All-terrain vehicles are popular amongst many Americans for various reasons. Whether you fancy quadding over the mountains, or off-road racing with your friends, then an ATV may be an option for you.
But unfortunately, just like regular vehicles, ATV's can be expensive. Although they are generally cheaper than standard automobiles, you may have difficulty affording a decent ATV – especially if you're expected to pay in one lump sum.
Many people decide to rent ATV's – but there's nothing quite like having your own to ride come rain or shine. The good news is that there are some decent ATV loans out there you could apply for, meaning you'll be able to afford your model of choice and experience years of off-roading fun.
If you have your heart set on an ATV, and want a way you can finance it, then keep reading to find out more about what options are available to you. You can also check out this helpful article over at crediful.com.
How Much Will an ATV Set Me Back?
If you've ever purchased a vehicle before, then you'll know that it can be super expensive. It's not just the cost of your vehicle you have to worry about – there's accessories, insurance, and other costs.
Just like regular cars, the cost of ATV's can vary massively, so there's no clear ballpark figure on how much an ATV will cost. It depends on all kinds of things – the brand, the model, the features, the size, and the speed limits.
It's the general rule of thumb that the higher the ATV's maximum speed, the more expensive it's going to be. To give you some insight as to how much an all-terrain vehicle will cost you in 2020, we've compiled a list of models available and the costs.
- Crew 750 UTV Utility Vehicle 4×4 = $12,499.95
- Apollo Sniper 125cc = $1069.95
- 700cc 2 Speed 4×4 Fully Automatic ATV = $7,299.95
- Monster X 550cc ATV 4 by 4 = $4,979.95
- TaoTao 250 Rhino Adult Utility ATV Blue = $1,669.95
As you can see, the cost of ATV's can range from less than $1000 to over $10,000. Don't let the high figures put you off, as we're about to discuss what financing options there are to help you afford the ATV of your dreams.
Personal loans are a popular choice amongst many for various reasons – the main one being the more affordable interest rates.
If your credit score is high, and you have a decent credit history, there's a high chance you'll get a quality personal loan. The better your credit score, the lower the APR will be and generally, the more you'll be able to borrow. You can shop around various different personal loan companies, and find the best one for you with the click of a button.
With most loan companies, you'll be able to borrow anything up to $35,000 – which is more than enough for a high-quality ATV. It's a structured process with fixed monthly payments, meaning you can pay the loan back bit by bit every month.
If you do happen to miss payments, there will be consequences – but you don't need to worry about your ATV getting repossessed, as personal loans are unsecured.
When you're browsing for ATV's, you'll notice that many ATV dealers offer finance options. It's always good to browse the web regularly before committing to an ATV, because you'll probably find that one or more retailers have special offers regarding finance options.
Be sure to check the APR before you commit, as sometimes with retailer financing, the interest rates offered can be pretty high – and even grow with time. It's generally down to the retailer how much the interest rate will be, so be extra wary before you proceed.
Down payments are often required when applying for retailer financing, so this is something you should always look out for. Many retailers may offer you 0% APR for the first few months, which is perfect if you're on a budget.
If you do miss any payments, then it's important to know that your ATV will most likely be used as collateral against the loan, so if you don't mind that, then retailer financing may be the option for you.