Motorcycle Financing - Dealer

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.

Motorcycle Financing - Get pre-approved

As boring as this is, it is in your best interest to find out just how much you can afford, and go to your own bank or financial institution first. If you get your motorcycle financing at the bank you do all your other banking with, you stand a better chance of getting a good interest rate.
They will let you know based on your income and debt ratio just how much you need for a down payment and just how much you can finance, and for over how many months or years. This way you are armed
You can then head to that showroom with the new motorcycles, armed with the amount you have to spend, and then put your efforts into getting the best sticker price deal you can get, knowing that you have the backing of the financing in place. Sometimes the dealer will give you a better deal if you are paying the total amount upfront.
Motorcycle Financing - Shop Around. You can try other financing situations or companies, but at the end of the day, you are more likely to get the best deal with your own bank. Some will consider a line of credit if you have a home.

Motorcycle Financing Tips

You have decided to get that motorcycle you have always wanted. You saw it down the street in someone's driveway, but then you got a glimpse of the shiny new ones in the showroom and you fell in love. But now you need motorcycle financing, and now begins the headaches!
Here are some motorcycle financing tips that may just save you those headaches and thousands of dollars.
I know these are not as exciting as shopping for that new motorcycle, but if you are careful you can get the best deal on motorcycle financing and not be paying for that new motorcycle for years and years.
You probably are already familiar and have done your homework on the best price and the type of motorcycle you want. You have done your homework for that part. But that can all be for nothing if you end up with the wrong motorcycle financing.