Tips on Financing a Golf Cart

Many golf courses offer a fleet of well-serviced carts and include them in your green fee. But if you’re playing on an unfamiliar course, you might not be able to count on a reliable cart for your outing. Many golfers are now choosing to purchase a cart of their own, and our team at Revel 42 Golf Carts & Powersports is here to help. Here are a few easy-to-follow tips that will help you make an informed decision. For more information, visit our locations in Raleigh and Wilmington, North Carolina, serving Clayton and Cary, North Carolina.

Choose to Buy New or Pre-Owned

Everyone enjoys that “new car smell,” but you should understand knows a brand new vehicle decreases in value almost as soon as you drive it off the lot. The same is true when it comes to golf carts. Purchasing a brand new cart is the best way to make sure that you get the right model with all the features that you want. However, you'll likely require more financing. You may find some great bargains on a pre-owned cart with a little patience. If you are pretty handy and don’t mind twisting a wrench from time to time, buying a pre-owned cart can save you a small fortune. But if you want a reliable cart that’s ready to use right away, the extra money you spend on a new cart is a smart investment.

Choose the Right Financing Terms

Financing a golf cart is exactly the same process as financing a car. You’ll need to choose the length of the loan and your monthly payments. If you have some rough spots in your credit, you might find a better interest rate by shopping around for lenders. Just be sure that the dealership doesn’t run credit inquiries without your knowledge. An eager salesperson will do just about anything to help you secure financing, but excessive credit inquiries can adversely affect your credit score.

If you want to make a lower monthly payment, try to pay as much up front as you can afford to offset the principal. It might be tempting to agree to a longer term for a lower payment, but servicing the additional interest will cost you a lot more in the long run.

Invest in Insurance

No one likes paying insurance premiums, but a lot can happen. Insurance protects you from most out-of-pocket expenses in an accident or in the event of theft. Regarding financing, insurance is also typically required by lenders while you are still making payments.

For more information on golf cart financing, visit our locations in Raleigh and Wilmington, North Carolina, serving Clayton and Cary, North Carolina.