Start with these helpful steps
If you want to get your first snowmobile—or upgrade to a newer model—and your credit isn’t ideal, can you still get financing? And just as important: should you finance? It might be best to plan and save first. Whether you want new or used snowmobile financing, we offer smart, sensible ways to help guide you in what’s best for getting what you want, while still keeping your finances in check.
Know Your Options
We recommend that you sit with us first to discuss your options before considering financing solutions. Our Member Representatives can look at your options, and the effects a loan may have on your credit and financial standing.
Determine What You Want to Spend
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Determine the type of snowmobile that will fit the kind of riding you want to do; ask your friends who ride for their help
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Decide if you want a new sled, or are willing to consider a used one
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Do some initial research into pricing—both new and used—for the sled you want
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Include other relevant costs in your total: insurance, typical maintenance and repairs, a trailer, storage, trail fees, clothing and accessories, etc.
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Arrive at a total for your initial costs and ongoing monthly expenses
Evaluate Your Financial Standing
While your First Source representative will help you determine your current financial standing, you can do some of your own research, including checking:
You can check your own credit before an appointment, and we’ll take a look during the loan process. The kinds of factors that can affect your credit standing:
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Have you always (or almost always) made loan payments on time?
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Do you keep your credit within practical limits (avoid over-extending yourself)?
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Do you have a limited number of loans you are currently paying?
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Do you have high balances on any credit cards?
How Much Can You Afford?
Before you apply for financing, look at your household budget for a rough idea of how much you can afford every month. You don’t want to stretch yourself thin so that you can’t make your loan payments for any reason. Consider how much you have left over each month, how much you have saved, and how long you believe you can pay off a loan. We can work with you to determine what you can afford.
Get started with a Snowmobile Loan below.
If you’re not ready to apply for a Snowmobile Loan, and have questions, we are here to help. Call 315-735-8571 to talk about your options or make an appointment with one of our friendly and knowledgeable representatives today.