REMINDER: Segway financing is available $75/mo.

[SegwayUtah]

I keep on hearing "if Segway had financing..."

Fear no more: they do have financing options available through Digital Federal Credit Union (DCU). DCU will write a secured "small recreational vehicle loan" specifically for a Segway HT (it's on their site). It's a 5-year loan, and they'll write one for just about any decent American citizen from what I understand. The monthly payment should be less than $99/mo.

Segway.com > Shop > Financing
http://www.segway.com/shop/financing.html

Provided through "small recreational vehicle loans" at:
http://www.dcu.org/
http://www.dcu.org/prodserv/loans/small_rv.html

Let all your friends know--they can get a Segway HT with small monthly payments of less than $99!

I expect that leasing options will be available soon as well.

UPDATE: I mentioned it would be less than $99 a month; that was just to get it in the 2-digit ballpark. In reality, a p-series would be about $80 a month and an i-series would be about $90 a month. See below. Also, the standard interest rate is just 5.3%, or 4.8% for good credit risks.

Chris

[ElectraGlide]

Hmmmm......at 99.00 a month for 5 years the cost comes to $5940.00 . With the typical "I series" retail costing 4495.00 , and assuming 6% sales tax like I have here in Florida , the total cost PAYING CASH is 4764.70....thats a difference of 1175.30 !! Financing costs are way too high.....better to save the money and buy a machine when you dont need to finance. Live debt free.......sleep better at night.

Steve

[Ground Loop]

Yeah, but now you have a different answer for "How much dem things cost?"

"Just $99 a month!"

And they have something to compare to car payments. :)

[fredkap]

Steve,

They are charging 7.3% annual interest or $19.95 per $1,000 which is better than putting it on a credit card. Paying cash is preferable but Chris's point is that if you want to finance a purchase, there is a reasonable rate available.

-Fred

[BruceWright]

That's great. I'm gonna say $99 a month.

I can't wait until they have leasing options. That's going to be great!

-Bruce Wright

Segway: Vehicle of Dream

[SegwayUtah]

Thanks Fred :)

Yes, I was just trying to show that it would be less than $100 a month (if consumers see a third digit, it's as expensive as a car dang it).

So, I pulled up the DCU website and here's what I found:

[u]Segway HT i167</u>
Loan amount: $4,764.70 (Steve's figure)
# of months: 60
Interest rate: 5.3% Standard (Premier rate is less--just 4.8%)

Total monthly payment:
$90.57 a month "for just $90 a month"
$85.45 a month (if you're willing to pay tax & shipping yourself)

[u]Segway HT p133</u>
Loan amount: $4234.70 (Steve's figure of 6% sales tax)
# of months: 60
Interest rate: 5.3% Standard (Premier rate is less--just 4.8%)

Total monthly payment:
$80.50 a month "for just $80 a month"
$75.94 a month (if you're willing to pay tax & shipping yourself)

So, here's what we've found out:
If you put down sales tax and shipping as a down payment, you can get a "commuter" Segway HT for around $75 a month. $5/mo. extra for no down payment, and $10/mo. extra for the "variable-terrain" Segway HT.

Chris

[SegwayUtah]

BTW, you can (anonymously) calculate monthly payments at:
http://www.dcu.org/onlineserv/loanwizard.html

To summarize . . .

p-series:
$75-$80 / mo.
60 months

i-series:
$85-$90 / mo.
60 months

Also, the interest $ paid on the i-series is &lt;$670 for the 5 years, which isn't bad at all. That's like paying the interest on a credit card for a year (or half a year of interest for some people).

Plus, as I understand it, there are _no_ prepayment penalties.

Chris

[smoother]

Excellent idea about saying how much it costs. Everyone can relate to $85/month. Might start a new trend in ownership. After all, most people aren't concerned with the sales tag, "just tell me the monthly payments"

Brilliant!

We should all memorize that URL DCU.ORG DCU.ORG DCU.ORG DCU.ORG

John Out.
"Live to glide, glide to live"

[BenBethel]

FINALLY! Yes, yes, yes! $75/mo for the p series, $85/mo for the i series... this is really what will get the public moving on these things. After all, people finance waverunners and boats and other things that they use about 10 hours a year for more money each month!

That's one goal down. Next goals:

1) Get Segways approved as medical devices... this must happen this year, it will be a great catalyst and could totally negate current state/city laws against them if people with mobility issues start using them! Hell, if the iBot can go on two wheels anywhere, then this can too!
2) Get rid of the 'expensive' image - we need more comparisons to the cost of a laptop, car, cellphone, parking, etc. out there!
3) Get rid of the 'lazy/wasteful' image - we need some research that shows for an hour of usage this burns as many calories as walking an hour, and you cover more ground. I truly believe this, because after an hour of riding, I've been bending my knees, working my calves, my legs, and even my upper body (back/arms/abs) seems to get a workout from pulling and pushing, although not much. It at least burns a hell of a lot more calories than sitting behind the wheel of a car!

I'll also post this in a new thread...

Ben

www.benbethel.com

[Uki]

Ummm, am I not getting something or do you people realize that the only way to get an account with them is to work for a sponsering company? And you need to have an account before you can get financed? Just curious, any help would be appreciated. Thanks.

[SegwayUtah]

Uki,

No, you don't have to be pre-affiliated with a sponsor. I know that they have a sponsor which you can make a small ($20?) donation to and can then be affiliated :) I believe you have your loan approved and everything--and then making the small donation is all it takes to "do the deal."

Chris

[Uki]

Thanks, if they approve me then i'll mosdef be coming to segway fest. Thanks for the help. :)