Motorcycle Loan Financing?

[Anonymous]

Hello all,

I know there is a wealth of information for car financing, which I have read and absorbed for the immediate future.

I wanted to know if there was any information any leasing or financing other kinds of vehicles, such as a motorcycle.

I've had an eye on a cruiser that I've so dearly wanted, but safety issues aside, I have no idea if the process for financing a motorcycle is the same as car leasing, so I've held off.

Does anyone on the Forum have any experience dealing with motorcycle financing?

[Anonymous]

It's really not much different than being at a regular car dealership. The finance office will send your application to a few different banks and see what they get for calls.  And of course you could always go in with your own financing. 

[Watchmann]

Most manufacturers have specific financing deals for their new bikes, otherwise many owners couldn't get financing as traditional banks tend to shy away from motorcycle loans.  They tend to be pretty good rates (under 5% if your credit is good, sometimes even lower).  I have not heard of any bikes being leased, it's a strictly sale product.  Go online and see what your manufacturer is offering for the type of machine you are interested in.  After that have a chat with the dealer of choice and see if you can make 'magic' happen. 

[Anonymous]

I bought an Older Harley Road King back in February. It was a private sale but I used the Harley-Davidson Financial Services Seller's assist program. Basically If it is a Harley, and its a private seller, a number of dealerships will provide the financing. HDFS or EagleMark is who they use.

I have pretty bad credit and I got approved but the interest rate was horrible. I "justify" it because my monthly payment is about what I save in Public transportation costs each month.

Now as my credit gets better, I am wondering if I will be able to refi and a much better rate.