Can you finance a folding electric wheelchair?
Folding electric wheelchairs can be a life changing mobility aid for many people. But they are not usually considered a cheap option.
Whilst they can have a huge impact on someone’s day to day life, they are often out of many people’s price range.
A good folding electric wheelchair is going to cost you anywhere between, $1,000 and $3,000. This is a lot of money to pay in one go, and many people won’t have this lying around. Especially those who are collecting benefits due to a disability.
Two common questions we get here at Folding Mobility are:
- Can you get a folding electric wheelchair on finance?
- Are there any deals available with low cost monthly payments?
The short answer to both of these is yes.
It will depend on where you buy your wheelchair from. But most companies will offer some form of monthly payments, these are often specifically tailored for people with disabilities.
This means you can spread the overall payment into much smaller, more manageable, monthly payments.
Also, most pay monthly wheelchair deals, have very good approval rates, even for those with bad credit.
One company that has a great range of wheelchairs and mobility scooters is Better Products for Disabled. They have some great deals, plus the approval for monthly payments is quite high.
To see our favourite folding electric wheelchair from Better Products For Disabled click the link below
3 Common finance options used for folding electric wheelchairs
The type of finance that is offered will depend on the company you are buying your chair from. Below we have listed a few of the options that we regularly see, as well as some features that you might find with each product.
Affirm is one of our favorite forms of finance for folding electric wheelchairs. It is the main finance option offered by our friends over at Better Products for Disabled.
The reason we like this option so much is its simplicity. The application takes roughly 60 seconds and the decision is instant
It does not include a full credit check. Instead it just runs a soft search, which doesn’t impact your credit score.
They also boast a very high approval rating. They claim to be able to approve 96% of applications. However, for people with poor credit you may need a guarantor.
Payment plans are all 0% interest and range between 3 months and 12 months in length. This means you can spread the total payment into smaller, manageable chunks. Also, because it is 0% interest, you won’t be paying more than the list price.
The only real negative with Affirm, is they don’t offer longer payment plans. 12 months is currently the maximum plan length.
So, will you be able to get folding electric wheelchair financing through Affirm? The chances are quite high that you will be approved. To qualify you must meet the following criteria:
- Aged between 18 – 75 years old
- You must be a permanent US resident
- Living in your current address for 1 year or more
- Have a debit or credit card
- And finally, you will need a valid US phone number
As you can see the requirements are quite basic. Which means this type of finance is a good option for most people.
Another great financing option is PayPal Credit. This can be used on any purchase over $100 and allows you to spread the payment.
To use PayPal credit, you will need a PayPal account. However, if you don’t already have one, getting set up is easy and only takes a few minutes.
To be eligible for PayPal Credit, you will need to go through an application process. During this process PayPal will perform a credit check. Due to this, you should probably check your own credit score for free before applying.
When a company checks your credit, it can have a negative impact on your credit file. We would recommend checking your score. If it is below average, then it is probably not worth applying for PayPal Credit. Instead you should consider our first option DivideBuy, which won’t rely on your credit score.
You can check your credit score for free with Experian. Checking your score doesn’t cost anything as Experian made it a forever-free service. So, you can now sign up at no cost and check your credit score whenever you like.
Click here to visit Experian and check your free credit score
One of the other options we commonly see with online stores is Klarna. There seems to be a couple of reasons for this.
Firstly, they do offer a variety of flexible payment options to customers. These include:
- Buy now and pay later
- 0% interest for plans between 12 – 24 months
- Zero deposit finance options
So, can you get a folding electric wheelchair on finance with Klarna.com? The truth is it will depend on several factors. The main one being your current credit score and credit history. If you have a low score, or have any of the following, you may struggle to get wheelchair finance with Klarna.
- Poor credit score
- Have a history of late or missed payments
- Conflicting records of your registered home address
- Or if you have filed for bankruptcy in the past.
If none of the above apply and you have a decent credit score, you should be approved for financing. Again, if you don’t know your credit score you should check it before applying.
You can check your credit score for free with Experian by Clicking Here
Can you finance a folding electric wheelchair? – Conclusion
As you can see there are several options when looking to purchase a folding electric wheelchair on finance.
Also, it is important to mention, that these are not the only options available. Different companies will offer different finance solutions.
The reason we have focused on these finance plans, is they are the ones we have the most experience with. Also, solutions like Affirm are quite unique, as they are suitable for people who might not usually qualify for finance. This makes them much more accessible for people claiming benefits. Or those with poor credit.
Our favourite electric wheelchair for finance is currently “The 1” from Better Products for Disables. Its lightweight has great battery life and comes with assistance control. Plus its quite a bit cheaper than similar chairs.
We hope you found this information on wheelchair finance useful and if you have any questions please leave them in the comments below.