Financing a EUC?

[Donut Keeper]

With the ever-increasing cost of EUCs and their technology; leads to EUCs becoming more expensive. Now they are just about in the same pricing category as mopeds and smaller motorcycles.  It's not too uncommon for someone to finance a moped or motorcycle, is it also common to finance a new EUC? I know many retailers offer it as an option. Do people have that kind of cash lying around to drop on a wheel?

What was your method of purchasing your EUC?

Edited May 24 by Donut Keeper

[Robse]

21 minutes ago, Donut Keeper said:

With the ever-increasing cost of EUCs and their technology; leads to EUCs becoming more expensive. Now they are just about in the same pricing category as mopeds and smaller motorcycles.  It's not too uncommon for someone to finance a moped or motorcycle, is it also common to finance a new EUC? I know many retailers offer it as an option. Do people have that kind of cash lying around to drop on a wheel?

What was your method of purchasing your EUC?

It is usually the case that the company / bank granting the loan must have security
in something, which is typically the vehicle that you borrow money to buy.
This is how lending normally works.  if you don't pay, the lender can take your
vehicle as they have a lien on it.

You can never borrow more than the vehicle is worth, and you also usually have to
make a down payment, typically 20% of the price.

And then comes the exciting part;  How many lenders will lend money with security
in an object that is neither type-approved, and in many places not legal to ride,
or at all legal for what it is used for, which cannot be insured and which can be
reduced to the value of zero at the first small crash or fire...

 

[Poker]

I buy everything cash, I'm not rich or anything but I have had bad experience with debt and I want to avoid it as much as I can for the rest of my life.

 

I have friends that do finance or down payments on many things cheaper than a EUC like phones, computer hardware or maybe a TV.

If you stay on top of it it can be a great deal but if you ever miss a payment they will come and harvest your organs... Slight exaggeration but its a massive industry and they make their money of people that fail.

Edited May 25 by Poker

[Hellkitten]

A local PEV company (Ontario Canada) do a monthly payment option if you want to buy that way. I paid cash last two wheels I’ve bought. Like the above poster I avoid debt like the plague. 

[Cerbera]

Yep, I too am of the old school 'save the money first THEN buy it' approach, but it's easy to see why that might not be so easy now these things don't cost £500 like they used to - we'll be heading for machines that cost 10X that and more soon, and when it starts getting to that level I guess a lot more people will be looking for credit.

All of the places I have bought EUCs from have offered monthly payments if I needed them, some of those interest-free, but again, woe betide you if you ever miss one.

I have always thought that at least if you buy it outright and then something awful happens like a write-off style crash or it gets confiscated, then you can kinda draw a line under it and move on, but if that happens, and you STILL have to make monthly payments for another 2 years on the wheel you now can't ride I imagine that is particularly galling...

 

Edited May 25 by Cerbera

[Aztek]

8 hours ago, Donut Keeper said:

the same pricing category as mopeds and smaller motorcycles

The newest/biggest/best EUCs are actually up to twice more expensive...
 

It's a toy. The EUCs do not have the attributes or the quality of a serious vehicle. Not by far. So, as every expensive toy, buying it on credit is a bad idea.

Edited May 25 by Aztek

[Punxatawneyjoe]

1 hour ago, Aztek said:

The EUCs do not have the attributes or the quality of a serious vehicle.

Battery management, water proofing,regenerative breaking,reliable transportation just to name a few, id say EUC has all the earmarks of a "serious vehicle"

what more does your car,motorcycle,bike have?

[davewood1982]

Iv used finance to buy all 3 of my eucs separately through paypal throughout the years, Usually i make a point to save about half of the cost to make a down payment and just pay the rest in installments and obviously i wouldn't  get another wheel until iv payed it off.

[Funky]

6 hours ago, Aztek said:

The newest/biggest/best EUCs are actually up to twice more expensive...
 

It's a toy. The EUCs do not have the attributes or the quality of a serious vehicle. Not by far. So, as every expensive toy, buying it on credit is a bad idea.

5 hours ago, Punxatawneyjoe said:

Battery management, water proofing,regenerative breaking,reliable transportation just to name a few, id say EUC has all the earmarks of a "serious vehicle"

what more does your car,motorcycle,bike have?

