Norris Motosports Financing Available for In House Installed Packages.
04-29-2004, 12:18 PM
#1
Norris Motosports Financing Available for In House Installed Packages. Hey All,
As we prepare to move into our larger facility, we have setup up financing for those having in-house installed packages done. We have gotten several inquiries about this in the past and with the new store opening soon, it is a natural. A credit check will be done to verify qualification that should take 10-15 minutes, but there is no minimum and the maximum is dependent upon your credit. Terms of 90 days, 6 months & 12 months will be available at 5% interest and less. Going over the selected terms will result in a substanially higher rate, but can be extended much further as need be.
The 90 day rate will be 1.25% of the final total. The 6 month rate will be 3.25% of the final total and the 12 month rate will be 5% of the final total. When we do our Grand Opening in June/July we will be offering the 90 day rate same as cash. Full payment is needed to be completed by the end of the chosen term, but a minimum monthly payment of 1/30th of the loaned amount is all that is needed till the final term payment.
Though a complete package can be financed, I would suggest having at least 50% to put down on the larger ($3000 and more) orders.
An example for you. A normal $4595 heads/cam basic installed packeg with tuning is $4595. We usually get $2000 down. That leaves $2916.65 to finance with tax. A 90 term adds $36.45 for a total finance of $2935.10. The first two monthly payments can be at $100 (~1/30) and the final payment of $2735.10 is due at 90 days out. If you go over the 90 days selected the rate could go to 18% accrued since day 1. Good incentive to pay it off. This should give everyone an idea how it can work for you. Shipping to and from our store can also be included as well as any other accessories. The amount financed is based on your credit history, not what is being financed.
Hopefully this is something that will you all will be interested in. Thanks and more to come in the future. Feel free to post here for more info, or e-mail and calling can get the info also.
Later
Mike
As we prepare to move into our larger facility, we have setup up financing for those having in-house installed packages done. We have gotten several inquiries about this in the past and with the new store opening soon, it is a natural. A credit check will be done to verify qualification that should take 10-15 minutes, but there is no minimum and the maximum is dependent upon your credit. Terms of 90 days, 6 months & 12 months will be available at 5% interest and less. Going over the selected terms will result in a substanially higher rate, but can be extended much further as need be.
The 90 day rate will be 1.25% of the final total. The 6 month rate will be 3.25% of the final total and the 12 month rate will be 5% of the final total. When we do our Grand Opening in June/July we will be offering the 90 day rate same as cash. Full payment is needed to be completed by the end of the chosen term, but a minimum monthly payment of 1/30th of the loaned amount is all that is needed till the final term payment.
Though a complete package can be financed, I would suggest having at least 50% to put down on the larger ($3000 and more) orders.
An example for you. A normal $4595 heads/cam basic installed packeg with tuning is $4595. We usually get $2000 down. That leaves $2916.65 to finance with tax. A 90 term adds $36.45 for a total finance of $2935.10. The first two monthly payments can be at $100 (~1/30) and the final payment of $2735.10 is due at 90 days out. If you go over the 90 days selected the rate could go to 18% accrued since day 1. Good incentive to pay it off. This should give everyone an idea how it can work for you. Shipping to and from our store can also be included as well as any other accessories. The amount financed is based on your credit history, not what is being financed.
Hopefully this is something that will you all will be interested in. Thanks and more to come in the future. Feel free to post here for more info, or e-mail and calling can get the info also.
Later
Mike
I would like to add Mike Norris knows how to build RELIABLE engines. I never had a problem with my NM 348 shortblock. 