How to Finance a Moped Today

A moped may be an economical way to get around, but financing a moped today may be a bit more involved than financing a car since mopeds are not sold in as many places as cars are. However, with some effort and research, you can get financed on a moped today, especially with a good credit rating.

Instructions

1

Select a local moped dealership that sells a moped you are interested in financing. If you are not able to find any local moped dealerships, check websites, such as the ones listed below for a list of United States moped dealerships.

2

Contact the moped dealership and inquire about financing, asking exactly what information is required to apply for moped financing there. While not every moped dealership will offer financing, most dealerships will offer some financing options for mopeds.

3

Provide the dealership with all requested information. An application for moped financing will typically require your name, address, phone number, social security number, and employment information. This credit check, which takes only minutes in many cases, is a way for the lender to establish your credit-worthiness: Essentially, if you have a positive loan repayment history, then you are a good credit risk and are more likely to secure moped financing.

4

Discuss the moped total cost, the annual percentage rate (APR) and the monthly payments with the lender. Be sure that the amounts are something you feel comfortable paying and that you are not overextending yourself financially.

5

Read and thoroughly review the moped financing contract. Sign the contract only after you are certain about all the costs and fees involved.