Financing a Polaris Razor: Your Guide to ATV Loans

A Polaris Razor is an adult all-terrain vehicle that is used for racing, pleasure riding and working. This type of ATV is sold with a title and makes financing one much like an automobile. Loans for personal property require collateral, which in this case is the Polaris Razor. Additionally, these types of loans generally have a higher interest rate than the loans for real property. So, it is important to shop around and find the best deal.

Step 1

Check your credit report for discrepancies or errors. Visit Annual Credit Report (see Resources) and receive a free copy. Make sure your credit report is accurate, since financing a Polaris Razor requires strong credit.

Step 2

Visit your local Polaris dealer if you are purchasing a new ATV. The dealership provides financing options for the Razor. Review the terms along with the interest rate before accepting the financing from the dealer.

Step 3

Compare other rates and terms with various lenders. Visit your local bank branch or credit union and request financing for a Polaris Razor. Also, consider a lender that provides loans for personal property.

Step 4

Complete an application with the lender that provides the best financing options for the Polaris ATV. Include your personal information along with the information regarding the Razor, such as vehicle identification number and the year of production.

Step 5

Sign the loan agreement to obtain financing upon approval. Surrender the title to the Polaris Razor as the collateral for the loan.

Tip

If you locate an issue within your credit report, such as an incorrect loan amount, contact the reporting agency (TransUnion, Equifax or Experian) to settle the issue before applying for a loan.

When financing a Polaris Razor, consider the length of the loan as well as the interest rate. This affects your payment amount.

Things You'll Need

• Credit report

• Application