Both.. It is toy and same time not a toy..

Yes it does everything a car/motorcycle/bike does. But it won't ever be as reliable as one of them. Simply for one fact, that if something goes wrong and it stops working mid ride - user gets launched.. So no, it never will be a reliable/serious vehicle. It can go even 100kph and still count as toy in some eyes.

I personally don't care if it's a toy, or not. It does what i need - I'm happy.

Edited May 25 by Funky

[Cerbera]

I'm not sure we can have any sensible conversation about what constitutes a 'serious vehicle' when Boeing (for example) can't even remember to screw the bloody doors on its planes !

 

[onewheelkoregro]

2 minutes ago, Cerbera said:

I'm not sure we can have any sensible conversation about what constitutes a 'serious vehicle' when Boeing (for example) can't even remember to screw the bloody doors on its planes !

 

That's what happens when you legalize stock buybacks. It's what caused the Great Depression and right now the market eerily resembles conditions before the big crash before 1929. Glad I don't need gas and charging is cheap

[Paradox]

1 minute ago, onewheelkoregro said:

That's what happens when you legalize stock buybacks.

Could you elaborate? 

[on one]

Financing could be a good option if the rider wanted to get the EUC, but didn't have all the cash up front. Since the warranty for a V14 is supposed to be for 2 years, then repairs should be covered by Inmotion. In the case of an accident, maybe there could be some type of retailer insurance option available for an extra $400 like they offer at Staples for computer equipment. I think it's doable.

[Aztek]

8 hours ago, Punxatawneyjoe said:

what more does your car,motorcycle,bike have?

Better quality of all these and, more importantly, redundancy.

[onewheelkoregro]

On 5/25/2024 at 5:59 AM, Paradox said:

Could you elaborate? 

Boeing sacrificed Quality Control to increase profits for shareholders and board members. China jails billionaires, we put them on magazine covers and try to emulate these people. Stock buy backs were outlawed after the big stock market crash but all those laws protecting it from a repeat have been slowly repealed since Nixon. Reagan did the most repealing and even managed to convince the public that it was for the best. The elites do not care about us in the slightest. They would sacrifice any number of us for a couple of more zeroes at the end of their bank account. But having gone off topic if you live in the US and don't want to use your credit card, things like Affirm or Klarna are good to use. i have bought one EUC through Affirm and have had no issues

[Punxatawneyjoe]

On 5/25/2024 at 10:05 AM, Aztek said:

Better quality of all these and, more importantly, redundancy.

The argument was weather its a toy or a serious vehicle not if could pass your personnel stringency test. There is a ton more engineering and redundancy's (more than needed mosfets,capacitors, waterproofing.) That go into these wheels than would " a toy". Not many "toys" can kill you. There are a ton of people who use them as daily commuters to and from work as well as store runs. So IMO, not a toy . Unless ofc you talking about the m10-4 or the Falcon , then borderline "toy"

[Funky]

41 minutes ago, Punxatawneyjoe said:

The argument was weather its a toy or a serious vehicle not if could pass your personnel stringency test. There is a ton more engineering and redundancy's (more than needed mosfets,capacitors, waterproofing.) That go into these wheels than would " a toy". Not many "toys" can kill you. There are a ton of people who use them as daily commuters to and from work as well as store runs. So IMO, not a toy . Unless ofc you talking about the m10-4 or the Falcon , then borderline "toy"

By that logic even Mten4/Falcon isn't a toy - because they also can kill you. 

Same goes for a baby sucking on some Legos.. They also are not a toy?  If so guns also can be toys, for big overgrown man-child's.

Your only choice is to make all EUC's a serious vehicle or a toy - choose.  Simply for one fact - at any speed one can die at bad fall.

As you yourself said: there's is a ton more engineering and redundancy - euc size doesn't matter.

 Most of post talking about how euc is not a toy.. And last comment calling it a toy..  

Spoiler

 Made you look. <3 

Anyways EUC - is both a toy and a serious vehicles, each individual has their own mindset about them.. Same as you calling Mten4/Falcon a toy. Other will call all EUC's a toy.

See mine Legos/Guns reference.

 

Edited May 26 by Funky

[Punxatawneyjoe]

2 hours ago, Funky said:

And last comment calling it a toy..

