Financing Options

[Blakelevy]

Good morning Scout Motors Family!
I have a reservation with the Traveller and like yourselves, I am very excited about this in 2027. I don’t mind the wait as I always believe that all good things come to those who wait.

I am concerned about how to pay for this. Does anyone know if Scout Motors will be offering any financing? I have written to them directly and I don’t really get a clear answer on most questions. While I know that this is a new company and it’s a completely new vehicle, some answers should be already put in place. Does anyone know if that financing option would be available to us? Is sure like to know what I’m spending before the car goes to production.

Thanks and Happy Thanksgiving to all of you!

Blake

 

[R1TVT]

There is no doubt there will be financing options, but like the range extender, details are.... TBD

What financing options will be available? | Scout Support

support.scoutmotors.com

 

[cyure]

Good morning Scout Motors Family!
I have a reservation with the Traveller and like yourselves, I am very excited about this in 2027. I don’t mind the wait as I always believe that all good things come to those who wait.

I am concerned about how to pay for this. Does anyone know if Scout Motors will be offering any financing? I have written to them directly and I don’t really get a clear answer on most questions. While I know that this is a new company and it’s a completely new vehicle, some answers should be already put in place. Does anyone know if that financing option would be available to us? Is sure like to know what I’m spending before the car goes to production.

Thanks and Happy Thanksgiving to all of you!

Blake

Welcome to the community! A great follow is @Jamie@ScoutMotors he keeps us updated from the manufacturer side.

I did not ask about financing but I did ask him back in February about trade in’s and this is the answer I got.

Post in thread 'Trade-In with EV direct sale'

Feb 19, 2025

We will have a solution for trade-ins. More as we get closer to going to market.

• Jamie@ScoutMotors

• 
• 

I can’t imagine there won’t be financing options. We just dont know what it looks like yet.

 

[Blakelevy]

View attachment 11565
There is no doubt there will be financing options, but like the range extender, details are.... TBD

What financing options will be available? | Scout Support

support.scoutmotors.com

Yes Master Yoda…..patience it will be!

 

[BeerParty]

I am concerned about how to pay for this. Does anyone know if Scout Motors will be offering any financing? <snip>
Does anyone know if that financing option would be available to us?

If you are concerned, you could talk to your bank or credit union about financing. My bank is always trying to get me to borrow money, I'm sure they would be very helpful if you told them you were looking to finance a new vehicle.

 

[apex96]

My bank is always trying to get me to borrow money, I'm sure they would be very helpful if you told them you were looking to finance a new vehicle.

They need that sweet sweet interest to leverage more money elsewhere!

It's wishful thinking but a 0% or 0.9% for 60 to 72 months would be a nice surprise for those that place orders for the "launch editions" or early adopters within the first model year...

I am also interested in what financing options will be available, but we are still a ways out from this information being available

 

[J Alynn]

They need that sweet sweet interest to leverage more money elsewhere!

It's wishful thinking but a 0% or 0.9% for 60 to 72 months would be a nice surprise for those that place orders for the "launch editions" or early adopters within the first model year...

I am also interested in what financing options will be available, but we are still a ways out from this information being available

Would be nice but reality is that would be hard pressed for year one. Current rates seem to be 5-7% and with a list of probably 200,000 reservation holders by launch-.there will be plenty of people in line that can pay cash or will pay 7% that they won’t have to offer anything less than 3-4%. But I like your thinking and would love a super low interest rate

 

[cyure]

Would be nice but reality is that would be hard pressed for year one. Current rates seem to be 5-7% and with a list of probably 200,000 reservation holders by launch-.there will be plenty of people in line that can pay cash or will pay 7% that they won’t have to offer anything less than 3-4%. But I like your thinking and would love a super low interest rate

Plus who knows where interest rates will be 2 years from now. Another wait and see, but I agree they have no reason to offer 0%. They just need to be competitive with what the banks are offering. Thats it.

 

[apex96]

Would be nice but reality is that would be hard pressed for year one. Current rates seem to be 5-7% and with a list of probably 200,000 reservation holders by launch-.there will be plenty of people in line that can pay cash or will pay 7% that they won’t have to offer anything less than 3-4%. But I like your thinking and would love a super low interest rate

I agree it's optimistic thinking! But it's not out of the realm of possibility. They have a lot of reservations currently sure, but that's with a really low refundable deposit of $100. When the order books finally open how many will actually convert their reservations into an actual vehicle? The optimist in me says maybe 20-25% of reservation holders will place an order... That 200,000 reservations suddenly drops to maybe 40,000-50,000 actual vehicles. A low interest rate may entice more people to convert reservations into actual orders...

