Financing a powersports purchase can be complex, but Owen Motor Sports in Effingham is committed to helping you through every step. From understanding interest rates to reviewing our financing offers, our experts are here to provide clarity. Below, you'll find that many of the most common questions we receive about powersports financing have been answered by our team of experts, led by Jarrod Moran, General Manager. After you read what Jarrod and his team have to say, visit our showroom and buy the new powersports toy you've been wishing for! Shop Inventory Comprehensive Powersports Financing Information What are the current interest rates to buy a powersports vehicle? Interest rates for powersports loans fluctuate based on the market, credit history and other personal factors. At Owen Motor Sports, we work with various lenders to offer competitive rates. Contacting our finance team can give you a clear picture of current rates and how they apply to your circumstances. How do I get a good interest rate? Securing a good interest rate often involves maintaining a high credit score. This can be achieved by consistently paying bills on time and reducing any debts. Additionally, a larger down payment or opting for a shorter loan term can result in more favorable rates. How much of a down payment do I need to finance a powersports vehicle? Typically, a down payment of 10% to 20% is advisable when purchasing a powersports vehicle. A significant down payment can reduce monthly payments and potentially lower your interest rate. Not sure how much of a down payment you can afford? We're here to help tailor a plan that fits your financial situation. Does my credit score impact my loan rate? Yes, your credit score is a major factor in determining your loan rate. Higher scores typically qualify for lower rates. If you have concerns about your credit score, our finance team can present options that might work for you. I have a low credit score -- can I still finance a powersports vehicle? Financing can still be an option with a low credit score. We have relationships with lenders who specialize in less-than-perfect credit, so don't feel that you can't buy a side-by-side or ATV just because of your credit history -- we'll take care of you. What if I don’t have a credit history yet? Can I still get financing? Even without a credit history, you may still have options. Getting a cosigner with good credit or making a larger down payment are two proven ways that can help you qualify for powersports financing even if you don't have any prior credit history. What’s the best length for a powersports loan? The ideal loan term balances manageable monthly payments and overall interest costs. Shorter terms mean higher monthly payments but less interest, whereas longer terms have lower payments but result in more interest over time. Consult with our team to find a comfortable and cost-effective solution. Can you offer a better interest rate than my pre-approved rate? At Owen Motor Sports, we work to match or even beat pre-approved rates through our extensive network of lenders. We want you to get the best loan rate possible, so apply for financing with us today! Can I sell my powersports vehicle while I’m still paying it off? Yes, but you'll have to pay off the remaining balance of the loan. The sale price should cover the outstanding loan amount, or you’ll need to cover the difference to clear the title. Luckily, we offer top-dollar trade-in values on used powersports models, including motorcycles and ATVs. If you need to sell or want to trade up but still owe money on your loan, we can help. What are the benefits of financing at the dealership vs. with a local lender or credit union? Financing directly with us often results in greater convenience, quicker approval times and access to exclusive promotional rates. We can also handle all the paperwork, saving you further time and effort. Apply for Powersports Financing Near Me A seamless powersports financing experience awaits at Owens Motor Sports. Whether you have questions about interest rates, loan terms or trade-ins, our experienced finance team is ready to assist. Visit or contact us today to work directly with Jarrod and his team and see how easy it is to get a powersports loan! Read More Our Brands Our Inventory Our Promise Shop Inventory Contact Us Financing Options