That was in jest, i forgot the laughing emoji.

 I also knew you couldn't let that stand, me calling your precious  Falcon a toy....

[Funky]

5 hours ago, Punxatawneyjoe said:

That was in jest, i forgot the laughing emoji.

 I also knew you couldn't let that stand, me calling your precious  Falcon a toy....

Hey it is a toy.  As all EUC's are.  (I knew, that you knew, that i knew, that you knew, that i already knew that you knew, but did you knew that i already knew, that you knew, that i already knew?) It isn't that precious to me, as it still doesn't have actually good handle.

At least it's IP67 rated.  Inmotion starting to loose it's #1 spot. And Begode starting to make actually good wheels past few years. Rising from ashes - literally.

Edited May 27 by Funky

[daniel1234]

On 5/24/2024 at 10:15 PM, Donut Keeper said:

With the ever-increasing cost of EUCs and their technology; leads to EUCs becoming more expensive. Now they are just about in the same pricing category as mopeds and smaller motorcycles.  It's not too uncommon for someone to finance a moped or motorcycle, is it also common to finance a new EUC? I know many retailers offer it as an option. Do people have that kind of cash lying around to drop on a wheel?

What was your method of purchasing your EUC?

Hear my advice - if you dont have cash to drop on EUC dont get it ! 

Value of any new EUC drops rapidly, take it like investment into vacation. You either have money for vacation or not. Taking any kind  of loan or financing for EUC is very BAD idea. 

Yes it is sad - money can bring happiness.

Edited May 27 by daniel1234

[Funky]

Yup.. Better save up and buy it. If one has no money to right-out buy it (Money he can spend for "fun" things, etc..) He should not even look at euc's. As that money could be spent better. Or put aside for rainy day... One should keep at least 50k just for rainy days!

Skip some parties or going out with the guys for some drinks.. And you will have new EUC in no time.

I personally could buy new EUC every 3rd month. Simply for fact i'm antisocial and don't spend money anywhere aside for food/bills. Most of salary goes into safe. Time to time i take some thousands out and buy something bigger. Otherwise that's the point of making it - if you can't allow yourself to buy something nice time to time.

Edited May 27 by Funky

[Censored Truth]

All EUCs are Toys and All EUCs are over priced.

