What is a loan for an electric scooter?
A loan for an electric scooter is a finance option that allows you to buy one of the most popular vehicles right now: e-scooters.
When you ride an electric scooter, you can feel the speed and the adrenaline rush! But not everyone can afford to buy one outright, so here at Flexy Finance we offer unsecured personal loans as a means of receiving the funds necessary to pay for an electric scooter, so that you can get the cash you need to buy the scooter you want.
Where can I apply for a loan for an electric scooter?
Here at Flexy Finance we have a simple and secure application form you can fill in to apply for a loan. You only need to enter a few personal details, along with choosing a loan amount & term in order to receive an instant decision.
How much can I borrow?
You can apply for a loan of between £100 and £5,000 that will be repaid over a set period of time.
What are the repayment options for a loan for an electric scooter?
We work with lenders who can offer loans of up to £5,000, allowing repayments to be made between 1 to 60 months.
How do I know if I’m eligible for an electric scooter loan?
You can apply for a loan if you fulfill these conditions:
- You are 18 years of age or older.
- You are a UK resident.
- You have a regular monthly income.
- You have an active bank account in the UK.
What is the interest rate for a loan for an electric scooter?
Currently the representative APR for the lenders we work with is 1013.30%.
Do I need to have a guarantor?
No, we offer loans that do not require you to have a guarantor.
How long will it take for the money to arrive when I’m applying for a loan for an electric scooter?
The majority of lenders are able to deposit the cash direct to your account on the same day you apply, within just 24 hours!
How can I apply for a loan for an electric scooter?
Use our quick and easy online application form. Providing you have all the information at hand, it should take only 5 minutes to complete.
What happens if I find myself unable to make repayments for the loan?
It’s important that you only borrow an amount of money that you can afford to pay back, and that you ensure you always make your repayments on time. If at any point you are having problems with debt, there are a number of resources and services available to help:
What are the advantages of electric scooter loans?
Loans for electric scooters are unsecured. A major benefit of taking out unsecured finance such as this is that your personal property won’t be at risk should you default on repayments at any point.
The process of applying for a loan for an Electric Scooter is quick and simple. Loans like this can be applied for online using your phone, tablet or computer.
Another benefit of taking out a loan for an Electric Scooter is that you can have tailored repayments. When you apply for a loan through our website, you have the option of specifying how long you would like to repay the loan. You can select a period of between 1 to 60 months, with repayments in monthly instalments. The amount you must repay each month is always pre-agreed with the lender upfront, before any cash is exchanged, so there are no costly surprises down the line.
What are the drawbacks of loans for electric scooters?
If you are an applicant with a poor credit history, this will present the lender with a higher-risk investment. As a result, the loan amounts you are offered may be smaller than for applicants with better credit.
A potentially higher interest rate. A personal loan for an electric scooter is a high-risk investment for a direct lender. In order to protect their interests, lenders are able to charge higher interest rates.
Will applying for a loan affect my credit score?
At Flexy Finance, we conduct something called a soft-credit search following your loan application. Soft-credit searches like the one we use are intended to quickly get a general overview of your credit history, so that we can evaluate your suitability for a loan. This can help us in identifying the likelihood of you being approved or rejected for a loan. Soft credit searches like this do not directly affect your credit score.
How can I check my credit score?
There are numerous services available online for you to use to check your own credit score. Experian, Credit Karma and Equifax all provide credit score checking services for consumers.
Can I apply for a loan for an electric Scooter if I’m struggling with debt?
If you are already struggling with long-standing or crippling debt, then it is advised not to take out another additional line of credit. Remember that with any loan you take out, it is likely you will be charged a late fee or have your interest rate increased if you happen to default on your repayments. Instead, it’s a good idea to speak to Citizens Advice for help with any money problems you may be suffering from.
What is APR?
APR means ‘annual percentage rate’. It’s the cost of borrowing money over a year, including the interest and fees. A representative interest rate means that 51% of those applying will receive the same rate advertised or a lower rate.
For example, the representative rate Flexy Finance offers is 1013.30%. That means 51% of customers will receive that rate or a lower one. It is not guaranteed that customers will receive the same representative APR in their loan agreement.
It is possible for a personal rate to be higher, lower, or the same as the representative APR. The amount you can borrow is usually determined by your credit score, how much you want to borrow, and your finances.
Can I still apply for a loan with Flexy Finance if I don’t live in the UK?
Unfortunately, we only serve customers who live in the UK.
Why choose Flexy Finance for a loan for an Electric Scooter?
At Flexy Finance we offer:
- Applications for loans between £100 to £5,000
- All credit histories considered
- No hidden fees
- No paperwork, just one simple online form
- Instant cash loans, 24/7, same day*
- Private & safe, 256-bit data encryption
- We offer 100% free no-obligation quote