FAQ
affordable dirt car financing
Why would anyone finance a racecar or a race engine?
– I don’t know why would anyone finance a washer/dryer, 4 wheeler, lawn mower, or make 6 simple payments of $34.99 on a ninja blender? The truth is not everyone can come up with the cash money it takes to have some of the best equipment out there. Those same people most likely have good credit and could put a reasonable amount down and afford a comfortable monthly payment.
What happens if on the first race of the season I put the car in the wall on the first turn and its junk?
– The first thing you are going to do is make sure your moving parts on your body still work, be grateful your alive, act tough in front of your buddies, put the car on the trailer, and then you’re going to go home, sit down, have a beer and have yourself a good cry over your wrecked car. Are you still going to have a payment? YES! Are you still obligated to pay the loan? YES! The most likely situation is you’re going to call your chassis builder and tell him you need to get your car back on the jig and straightened out so you can go back and race again. If you’re worried about crashing a race car, do yourself a favor and go sit in the stands it’s where you belong.
What happens if on the first race of the season the motor you financed blows up?
– The short answer is you’re an idiot. How many crate motors do you know blow up on the first night out? Or even the first season? Let’s get realistic here. If you are asking this question its most likely because you’ve over paid for a builder open motor and it got toasted the 5th night of the season. Drivedirtcars.com only finances the highest quality crate motors with the absolute best bolt on parts. Each of the motors comes to you with Dyno sheet, Flow sheet, & has been broken in. If you take this motor and run it at the legal limits allowed by your sanctioning body the motor will last long past the loan terms. If you don’t take care of it, rev it past the specified rpms allowed, and don’t set the valves well you get what you deserve. Yes, you would still have a payment if you blow it up because you don’t know what you’re doing. If you are that worried about it spend the extra monies and by the 1 season complete warranty for the motor.
What happens if you finance a car, sell it and do not pay off the loan?
– I’m going to find you, give you a throat punch, tell you how stupid you are and then ask you for the remaining amount. All joking aside our clients are smarter than this question. We are looking for repeat customers that understand the program. Each of our clients are individually credit screened to make sure they aren’t dumb enough to do something like this. Hopefully if they needed to get rid of the engine or car we would find them a buyer. Also is it really worth completely ruining your hard earned credit over a race car or motor?
Can I pay the loan off whenever I want to?
– You sure as heck can! There are no early penalty fees at all. If you decide one day that you no longer wish to have a payment then I suggest you make that check out and be free and clear!
Do I need perfect credit to qualify?
– Absolutely not! We know that not everyone is perfect. Our credit scoring and approval system is based on a lot of factors. We look at your debt to income, credit score, past payment history, and several other factors. We know that if you have a 600+ credit score the chances of getting approved are much greater!
Does someone need collateral to get into this program?
– They surely do not need collateral. We only need the required down payment from each one of the packages and credit approval to get started!
How do the payments work?
– Most of the payments are about 3% of the loan balance. The interest rate is 17.99%. What do you expect it’s a racing loan! It’s higher than a mortgage interest and lower than a credit card. The payments all will be ACH (auto withdrawn) from a checking account.