How to Finance a Golf Cart

Financing a golf cart is a great way to get your hands on your new vehicle fast! However, golf cart financing is a little different than getting a loan for a car or house, and unfortunately can be much more difficult to qualify for. To ensure you get the loan you need for your new golf cart, make sure to read over our helpful golf cart financing guide below.

Prep 

Before you can begin applying for financing, you’ll need to take a little time to prepare your finances for your upcoming purchase. To start, you’ll need to begin saving up for a down payment on your golf cart—something your loan won’t cover—which typically comes out to about 15 to 20 percent of the model's price. To ensure you have enough cash in hand, we recommend browsing local dealerships to see which models catch your eye, and seeing how much they cost on average. 

While you’re working on saving up, don’t forget to raise your credit score at the same time. A good score will not only help you qualify for golf cart financing but will also provide you with much better loan opportunities than you may have expected. To raise your score, avoid opening or closing lines of credit, and remember to pay credit card bills on time. Using your credit card regularly will also help improve your score, but do your best to keep your monthly bill low. 

Set a Budget

Before you choose a golf cart off the lot, you’ll first need to set a budget for your new vehicle. To ensure you’re not overspending on your new cart—or falling into serious debt—you’ll need to subtract your monthly income and expenses from each other to see what you can afford toward monthly loan payments. This number multiplied by 12 is typically how much you can afford in total for a golf cart.  However, we recommend using a handy financing calculator while setting up your budget to help account for variables like term length and interest rates. 

Looking for quick and convenient golf cart financing near Charleston, South Carolina? Look no further than our locations here in Moncks Corner and Summerville, South Carolina! To ensure you have no trouble getting your hands on the golf cart you’ve been dreaming of, we here at TruCarts offer quick and easy online financing options, as well as an assortment of new and used golf carts for you to browse through.