No EUC should cost more than $2500 MAX for the following reasons

1. The most powerful/fastest EUC has the Specs of a 125cc to 150cc scooter...about (60 mph). Free Spin speed is a misleading spec since one can't ride that fast. I am pretty sure cars, gas scooters and motorcycles have much higher free spin speed than the speedometer. 125mph Free Spin means nothing in the real world if you struggle to reach 60 mph for a split second.
2. They made by Chinese Brands (125cc to 150cc Chinese scooters cost between $700 and $2000). And the Chinese Brand scooters been around a lot longer than these EUC Brands and they are more tested and proven. Non-Chinese Brands like Honda, Yamaha, Kymco, etc. charge about $3k to $4K for their 150cc scooter but they are the best in the game. $4k can buy a used motorcycle that go a lot faster and way more powerful than a EUC
3. We are the Crash test dummies. These EUC companies do not test their wheels thoroughly before selling them nor is the quality control at the level it should be before selling the wheels. (Can't charge top dollar, for half a** product and make me a crash test dummy...) The above Scooter brands (Both Chinese and Top Brands - Honda, Yamaha, etc.) all put their products through major test before they hit the market for sale. But Several Youtubers have had issues trying out these EUCs. A $3k to $4K EUC should not need YouTubers to crash test them for them (EUC makers) to get it right in the 2nd or 3rd batch of production...it should be thoroughly tested from day 1 with the first batch...it should ONLY be a First Batch. Imagine there being multiple Batches of Honda, Toyota, Harley Davison, etc..
4. The prices of these wheels lose like $1000 value within a year of being on the market. A year ago EX30, V13, Commander Pro was all $4k wheels...now they all sell for $2700 to $3200 Brand New...I am already seeing the price of the ET Max selling for $3600. It came out in Late January and already the price dropped $400. The Original Commander was $4k two years ago and now it sales $2500 brand new. So why pay top dollar when you can wait a few months and get it cheaper? It also proves the prices are too high...if they can sell it brand new for $1000 cheaper, then that means they (EUC makers and Dealers) are greedy for gain
5. Have to buy after market parts for the EUC like pedals, pedal hangers, power pads, seat, lights (brake/rear), etc. Spending $3k to $4k for a product I should not have to buy anything after market to make the wheel function. Buying pedals for an $4k EUC is like buying Handle Bars for a Motorcycle...it is foolish. But the pedals, pads, seat, etc. are trash, so we have to buy after market ones
6. Speaking of after market accessories for EUCs, they are over priced as well. $300 for a charger? $300 for some pads or 3-D bumpers? $200 for some pedals/pedal hangers??? WTF
7. Many of these wheels are NOT waterproof. For the price I should be able to ride through any type of weather with no problem
8. Fires. Many of these wheels have caused fires over the years due to the battery. Even EUC dealers have burned down. Some EUCs still don't have proper BMS.
9. We (The riders) are the advertisers and brand ambassadors for these wheels. Except for Inmotion none of the EUC makers advertise/market their products. They depend solely on the rider/social media influencer to do that. Some don't have a website. Begode website is like a 1995 website. Very little function. Inmotion is the only company that have a nice website and even on their website many specs contradict...they didn't proofread before publishing/making the site live.
10. No manual for these wheels. For a product that cost several thousand of dollars at least give us a DETAILED owners manual so we know what is what on these wheels. I should have to spend hours on blogs, forums and YouTube videos to find out something about my wheel...it should be a owners manual for that. Like what determines range...Watt hours (WH) or Voltage? or neither? A manual should explain these things. Besides many Youtuber give conflicting views/reports and many of the reviews and reports are bias to that YouTuber personal views and opinion. For a $4k wheel I don't want personal bias views, I want facts that the EUC maker provide...should be in manual. Even some E-scooter makers have detail owners manuals. Step up your game EUC makers.
11. We are the mechanic on these wheels. For the price there should be shops where I can take the EUC and get it worked on to factory standard and have a warranty on the repair. The majority of riders have no clue how to work on a EUC
12. Cut outs, pedal dipping...Cut Outs and pedal dipping should not even be a thing. No other PEV or vehicle in general throw you off the vehicle simply because you reached Max speed/power. They either slow you down or reduce power/acceleration while keeping a steady speed and balance. Like the low range tilt back, so should it be for reaching max speeds/power on EUCs...And to add insult to injury, there jedi mind trick to convince us (the EUC riders) that it cut out, pedal dipped and even wobble because of rider error...when those things should not be an issue to began with. Some EUCs have cut out and pedal dipped at low speeds, so it ain't always a over powering thing...

In a nutshell, these EUC dealers and EUC makers are charging Top Dollar, for Half A** product, to make us the crash test dummy and mechanic, forcing us to purchase aftermarket product to make the ride more comfortable, while putting our property at risk of fire with the batteries...The price is too high and the juice ain't worth the squeeze. Don't get me wrong, EUCs are very fun, but the prices are way too high for the things they provide.

As one who worked in marketing the last decade for several Fortune 500 brands, I understand price vs value, and the value of EUCs (all of them) are way BELOW the prices they are selling for. All are overprice. The best and most powerful EUC should not cost more than $2500. The value is simply not there to charge more than $2500.

Same way we (EUC riders) mock and frown upon OneWheel costing $3k for specs of 20-30 mph and 15-25 miles range...so also EUC are over priced for the specs

In regards to being toys, that is in the eye of the beholder. Certain cars are called toys (Fast Sports Cars, Luxury/fancy cars). Motorcycles are called toys by some. So if cars and motorcycles can be considered toys, a EUC is definitely a toy...a toy for adults.

[litewave]

14 hours ago, daniel1234 said:

Hear my advice - if you dont have cash to drop on EUC dont get it ! 

Value of any new EUC drops rapidly, take it like investment into vacation. You either have money for vacation or not. Taking any kind  of loan or financing for EUC is very BAD idea. 

Yes it is sad - money can bring happiness.

Have you always paid cash for your car? Have you always paid off your credit card debt every month?

If your regard an EUC as a luxury expense (e.g., vacation), then I feel sad for you. 

