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SEGWAY AND GE PUT NEW CONSUMER FINANCE PROGRAM IN MOTION
New Revolving Credit Program Offered by Segway Authorized Dealers
BEDFORD, N.H. – May 31, 2006 –Consumers who are considering purchasing an energy-efficient Segway® Personal Transporter (PT) as an alternative to driving can now add flexible monthly payments to the growing list of reasons to own a Segway PT.
Segway Inc. and GE Consumer Finance’s Retail Sales Finance unit today announced a new multi-year relationship to provide revolving financing on the purchase of Segway PT and accessories under GE's FUNancing Card program. The program is available beginning June 1st at any participating Segway Authorized Dealer in the U.S.
The FUNancing program will allow customers to enjoy reasonable monthly payments, competitive interest rates and seasonal financing programs on the purchase of Segway PTs and accessories. For example, on a $4,995 purchase of a Segway PT i180 model, the minimum monthly fixed payment would be $125 (2.5% of the $4,995 purchase¹).
“With gas prices at an all-time high, people are taking a second look at alternative transportation options like the Segway PT. GE gives customers a convenient way to purchase a new Segway PT for manageable monthly payments, while owning a Segway PT gives them the opportunity to save money by avoiding the expense of gas, insurance and traditional maintenance,” said Jason Barton, vice president of sales, Segway Inc. “This relationship will make Segway products more accessible to our customers at a time when people are eager to explore more energy-efficient modes of transportation.”
The unique value proposition of the Segway PT has led to increased adoption by both consumer and commercial customers alike, resulting in an average growth rate of more than 50 percent for Segway Inc.
The Segway PT is a zero-emissions, electric transportation device that gives people a real alternative to the car for short-distance trips that are too far to walk and too short to drive. The Segway PT is electric, emits no pollution and has the energy efficiency equivalent to 450 miles per gallon. The Segway PT goes up to 24 miles² on a single battery charge and costs only pennies per mile to operate.
¹The monthly payment amount is the estimated, first required minimum monthly payment if you purchase this item using your FUNancing Consumer Credit Card. The amount of subsequent minimum monthly payments will vary and will depend on various factors affecting your account balance, such as (a) the timing and amount of your payments, (b) the interest rate on your account, and (c) whether any fees or other charges are added to your account. The more you pay each month, the quicker your balance will be repaid and the lower your total finance charges will be. If (i) you pay only the minimum payment on the due date each month, (ii) your purchase is not on a financing promotion, and (iii) your account has no other activity or changes, it would take approximately 60 months to pay off this item only based on a tier 3 approval and based off of the $4,995 in the example above.
²Range varies by model, terrain, riding style and payload
About Segway
Segway Inc. develops intelligent motion control technology known as Segway® Smart Motion™ that is embedded in the light electric transportation devices it manufactures, such as the well-known Segway® Personal Transporter (PT). Segway Smart Motion provides intelligent motion control that enables a device to monitor its environment, control its motion and make decisions about how it should move.
Segway markets a full line of zero-emissions Segway PTs for sidewalk and cross-terrain use that deliver impressive energy efficiency – equivalent to 450 miles per gallon/191 kilometers per liter of fuel. The company’s line of Segway Robotic Mobility Platforms (RMPs) offers reliable, durable mobility solutions for robotic applications.
Segway Inc., based in Bedford, N.H., U.S.A, has a worldwide distribution network of more than 250 retail points in 61 countries. For additional information about Segway and to find retail locations, please visit www.segway.com or call 1-866-4SEGWAY. Media materials and digital images are available at the Segway Press Center.
