Motorcycle Dealer Financing

[hal]

Anyone have thoughts on motorcycle dealer financing? Looking for some input, or should I look at using a private bank?

[chuckster]

Depends how much you are borrowing. I would never use motorcycle dealer financing for a large loan, but if it were a small investment it may be fine. With a private bank loan you'll almost always get a better rate on financing a motorcycle or anything else. I believe the dealerships actually make money on the financing.

[Team_BTAQ]

Go with private bank and get pre-approved for a motorcycle loan whenever possible. It's easier when you get to the dealership. And it takes all the salesmanship out of the financing part of buying a bike.

[kennhurr]

Make sure you always get pre-approved for a loan before visiting a motorcycle dealership. This helps you understand your budget and strengthens your negotiating position with the dealership. Remember these salesman are ready for you!

And make sure you know your credit score. Your credit score significantly impacts the interest rate you'll receive. Check your score before hitting the dealership and attempt to address any credit issues.

And definitely don't settle for the first loan offer you receive. Make sure you compare rates and terms from more than one bank, credit union, or online lender so you can compare with the motorcycle dealer financing.

You have to take as much time with the financing as you do choosing the right motorcycle otherwise you'll be sorry.