How does financing work

 

Financing procedures

  • With a piece of your Canadian ID(Check Accepted IDs) , you can apply online immediately(Click here)

  • If you get an approval, our financing team will be notified of your application(Please note that your approval is out of our control, such as: interest rate, payment term, approved amount, monthly payment, etc. (Not approved?) If there is no credit available, which means the application is declined. You can start another application with more details, or try again at a later date.)

  • One of our sales associates will contact you and help you to choose the model and finalize your order.

  • You will receive a loan agreement. Please go through the details and sign the loan agreement.

  • After the documents are submit, the financing company will need to review the documents in order to send us the fund.

  • Once we receive the fund from the financing company, we will contact you and schedule the pick-up/ delivery of your bike.



 

Financing Q & A 

Q: -Do I need to have a Canadian ID?

A: -Yes. Unfortunately, only Canadian IDs listed above are accepted by the finance company at the moment.

 

Q:-How long does it take to finance a bike?

A:-The regular processing time for a financing case is 5 – 7 business days. Most of the time, we will prepare the bike while waiting for the funds. Once we receive the funds from the financing company, we will contact you and you will be able to pick up your bike. (The processing time is subject to change.)

 

Q:-How much is the monthly payment if I want to finance a bike?

A:-The monthly payment will be affected by the total loan amount, finance term, interest rate and etc. To find out the monthly payment for a detailed case, you will need to apply for approval first. We will be able to tell you the loan details when you visit our store to sign the loan agreement.

 

Q:-Do I need to pay any down payment?

A:-If you are qualified for a loan amount that can cover the total price of your purchase, you do not need to pay any down payment. However, if the available credit is lower than the total amount of the purchase, you will need to pay the difference directly to us before you pick up your bike.

 

Q:-Is it possible to pay off the loan earlier?

A:-Yes, you can pay off the loan earlier if you want. Please contact the financing company directly for more details.

 

 

For more information, please call us at 1-888-510-3666 or email us at financing@emmo.ca.