You want to get fit, but you know you’ll only stick with a program if it’s fun, easy, and convenient. So, why not join the fitness craze that’s taking over living rooms and home gyms across the country?
If you love boxing or kickboxing, or have always wanted to try it, FightCamp gives you an opportunity to do it at your own pace. While the FightCamp Gym may come at a higher price, it is a lot less expensive over the long-term than paying hundreds of dollars each month to belong to a boxing gym or take fitness classes. Plus, you get your own quality boxing equipment that's aesthetically pleasing for your home gym.
The good news is that you don’t need to pay for it all at once. FightCamp offers financing through Affirm – allowing you to pay for your gym and boxing equipment over 12 months.
How Does Affirm Work?
Affirm is a company that helps consumers finance the purchase of items through partnerships with the companies that sell them through direct installment loans offered at the point of sale.
Affirm is a financial startup based in San Francisco, and was founded in 2012 as a way to revolutionize how the banking industry offers credit to consumers. Their loans are given out through a partnership with Cross River Bank.
Buying a FightCamp Gym with Affirm’s help is easy. You fill out a quick online application in which they do a soft credit check to see if you’re eligible. The Affirm website is easy to use and straightforward. You’ll just need a mobile number to register and then the site takes you through the application. After you apply, you will find out whether you qualify instantly. At that point, you can return to the site where you were making a purchase and buy your item.
With Affirm’s partnership with FightCamp, they offer $0 down and 0% financing for 12 months or 24 months. One of the things that Affirm promises is that there will be no hidden fees to their loans so you’ll know upfront exactly what you’ll need to pay and how long you will have to pay it.
Repaying your loan with Affirm is simple. Just go to the Affirm site and make a payment, or download the Affirm app (available on the App Store or Google Play) to make a mobile payment. You can also link your bank account to send automatic payments every month so you don’t have to worry about remembering to send your payment.
Affirm accepts payment by debit card, check, or through your checking account. Some of their loans also can be paid by credit card.
Affirm does not charge a late payment fee, but late payments can hurt your credit score. If you’re struggling to make a payment on time, notify Affirm that you’ll be late and let them know when it will be coming. Not making payments on your loan without notifying Affirm could result in a chargeback. A chargeback can have a negative effect on your credit score, and possibly result in the repossession of your FightCamp boxing equipment.
Alternatives to Affirm: Personal Loans
If you don’t want financing for your FightCamp Gym through Affirm, you can also get a personal loan to pay for it. Personal loans are available primarily from banks, credit unions, and specialized loan companies. They look at your credit score and income to decide whether they’re willing to lend to you. Just like with an Affirm loan, when you take out a personal loan you do so over a specific term length and make identical monthly payments until it is paid off.
If you’re denied an Affirm loan, a personal loan might be one way to pay for a FightCamp Gym -- but the interest rate will be much higher than 0% APR. How much you pay will depend on your credit score. The extra interest charges will increase the total cost of your FightCamp equipment. Personal loan rates generally range from the mid single digits (ex. 5%) upward.
It can also be difficult to find a lender willing to lend you such a small amount. That said, one of the benefits of getting a personal loan instead of financing through Affirm is that you have the option of borrowing more money to also cover the monthly payments. Another benefit of personal loans is that you could repay the cost of the FightCamp gym over a longer term length. While a longer term length would mean that you would pay more in interest over the life of your loan, you would have a lower monthly payment.
Ultimately, whether an Affirm loan or a personal loan is right for you will depend on your personal financial situation and what you feel comfortable with.