- 1). Make copies of the paperwork you'll use to convince banks or credit unions you can afford to take on a loan for a moped or scooter. This paperwork includes your most recent federal income tax return, savings and checking account statements, credit card bills, other loan statements and two most recent paychecks.
- 2). Shop around at local and national banks and credit unions. Rates and origination fees may vary widely from bank to bank, so make sure to shop until you find a lending institution that offers a rate and fees with which you are comfortable. The dealer from which you bought your scooter or moped may also offer financing. Be careful, though; these financing options often come with higher interest rates and fees.
- 3). Tell a loan officer at the credit union or bank you decide upon that you're interested in financing a motor scooter or moped. The loan officer will ask you basic questions about yourself and the vehicle you are buying, including its price and your estimated gross monthly income.
- 4). Send your loan officer by fax, mail or email the copies you made of your important financial papers. The loan officer will look at these papers to determine if your gross monthly income is high enough and your monthly debt obligations low enough to afford a loan for your scooter or moped.
- 5). Sign the closing documents that make your loan official if your loan officer approves your application.
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