Given the high price of golf clubs, buy now, pay later deals have emerged as a viable potential option for golfers looking to spread the cost of equipment out over a longer period of time.
But what do you need to know about buy now, pay later golf deals? Are they viable? And what options do you have?
Here, we take a closer look at how to buy golf clubs on finance and explain everything you need to know about how to buy now, pay later deals work in practice.
- Can Golf Clubs Be Financed?
- Are There No Credit Check Golf Club Financing Plans?
- What Golf Companies Accept Affirm?
- Does It Hurt Your Credit to Use Affirm?
- Who Else Offers Buy Now, Pay Later on New Golf Clubs?
- Is Klarna a Good Option for Golf Financing?
- Is Buy Now, Pay Later a Good Idea for Golf Gear?
- Does Buy Now, Pay Later Affect Credit Score?
Can Golf Clubs Be Financed?
Yes, absolutely! You can finance the purchase of new golf clubs when you buy from specific retailers or companies directly. For instance, Callaway has partnered with Affirm, while TaylorMade has a partnership with Klarna.
These partnerships enable you to spread the cost of purchasing golf clubs over 3, 6, or even 12 months, depending on your preferences. You should note that the APR – annual percentage rate – will vary depending on the deal that you take out.
For instance, Callaway offers 15% APR for a period of 12 months, but this will vary depending on how much your clubs cost and how long your repayment period is. But the good news is that there are flexible plans available to golfers, which can spread the cost of golf clubs over the course of a year.
Now that you know the basics let’s take a closer look at some of the golf club financing plans out there, so you can spread the cost of your golf equipment over a longer period of time.
Are There No Credit Check Golf Club Financing Plans?
The reality is that most golf club financing plans require a credit check before enabling you to sign up. However, you don’t necessarily need to have a flawless credit history to be approved, which is good to know if you’re looking to finance your new golf clubs.
Although the likes of Affirm and Klarna require credit checks before approving your application, they won’t necessarily impact your credit score, even if you’re not approved. As such, seeking approval is a good option for everyone.
You just need to answer some simple questions about your credit history and enter some basic personal information to be considered. You will then be informed of a decision before you can press ahead with your golf club financing arrangement.
The fact that brands and retailers use different golf club financing companies means that there are lots of options available to you, and we introduce some of them below.
What Golf Companies Accept Affirm?
Several golf companies use Affirm, with Callaway being the most prominent example. When you buy new golf clubs directly from the Callaway website, you have the option of spreading the payment out over 3, 6, or 12 months, thanks to their partnership with Affirm.
If you’re interested in financing your new golf clubs, you can apply directly on the Callaway website. As mentioned, you will need to pass some simple eligibility requirements before your application can be processed.
In addition to Callaway, you can use Affirm when you’re shopping at online retailers like Global Golf and Dick’s Sporting Goods. The application process is the same as listed on the Callaway site, and your application for finance will be subject to approval.
Overall, Affirm is a great option if you’re looking to spread the cost of new golf clubs, and it saves you from emptying your bank account from the outset.
Does It Hurt Your Credit to Use Affirm?
Applying to finance your golf clubs with Affirm does not directly affect your credit score. Affirm will perform a soft check on your credit file to ascertain your creditworthiness, which does not affect your credit score in the long term.
When they determine your creditworthiness, Affirm will then determine the rate of APR to offer, which will also be influenced by your initial payment amount, as well as the agreed repayment period.
People with worse credit scores will be offered a higher rate of APR, and the converse is true. Therefore, it makes sense to work on your credit score before financing your new golf clubs, as you’re likely to be offered a more favorable rate.
You should also be mindful that missing payments on your golf clubs will negatively affect your credit score, so you need to make sure that you pay the agreed monthly amount on time, to avoid penalties from the credit bureaus in the US.
Who Else Offers Buy Now, Pay Later on New Golf Clubs?
You will find that so many online retailers and brands offer buy now, pay later deals, as it’s a really popular way to pay for golf clubs. Some examples include:
- Callaway – Affirm
- TaylorMade – Klarna
- Rock Bottom Golf – Affirm
- Dallas Golf – Affirm
You can also use platforms like Abunda and Club14 Golf, which offer alternative ways of financing golf clubs, enabling customers to spread the cost of their purchases over periods of up to two years.
It’s really important to check the APR and associated terms and conditions of a buy now, pay later deal, as you might end up paying significantly more than the retail price of the golf clubs. You can find details of each deal on a retailer’s website before deciding how to pay for your clubs.
Is Klarna a Good Option for Golf Financing?
Just like Affirm, Klarna can be a good option for golfers looking to spread the cost of their new clubs. TaylorMade is the most prominent retailer to have partnered with Klarna, and their arrangement works similarly to that of Callaway and Affirm.
You can decide on the TaylorMade clubs that you wish to buy, and after submitting some basic information relating to your eligibility, you will have the chance to finance your golf clubs if you meet the requirements.
Again, once approved, you need to make your monthly payments on time, as missing Klarna payments will have a negative impact on your credit score.
So, provided that you calculate your APR and are on time with the stipulated repayments, buying new golf clubs with Klarna can be a great option for all golfers.
Is Buy Now, Pay Later a Good Idea for Golf Gear?
Buy now, pay later has emerged as a popular way of buying a range of items, and golf gear is no different. Your first thought should be the affordability of the arrangement, as many buy now, pay later deals come with APR attached.
This means that you need to pay interest on top of the purchase price of the golf clubs, which makes them more expensive, even though you get to spread the cost out over a longer period of time.
If you don’t make the monthly repayments on time, your credit score will take a significant hit, which will then limit your chances of borrowing money in the future. But if you’re careful with your payments and set up a direct debit, you shouldn’t have any issues.
If you’re not sure about buy now, pay later golf clubs, you can always put your new clubs on a credit card, which is a more traditional way of paying for them. We recommend that you do your sums to work out which method is the best for you, and you should consider how much you will end up paying for the clubs at the end of the repayment period.
Does Buy Now, Pay Later Affect Credit Score?
When you borrow any form of money, your credit score is likely to be impacted in some way. With buy now, pay later deals, your credit score will not be affected by merely applying. This is because the lenders perform what is known as a soft check, which doesn’t negatively affect your score.
If you’re approved, your credit score might take a temporary dip, as your credit-to-income ratio will be affected. However, if you make the monthly payments on time and pay the money back as agreed, it will actually help your creditworthiness in the long run.
Of course, as mentioned already, if you miss or delay your repayments, your credit score will be negatively affected.
So, the bottom line is that buy now, pay later deals can both positively and negatively impact your credit score, and it largely depends on how good you are at making your payments.
Buying new golf clubs can be expensive, and not everyone has the money sitting in their accounts to splash out on a brand new set of clubs. As such, buy now, pay later arrangements have become popular with golfers looking to spread the cost of the purchase out over a longer period of time.
The key thing to remember is that buy now, pay later deals involve APR, meaning you have to pay interest on top of the purchase price. Also, if you delay or miss payments, your credit score will be negatively impacted.
But if you’re keen to spread the cost of your golf clubs out over several months or even years, a buy now, pay later deal could be a good option for you.