| Flex Lease,
Purchase Plus or Sport Loan?
SPARTA offers both leasing and traditional installment
loan financing for new or used motorcycles and
other select powersports products. This means that qualified
buyers have a number of choices available to them to fit
The Difference Between Leasing and Financing?
are several important differences:
you choose the SPARTA “Flex Lease,”
you’re only paying for the time you’ve got possession
of the vehicle, rather than the entire purchase price if you
were to buy it. For
example, if you lease a new motorcycle under a 5 year contract
that costs $10,000, you’ll be making monthly payments
based only on about 60% of that principal amount ($6,000) plus interest, during
the life of the lease. The balance of $4,000 is called a “Residual,”
which you are not obligated to pay.
the end of the lease, you’ve got 4 options; You can
either (a) Buy the vehicle for the residual amount, (b) Re-Lease
the unit either to own, or for an additional stipulated period,
(c) Upgrade to a new vehicle, or (d) Turn in the vehicle and walk away with no further
obligation. When you choose to lease, rather than purchase,
you’ll generally have lower monthly payments and no
worries about advertising and selling the vehicle at the end
of the term.
SPARTA offers a special opportunity
to leasing customers who establish a good payment history. It’s
called “The Early Upgrade” program, and it enables
you to actually upgrade to a new vehicle long before the term
of the lease ends… with no penalty! To illustrate: Even
if you’re riding your new bike under a 5 year SPARTA
Flex Lease, a good payment history will allow
you to get on a new bike after only 3 years! The
Early Upgrade is also available on a 4 year lease after 2 1/2 years, and
after 2 years on a 3 year lease. We believe that
with the “Early Upgrade” feature, the SPARTA
Flex Lease is the most aggressive and flexible
financing program in the powersports industry today! SPARTA’s
Flex Lease is available with terms from 24 to
60 months, and can also include bolt on accessories (allowing
you to customize the vehicle your way), a service contract and GAP
also offers a “Purchase Plus”
program that is designed expressly for customers who definitely
want to own the vehicle at lease end. This product normally
carries an 11% residual and has an initial term of up to 60 months,
making it function similar to a retail installment contract. At lease end,
the customer also has the option to pay off the residual balance
over several additional months.
those customers who prefer a more traditional method of financing
and definitely want to own the vehicle, SPARTA’s
“Sport Loan” is the clear
choice. SPARTA’s Sport Loan is
available with terms of 24 to 60 months.
for the Flex Lease, the Purchase Plus
Lease, and the Sport Loan must
be at least 18 years of age.