Frequently Asked Questions
How easy is it to apply?
- Very easy! Online applications only require basic information and you can receive an approval in seconds.
How much will I be approved for?
- Depending on your application details, we can approve you between $300 and $5,000
What if my total order cost is greater than my approval?
- You can finance up to the full amount of your approval. If your order cost exceeds your approval amount, you will be required to pay the difference to the Ammo Ready retailer.
What type of financing is offered?
- Credova is partnered with a network of financing options that offer retail installment sales contracts (RISCs) and/or closed-end consumer lease agreements.
What is the difference between a RISC and a closed-end consumer lease agreement?
- With a RISC, you are purchasing the item and agreeing to make installment payments over a specific term plus any associated interest rate. A closed-end consumer lease agreement doesn’t have an interest rate, but rather charges monthly leasing fees. With a closed-end consumer lease, you are leasing the item/s from a lessor and have the option to purchase the item during the course of the lease.
What are the leasing fees?
- If you choose to finance with a company offering a closed-end consumer lease, with each monthly payment, you will pay leasing fees. These fees represent the premium charged by the lessor for allowing you to lease an item and will vary depending on customer approval information. Please review your offer/s carefully prior to completing your agreement.
What is the Interest Rate?
- The interest rate is the amount charged, as a percentage of principal, by a retailer to a customer for the ability to pay for an item over time. This is often expressed over an annual basis commonly referred to as the annual percentage rate (APR). With a RISC, the system considers more than just your credit and your interest rate will vary based on the information provided. Please review your offer/s carefully prior to completing your agreement.
Am I locked into my financing contract for the full term?
- Not at all. Whether you are using a RISC or closed-end consumer lease, you can payoff your balance at anytime and there are never any prepayment penalties!
What Information do I need to apply?
- Open/Active checking or savings account
- Government issue photo ID
- Email Address
- Social Security Number
- Income/Employment information
- Phone Number and Address
How often are payments made?
- Payments are made on a monthly basis.
When will my purchase be shipped to me?
- Please keep in mind, any firearm purchase must be shipped to your local FFL dealer rather than your home address. For shipping timing and tracking, please review the retailer’s policies.
How much do I have to pay today?
- Depending on the type of financing selected, you may be required to complete your first payment at the time of signature whereas other financing products will not require a payment for at least 30 days. If required, you will be able to complete your first payment at checkout.
Can I finance a firearm if I am out of state?
- Yes, you can finance a firearm out of state. Certain restrictions may apply. Please be aware, all purchases must be picked up from your local FFL dealer.