How to Finance a Treadmill


New exercise equipment is expensive. To have the flexibility of a home gym, customers are often left strapped by the large costs associated with purchasing new equipment. Many companies now offer financing programs that allow customers to pay for purchases over time and receive equipment the same day. Caution must be exercised, however, as some financing programs will leave you paying far more than simply the listed price.

How to Finance a Treadmill

Pull a copy of your credit report and review it for negative marks, including late payments, charged-off accounts, judgment, bankruptcies, medical judgments and excessive inquiries. All these contribute to a low score and could hinder your ability to get treadmill financing.

Clear up the negative marks on your credit prior to seeking financing. Applying to several lenders with poor credit will only further weaken your already poor score. With a FICO less than 550, you should wait at least six to 12 months for your credit score to improve.

Research treadmill companies. Nautilus, an industry leader, offers some of the most reputable treadmills on the market. Other online companies, such as, offer a wide variety of products from multiple retailers. Look for the best deal on the treadmill of your choice.

Decide if a line of credit is the right type of account for you. Most companies offering treadmill financing offer credit card-type accounts that only mandate a minimum payment--meaning you'll need to exercise strict fiscal discipline to repay the loan quickly.

Apply for three to four treadmill loans at a variety of retailers. Review the options presented to you. Choose the one that best fits your fitness and financial goals.

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