If you don't feel your bank or credit union is the best place to get your financing, then you can talk to the dealer where you want to purchase your new motorcycle. But put on your calm hat! They will usually talk to you about financing pretty well beside that brand new shiny motorcycle, they know what they are doing!
They want you to jump at what they offer, but please read the terms. Do not just jump for that bottom line to sign when they say they have approved you. Find out the terms. They could be offering a great deal, just make sure you understand it now, and are not questioning it a year from now when that newness has worn off.
Ask these questions and make sure you understand the answers!
Can I pay this financing off at any time?
If they say NO, that it is a set amount of payments, this means they are guaranteeing their interest they are charging. So there will be no incentive to pay it off, but check the interest rate, you could be paying a lot more for that motorcycle than you planned. Ask what the final payout will be.
They want you to jump at what they offer, but please read the terms. Do not just jump for that bottom line to sign when they say they have approved you. Find out the terms. They could be offering a great deal, just make sure you understand it now, and are not questioning it a year from now when that newness has worn off.
Ask these questions and make sure you understand the answers!
Can I pay this financing off at any time?
If they say NO, that it is a set amount of payments, this means they are guaranteeing their interest they are charging. So there will be no incentive to pay it off, but check the interest rate, you could be paying a lot more for that motorcycle than you planned. Ask what the final payout will be.