Many people forgo buying fitness equipment because they don’t have the large lump sum of cash to afford it. Some people save up before they can purchase just one piece of equipment to incorporate into their home gym. While this is fine, it’s often easier to finance your new equipment rather than waiting for months to access it. These three easy steps detail how to find and finance your new equipment the right way.
Find a Location that Finances
Few companies offer financing options for exercise equipment, but they do exist. Your first step is to find a company that does. Depending on where you’re located, you may struggle with finding a localized company with good local support. Try Push Pedal Pull if this happens to you--we offer financing at more than 15 locations throughout the central United States. To get started, just select the nearest city and start the application process.
Fill Out the Application
When filling out the application for financing, it’s important to be honest and forthright about your situation. Enter all pertinent information, including your name, contact details, purchase price of the equipment you desire, employer, and net annual income. Based on the information you provide, your chosen financial company will make a decision regarding your application and determine if you qualify.
Finance Your Equipment
After you get approval confirmation, you are ready to finance your equipment. Most companies decide on whether to grant your financing based on your credit score, so those with poor credit may need a cosigner.
If you are approved, it’s important to put a plan into place for paying off your new gear. Be sure that you understand when payments come out and where they’re set up to withdraw from. Don’t forget to consider the finance charge and any potential interest fees, if applicable. As long as you pay the predetermined monthly amount, you will have it taken care of in no time.
Once you pay off your first piece of equipment you can re-finance a new piece of equipment. Build your collection over time and get to know each machine as you pay it off. Your fit status will improve right alongside your credit provided that there aren’t any missed payments along the way. Need help deciding what machines are best? Contact Push Pedal Pull today for advice.