This is all conjecture of course and likely any concrete factual information won't be available until Q3 of 2027... And yes @cyure, a lot can happen in two years, who knows how this will all play out!

 

[cyure]

I agree it's optimistic thinking! But it's not out of the realm of possibility. They have a lot of reservations currently sure, but that's with a really low refundable deposit of $100. When the order books finally open how many will actually convert their reservations into an actual vehicle? The optimist in me says maybe 20-25% of reservation holders will place an order... That 200,000 reservations suddenly drops to maybe 40,000-50,000 actual vehicles. A low interest rate may entice more people to convert reservations into actual orders...

This is all conjecture of course and likely any concrete factual information won't be available until Q3 of 2027... And yes @cyure, a lot can happen in two years, who knows how this will all play out!

That’s a good question actually. We know the Cybertruck conversions to purchase were abysmal. I’m curious how the R2 does.

Does anyone happen to know when Rivian started converting those very first reservations how many people actually purchased? And once they started production how long it took them to get through the initial list?

 

[J Alynn]

That’s a good question actually. We know the Cybertruck conversions to purchase were abysmal. I’m curious how the R2 does.

Does anyone happen to know when Rivian started converting those very first reservations how many people actually purchased? And once they started production how long it took them to get through the initial list?

The issue with both of those is both companies over promised and under-delivered. If Scout continues to hold, that will be one major hurdle they won’t have to try and jump over at the time retail sales start

 

[cyure]

The issue with both of those is both companies over promised and under-delivered. If Scout continues to hold, that will be one major hurdle they won’t have to try and jump over at the time retail sales start

Okay is there a company that over delivered have can compare Scout too?

 

[J Alynn]

Okay is there a company that over delivered have can compare Scout too?

In my mind and to my knowledge there really isn’t anyone. Rivian’s issues certainly weren’t as much born of management as much as the Pandemic but either way-talking pricing for years then suddenly throwing 35% more to the price is bound to cause hurt. Fingers crossed that SM can hold that number until launch

 

[J Alynn]

Okay is there a company that over delivered have can compare Scout too?

Porsche? Maybe? There EV’s seem to be doing great as does the tech and nobody is screaming foul on the pricing (though that buyer group probably isn’t as worried about cost)

 

[THil08]

Ill be using a credit union. They usually have the lowest rate.

Another great part about DTC is that you get to pick who the loan is with. Unlike with a dealership who has certain banks they work with.

 

[J Alynn]

Ill be using a credit union. They usually have the lowest rate.

Another great part about DTC is that you get to pick who the loan is with. Unlike with a dealership who has certain banks they work with.

Credit unions are awesome. And you are right-our credit union always has lowers rates-and my wife works at a bank

 

[6-ScoutFamily]

Credit unions are awesome. And you are right-our credit union always has lowers rates-and my wife works at a bank

We’ve used CU’s forever, they are easier to work with than any banking experience I’ve had.

 

[apex96]

Ill be using a credit union. They usually have the lowest rate.

Another great part about DTC is that you get to pick who the loan is with. Unlike with a dealership who has certain banks they work with.

Most of the manufacturers have their own lending arm... typically the really low interest rates come from the manufactures lending arm and not banks or credit unions. Sometimes certain incentives and discounts are tied to using the manufactures lending arm to qualify for them. Good news is that if the manufacturers lending arm is not running a low APR incentive, you can purchase under their financing and then turn around and refinance with a lender of your choice as long as you don't exceed whatever mileage threshold your lender of choice has before they'll consider it a used car!... I've done this before, it was actually my first new vehicle...

 

[SrfnFly227]

Interest rate is something that I'm concerned about also. I am putting a bit away here and there to help finance as little as possible, but with my expected price of around $80k +, I highly doubt I'll be able to pay cash for my Traveler.

I've only bought 3 vehicles in my life and all 3 were financed through Chrysler.
- 2006 Wrangler at 2.9%
- 2016 Grand Cherokee at 0%
- 2019 Pacifica at 0%

 

[cyure]

Interest rate is something that I'm concerned about also. I am putting a bit away here and there to help finance as little as possible, but with my expected price of around $80k +, I highly doubt I'll be able to pay cash for my Traveler.

I've only bought 3 vehicles in my life and all 3 were financed through Chrysler.
- 2006 Wrangler at 2.9%
- 2016 Grand Cherokee at 0%
- 2019 Pacifica at 0%

We just have to wait and see but with a brand new in demand product I don’t think they will need to offer a 0% interest rate to encourage buyers. However, what about offering some sort of discount on the vehicle, discount on the interest rate or special feature that you can only get if you convert to an order within a certain number of days. I could see something like that to encourage conversation in let’s say 14 or 30 days from when it’s your turn to order. Just a thought.