Carport or Garage Financing Calculator
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What is the interest rate on the amount financed?
The annual percentage rate is illustrated by the chart below.
| Credit Score | APR |
|---|---|
| 640 – 850 | 9.99% |
Is a down payment required?
Minimum 16% down payment required plus engineering prints if applicable
Customer Criteria:
- Must be the Homeowner where carport/garage is installed
- Must provide a legible copy of drivers license or State issued ID
- Debt ratio in line with proposed payment
- Verifiable income
How do I apply for financing?
Simply fill out the order form for the product you wish to purchase. Jump to the order forms now: carport order form or the garage order form. When filling out the respective order form simply select the option box under payment options, “Yes, I would like to apply for financing.” We will then make sure you receive the required information to attain financing.
What would the monthly payments be?
Please use the payment calculator on this page to calculate your approximate monthly payment. For example, you may have located a carport/garage on our site you would like to purchase that costs $2500 and the sales tax in your area is 7%. You are able to make the required 12% down payment and decide to finance the remaining balance of the carport/garage for two years (24 payments). You know that your credit score is around 760. Using the chart above you know that the percentage rate you will be charged is 10.99%.
Example:
| Cost of Carport or Garage you wish to purchase | $2500 |
| Local Sales Tax | 7% |
| Total Purchase Price | $2675 |
| Minimum 12% Down Payment | $321 |
| Amount to be Financed | $2354 |
| Estimated Credit Score | 760 |
| Using Calculator Approximate Monthly Payments | $108.57 |
Are there any penalties if I pay it off early?
No. You may pay the remaining balance at any time. Just contact the finance company for the final pay off amount.
If you have further questions contact us.