How To Finance With Credova
- First things first APPLY NOW by clicking on CREDOVA or any Credova banner and get your pre-approval instantly!
- Once pre-approved, quickly Authenticate your approval before your item SELLS!
- Now you can either choose the “BUY NOW” option or being placing “BIDS” for up to the amount you have been approved for or more! Amounts in excess of your Approved Line of Credit will be invoiced separately through SK Arms VA.
- Once you have WON the Auction, pat yourself on the back and contact us immediately at [email protected] to finalize your new purchase! Its that easy!
- Pay Over Time: Credova puts the purchasing power in your hands with an easy monthly payment plan instead of paying for entire purchase upfront.
- Get Approved with No Credit Impact: Shop with confidence. You can receive pre-qualifications from multiple providers quickly without affecting your credit score.
- Approval Amounts: Credova has multiple financial providers that can approve you for up to $5000 at checkout!
- No Hidden Fees! With Credova, there is no application fee & no pre-payment penalties! Any fees or charges are fully disclosed in your contract! There is however a upfront one time 3% fee from the Retailer which covers the financing fee for Credova to lend to you.
- Multiple Lender Offers: With a single online application you can receive multiple financing offers letting you choose the offer that best fits your budget.
- Early Buyout Options: You can tailor your financing experience with the ability to buy out of your contract at any time with no pre-payment penalties!
How easy is it to apply?
- Very Easy! Online applications only require basic information and you can receive approval in seconds!
How much will I be approved for?
- Depending on your application details, you can be approved up too $5,000 instantly!
What if my total order cost is greater than my approval?
- You can finance up to the full amount of your approval. If your order cost exceeds your approval amount, you will be required to pay the difference via a separate invoice from SK Arms VA.
What type of financing is offered?
- Credova is partnered with a network of financing options that offer retail installment sales contracts (RISCs) and/or closed-end consumer lease agreements.
What is the difference between a RISC and a closed-end consumer lease agreement?
- With a RISC, you are purchasing the item and agreeing to make installment payments over a specific term plus any associated interest rate. A closed-end consumer lease agreement doesn’t have an interest rate but rather charges monthly leasing fees. With a closed-end consumer lease, you are leasing the item/s from a lessor and have the option to purchase the item during the course of the lease.
What are the leasing fees?
- If you choose to finance with a company offering a closed-end consumer lease, with each monthly payment, you will pay leasing fees. These fees represent the premium charged by the lessor for allowing you to lease an item and will vary depending on customer approval information. Please review your offer/s carefully prior to completing your agreement.
What is the Interest Rate?
- The interest rate is the amount charged, as a percentage of principal, by a retailer to a customer for the ability to pay for an item over time. This is often expressed over an annual basis commonly referred to as the annual percentage rate (APR). With a RISC, the system considers more than just your credit and your interest rate will vary based on the information provided. Please review your offer/s carefully prior to completing your agreement.
Am I locked into my financing contract for the full term?
- Not at all. Whether you are using a RISC or closed-end consumer lease, you can pay off your balance at any time and there are never any prepayment penalties!
What Information do I need to apply?
- Open/Active checking or savings account
- Government issue photo ID
- Email Address
- Social Security Number
- Income/Employment information
- Phone Number and Address
How often are payments made?
- Payments are made on a monthly basis.
When will my purchase be shipped to me?
- Please keep in mind, any firearm purchase must be shipped to your local FFL dealer rather than your home address. For shipping timing and tracking, please review the retailer’s policies.
How much do I have to pay today?
- Depending on the type of financing selected, you may be required to complete your first payment at the time of signature whereas other financing products will not require a payment for at least 30 days. If required, you will be able to complete your first payment at checkout.
Can I finance a firearm if I am out of state?
- Yes, you can finance a firearm out of state. Certain restrictions may apply. Please be aware, all purchases must be picked up from your local FFL dealer.