Having an EUC is essential for most of us - for recreation, commuting, errands, and mental health. If you look at it from that perspective, paying interest over time is a small price to pay for the convenience and utility. I didn't even own a car for three years when I first started riding and saved thousands of dollars in interest on the car financing alone, that more than paid for the EUC and all the upgrades and accessories.

-----------------------------------

Getting back to the OP's question:

There are a few NO-INTEREST FINANCING OPTIONS. You will need to apply, and most will be a hard or soft hit on your credit profile. Your credit limit will, of course, be based on credit checks and the lender's policies.

1. PayPal Credit - deferred interest for 6 months - no interest if paid off in that time frame. Accepted by AlienRides.com, NextGenMobility.com, and (maybe, eventually, hopefully) eWheels.com again someday, and possibly others.

2. AfterPay (pay in 4) - interest deferred for 6 weeks - no interest if paid off in that time frame. Soft hit on credit. Accepted by eWheels.com.

 - "Pay over six weeks, Make the first payment upfront and the rest over time, Always interest-free when you pay it in 4, No fees when you pay on time."
 - "We’ll send you reminders and cap late payments to help you get back on track."

3. ShopPay (pay in 4) - interest free payments every 2 weeks - no interest if paid off in that time frame. Claims no hit on credit. Accepted by AlienRides.com.

 - "Pay in 4 for purchases $50 to $999, Interest-free payments every 2 weeks, No impact to your credit score"
 - "Pay monthly for purchases $150 to $20,000; 3, 6, or 12-month terms; Rates from 0-36% APR; No impact to your credit score to apply"

4. Promotional interest-free credit card - interest deferred for introductory period. Read the fine print. Accepted by all major online resellers.

Edited May 27 by litewave

[Funky]

55 minutes ago, Censored Truth said:

All EUCs are Toys and All EUCs are over priced.

No EUC should cost more than $2500 MAX for the following reasons

1. The most powerful/fastest EUC has the Specs of a 125cc to 150cc scooter...about (60 mph). Free Spin speed is a misleading spec since one can't ride that fast. I am pretty sure cars, gas scooters and motorcycles have much higher free spin speed than the speedometer. 125mph Free Spin means nothing in the real world if you struggle to reach 60 mph for a split second.
2. They made by Chinese Brands (125cc to 150cc Chinese scooters cost between $700 and $2000). And the Chinese Brand scooters been around a lot longer than these EUC Brands and they are more tested and proven. Non-Chinese Brands like Honda, Yamaha, Kymco, etc. charge about $3k to $4K for their 150cc scooter but they are the best in the game. $4k can buy a used motorcycle that go a lot faster and way more powerful than a EUC
3. We are the Crash test dummies. These EUC companies do not test their wheels thoroughly before selling them nor is the quality control at the level it should be before selling the wheels. (Can't charge top dollar, for half a** product and make me a crash test dummy...) The above Scooter brands (Both Chinese and Top Brands - Honda, Yamaha, etc.) all put their products through major test before they hit the market for sale. But Several Youtubers have had issues trying out these EUCs. A $3k to $4K EUC should not need YouTubers to crash test them for them (EUC makers) to get it right in the 2nd or 3rd batch of production...it should be thoroughly tested from day 1 with the first batch...it should ONLY be a First Batch. Imagine there being multiple Batches of Honda, Toyota, Harley Davison, etc..
4. The prices of these wheels lose like $1000 value within a year of being on the market. A year ago EX30, V13, Commander Pro was all $4k wheels...now they all sell for $2700 to $3200 Brand New...I am already seeing the price of the ET Max selling for $3600. It came out in Late January and already the price dropped $400. The Original Commander was $4k two years ago and now it sales $2500 brand new. So why pay top dollar when you can wait a few months and get it cheaper? It also proves the prices are too high...if they can sell it brand new for $1000 cheaper, then that means they (EUC makers and Dealers) are greedy for gain
5. Have to buy after market parts for the EUC like pedals, pedal hangers, power pads, seat, lights (brake/rear), etc. Spending $3k to $4k for a product I should not have to buy anything after market to make the wheel function. Buying pedals for an $4k EUC is like buying Handle Bars for a Motorcycle...it is foolish. But the pedals, pads, seat, etc. are trash, so we have to buy after market ones
6. Speaking of after market accessories for EUCs, they are over priced as well. $300 for a charger? $300 for some pads or 3-D bumpers? $200 for some pedals/pedal hangers??? WTF
7. Many of these wheels are NOT waterproof. For the price I should be able to ride through any type of weather with no problem
8. Fires. Many of these wheels have caused fires over the years due to the battery. Even EUC dealers have burned down. Some EUCs still don't have proper BMS.
9. We (The riders) are the advertisers and brand ambassadors for these wheels. Except for Inmotion none of the EUC makers advertise/market their products. They depend solely on the rider/social media influencer to do that. Some don't have a website. Begode website is like a 1995 website. Very little function. Inmotion is the only company that have a nice website and even on their website many specs contradict...they didn't proofread before publishing/making the site live.
10. No manual for these wheels. For a product that cost several thousand of dollars at least give us a DETAILED owners manual so we know what is what on these wheels. I should have to spend hours on blogs, forums and YouTube videos to find out something about my wheel...it should be a owners manual for that. Like what determines range...Watt hours (WH) or Voltage? or neither? A manual should explain these things. Besides many Youtuber give conflicting views/reports and many of the reviews and reports are bias to that YouTuber personal views and opinion. For a $4k wheel I don't want personal bias views, I want facts that the EUC maker provide...should be in manual. Even some E-scooter makers have detail owners manuals. Step up your game EUC makers.
11. We are the mechanic on these wheels. For the price there should be shops where I can take the EUC and get it worked on to factory standard and have a warranty on the repair. The majority of riders have no clue how to work on a EUC
12. Cut outs, pedal dipping...Cut Outs and pedal dipping should not even be a thing. No other PEV or vehicle in general throw you off the vehicle simply because you reached Max speed/power. They either slow you down or reduce power/acceleration while keeping a steady speed and balance. Like the low range tilt back, so should it be for reaching max speeds/power on EUCs...And to add insult to injury, there jedi mind trick to convince us (the EUC riders) that it cut out, pedal dipped and even wobble because of rider error...when those things should not be an issue to began with. Some EUCs have cut out and pedal dipped at low speeds, so it ain't always a over powering thing...

