Why You Should Finance Fitness Equipment

For homeowners looking to add new fitness equipment to their gym home, or to make a purchase of your first piece of gym equipment the cost can be too big to take on all at once. If you find yourself in this position, you don’t need to forgo purchasing the equipment, rather you can choose from one of our many financing options to provide you with more buying power!

If you are the owner of a commercial gym you need high-quality weight machines, treadmills, exercise bikes, and barbells in order to attract new members to your gym and maintain current clients. That leaves you with the question of whether to rent gym equipment, rent to own workout equipment, or buy gym equipment. 

Below, we’ll look at some of the ways you can approach gym equipment financing whether you are an individual looking to purchase a new piece of fitness equipment or a gym owner.

Financing Gym Equipment

Here’s a closer look at your gym equipment financing options, and how to understand which option will work best for your gym. At Expert Fitness Supply we offer a few different options for financing gym equipment, here are the financing options available to our customers:

Affirm

One of the perks of financing with Affirm is that they don’t charge any late fees or service fees. They also don’t charge a prepayment penalty in the event you want to pay off your loan early, which means if you pay your loan back before your final due date, you only pay the interest that has already accrued.

Affirm offers customers loans of up to $17,500. Purchases of less than $50 require repayment within 30 days. Purchasers have the option to choose from three months, six months, or 12 month repayment periods. 

Even if you’re still building your credit, don’t hesitate to apply for financing with Affirm. There are many factors it considers in addition to your credit score when they review your application, so you may still be approved.  

Keep in mind that your credit score will not be affected when you check your eligibility, even though Affirm performs a soft credit check. If you do decide to complete your purchase with Affirm, your loan and payments may affect your credit score. However, paying on time can help you build a positive credit history and may improve your credit in the long run.

To learn more about financing with Affirm click here.

Klarna

With Klarna you have the option to split your purchase into manageable installments or pay for your order up to 30 days later. You can also spread the cost of your gym equipment purchase into 4 interest-free installments that are charged from your card every 2 weeks. 

When checking out select the option to pay later in 4 interest-free installments and enter your debit or credit card information. The process is as simple as when making any other card purchase.

Once your order is confirmed and shipped Klarna will charge your card for the first quarter amount. We’ll send you a notification once the payment has been processed. Every other week Klarna will automatically charge your card one-fourth of the total amount due until the full order amount has been paid.  You can also choose to pay for your purchase within 30 days.

For larger purchases, Klarna offers 6–36-month financing which allows you to maximize your buying power. If you choose this option you will make the monthly payment online or in the Klarna app using bank transfer or card payments. Klarna will notify when it’s time to make the payment each month.

To learn more about financing with Klarna click here.

QuadPay

With QuadPay you have the option to buy now and pay later by splitting your order into four equal payments that are paid over 6 weeks. To complete your purchase you will link a credit card which QuadPay will automatically charge for each installment. 

To learn more about financing with QuadPay click here.

Contact Us Today to Learn More About Financing

Whether you’re just starting your business or you’ve been running your boutique gym, studio, or franchise for some time now and you don’t have the money on hand to finance your gear we can help you find a way to secure gym equipment finance. Contact us today to learn how we can help.