As the technology advances, high-quality and reliable electric scooters become more sought-after. But their price tag can sometimes make your eyes pop. The good news? Even when you don't have the funds at the ready, financing your dream electric scooter has never been easier. And even if you do, those payment plans may be the better alternative to shelling out the full whack all at once.
What are the best ways to finance an electric scooter?
Companies are rolling out various options designed to make electric scooter ownership accessible to everyone. These are some of the most popular ones:
1. Bank and Non-Banking Financial Company (NBFC) Loans:
Pros: Often offer competitive interest rates and flexible repayment terms.
Cons: You may need a credit check and down payment.
Example: If you have good credit, you could secure a low-interest loan and spread the cost of your electric scooter over several years in manageable monthly installments.
2. Buy Now, Pay Later (BNPL) services:
Pros: Convenient way to split payments, often with 0% interest for a promotional period.
Cons: Can lead to overspending if not used responsibly; may incur high-interest rates after the promotional period ends.
Example: With Klarna or Katapult, you could purchase an electric scooter and split the payment into four interest-free installments, making it more budget-friendly.
3. Rent-to-Own plans:
Pros: Accessible for those with poor credit scores; allows you to try the scooter before committing to ownership.
Cons: Can be more expensive overall due to higher fees and interest rates.
Example: If you're unsure about which model is right for you, a rent-to-own plan allows you to test out different scooters and eventually own the one you love.
4. Cryptocurrency payment options:
Pros: Innovative payment method for tech-savvy buyers; potential for price appreciation if the cryptocurrency's value increases.
Cons: Volatility of cryptocurrency values can be risky; limited acceptance by retailers.
Example: If you own Bitcoin and believe its value will rise, you could use it to purchase your scooter, potentially saving money in the long run.
5. Manufacturer and third-party financing:
Pros: Often tailored specifically for e-scooter purchases; may offer promotional rates or incentives.
Cons: Options and terms can vary depending on the provider.
Example: Apollo Scooters partners with Affirm, offering customers a simple way to finance their purchase with a flexible repayment schedule and without any hidden fees.
6. Leasing options:
Pros: Lower monthly payments compared to purchasing; ideal for those who want to upgrade their scooter regularly.
Cons: You don't own the scooter at the end of the lease term; mileage restrictions may apply.
Example: A business could lease a fleet of Apollo Explore scooters for employee use, benefiting from lower upfront costs and the ability to replace the scooters with newer models as technology evolves.
Apollo Scooters financing options
Apollo Scooters is committed to making your dream ride a reality, no matter your budget. We offer a variety of flexible financing options through our trusted partners to help you hit the streets with your new scooter sooner:
Affirm (Canada & USA)
Enjoy transparent and customizable payment plans, including 0% APR options, bi-weekly or monthly payments, and terms ranging from 3 to 36 months. Check your eligibility with a soft credit check that won't impact your score.
Katapult (USA only)
This lease-to-own option is ideal for those with less-than-perfect credit. With affordable monthly payments, you can build ownership over time and enjoy early buyout options.
What payment methods do we accept?
We accept all the following regular payment methods:
- Visa credit/debit
- Mastercard credit/debit
- American Express credit/debit
- Discover (USA only)
- Google Pay
- Shop Pay
For more information, you can always contact our customer service team or shop with our expert here.
Wrapping up
If you wish to own an Apollo electric scooter, it's worth checking out our financing option, as it may be easier than you think to get the scooter of your dreams without breaking the bank.