In a nutshell, these EUC dealers and EUC makers are charging Top Dollar, for Half A** product, to make us the crash test dummy and mechanic, forcing us to purchase aftermarket product to make the ride more comfortable, while putting our property at risk of fire with the batteries...The price is too high and the juice ain't worth the squeeze. Don't get me wrong, EUCs are very fun, but the prices are way too high for the things they provide.

As one who worked in marketing the last decade for several Fortune 500 brands, I understand price vs value, and the value of EUCs (all of them) are way BELOW the prices they are selling for. All are overprice. The best and most powerful EUC should not cost more than $2500. The value is simply not there to charge more than $2500.

Same way we (EUC riders) mock and frown upon OneWheel costing $3k for specs of 20-30 mph and 15-25 miles range...so also EUC are over priced for the specs

In regards to being toys, that is in the eye of the beholder. Certain cars are called toys (Fast Sports Cars, Luxury/fancy cars). Motorcycles are called toys by some. So if cars and motorcycles can be considered toys, a EUC is definitely a toy...a toy for adults.

Welcome to world - enjoy your stay and have a wonderful long lasting memories for rest of you life. Where we will try to milk you dry and make living as bad as possible. Where you will work every single day till you die and make enough to live & enjoy life bare minimum. 

 

Same can be said about anything in the world. People, products, food, medicine, wages, literally anything..

That new iPhone should cost half of it's price. That new graphic card should cost third of it's price. Elderly should not choose between food or medicine, because they cant afford both. List is endless..

As soon as you are born, you are a slave to this world and it's corruption.  Even at kindergarten/school age you are prepared to be a contributing human being and follow the system blindly no question asked..

And everyone is surprised why young people don't want children and have no dreams...

Edited May 27 by Funky

[daniel1234]

11 hours ago, litewave said:

Have you always paid cash for your car? Have you always paid off your credit card debt every month?

 

No I dont have money for house, not parking place or car. Riding EUC is my only vacation.  You can feel sorry and send me some money!  

Yes, I am from czech republic so poor country .. lol ... we have obviously diferent lifes. We life from salary to salary here. Sending regards to states - country where everything is possible.