How much do you expect to spend?
Unlocking the Benefits of Online Financing
Unmanned aerial vehicles or drones have become increasingly popular not just for recreational use but also for commercial purposes such as monitoring crops or delivering packages. However, drones can be quite expensive, which means that many individuals and businesses need financing to acquire them. Online financing services provide an accessible and affordable solution for obtaining drone financing. Some benefits of online financing services for drones include easy and fast applications, low-interest rates and flexible repayment terms.
The primary advantage of online financing for drones is convenience. Traditional lending institutions, such as banks, typically require lengthy application processes that can take days or even weeks to complete. In contrast, most online financing services have simplified application procedures that take only a few minutes to complete. Also, by working with online lenders, it’s much easier to compare different loan options and pick the one that suits your budget and repayment ability.
Besides convenience, online financing services offer good rates. Typically, online lenders have lower overhead costs than brick and mortar lenders, which they pass on to borrowers through better interest rates. These better interest rates enable borrowers to save more money, especially if they pay off the loan earlier than anticipated. Additionally, many online lenders offer flexible repayment terms, so borrowers can choose repayment periods that match their budget.
What Drones Can You Finance?
Any model that you like, including the following.
- 3DR Solo
- Auto Evo
- Inspire 2
- Matrice 30
- Mavic 2 Pro
- Parrot Anafi
- Parrot Bepop
- Phantom 4
- Typhoon G
- Typhoon H Plus
- Yuneec H520
- Yuneec Tornado H920
Why You Need A Drone
How to Get Your Offer for Drone Financing
Financing drones is not only limited to visiting traditional financial institutions. Prospective buyers can also consider getting their drone financing deal from online lenders. The first step to getting your offer for drone financing is to fill in a free quote form provided by our website. The quote form may require basic information about you or your business, your desired loan amount and the purpose of the drone.
After filling in the quote form, wait for a loan offer from one of the lenders that the online financing service works with.
Once you receive the offer, review it carefully and compare the interest rates and repayment terms to other offers you may have received elsewhere. If you’re comfortable with the terms of the offer, you can accept the loan and receive funding to purchase your drone.
Financing Drones with Bad Credit: How Hard Is It?
For individuals with bad credit or no credit history, obtaining financing for drones can be a tough task. Banks and other traditional lenders are usually strict with their lending criteria and may reject your loan application outright. Even online lenders require borrowers to have a good credit score to qualify for a loan. However, it’s not impossible to get financing for drones with bad credit. You may need to explore alternative lending options, such as peer to peer lending or finding a co-signer who has a good credit score.
One of the downsides of financing drones with bad credit is that you may receive less favorable terms and higher interest rates than someone with a good credit score. You may also be required to put down a down payment to offset the perceived risk to the lender. Even with a co-signer, your loan may not be approved if you or your co-signer have a history of late payments or defaults.
Alternative Ways to Finance Drones
If traditional financing options are not feasible or if the borrower wants more flexibility, there are other ways to finance a drone purchase. One option is to consider crowdfunding platforms, like Kickstarter or GoFundMe, which allow businesses to raise money for their drone project. Crowdfunding can be a great way to not only raise funds but also attract potential customers and create buzz around your drone, as long as you are a business of course.
Another option available to businesses and consumers is to lease the drone instead of financing it outright. Leasing provides a more affordable and flexible option for those who cannot purchase the drone directly. Besides being flexible, leasing may include maintenance, repairs, and replacements, which can be a significant cost advantage over time.
Additionally, some manufacturers offer in-house financing that provides special financing deals for their drones. This financing option may have a lower interest rate than conventional lending options. Some manufacturers may also offer discounted drones if you agree to finance the purchase through their company.