solutions like the Tabby payment option. Tabby allows you to divide your purchase into four equal payments with no interest, making it a highly flexible and budget-friendly choice.
- Pros of Tabby:
- No Interest: Spread your payments over time without paying extra.
- Quick Approval: The process is fast, letting you take your vehicle home the same day.
- No Credit Check: Accessible to a wide range of buyers, regardless of credit history.
Tabby is perfect for those who want to manage their finances without the hassle of traditional loans.
Conclusion
Whether you opt for outdoor vehicle loans, UTV purchase financing, or more creative solutions like Tabby, there’s an option out there to suit every buyer. By exploring these ATV financing options, you can find a plan that fits your budget and allows you to enjoy the great outdoors without delay. Whether through a traditional credit plan, a trade-in, or a flexible payment option, financing your ATV or UTV has never been easier.
