Upcoming Articles and Features:
. How to get a motorcycle loan
. Where to find the best deals on motorcycle loans
. Negotiating for the best rate on your motorcycle
loan
. Getting a private motorcycle loan vs. using the
dealer
. What you should know before getting a motorcycle
loan.
. How to examine and identify hidden fees in your
motorcycle loan.
. Should you pay off your motorcycle loan off early?
. Fixed vs variable rate motorcycle loans.
. Getting a motorcycle loan for a new vs used bike
. What to do about your motorcycle loan when your
bike is trashed.
. Where to find the best rates for your new bike
loan.
. Knowing how your credit rating affects your APR
Loan Rate.
First of all, check your credit rating. These
factors will determine your loan APR. Your age, down
payment, credit rating. If you don't have a good
credit score, try to find a relative or good friend
to co-sign for you.
Buying Your Bike
Now that you have decided on what style of
motorcycle you will be getting, you have to find a
place that sells it. Now there are several choices
for you to ponder. You can either go new or used.
Here we will give you a rundown of your options.
Dealerships
Dealerships are an obvious choice if you are going
to buy a new motorcycle. Actually its probably the
only place that would carry straight from the
factory new motorcycles. Good advice is to shop
around and look for motorcycle only dealers with
sales reps that know what they are talking about. If
you feel the sales person is trying to rip you off,
then they probably are.
Something that you want to keep in mind before going
to your local dealer is that you have to go
prepared. Look up information on the bike you want
to buy. Does the bike have different models? What is
it's invoice price? What is the MSRP? If you know
the answer to these questions you will feel
confident that you are not getting ripped off.
People make the mistake of going to a dealership not
knowing anything and taking the sales person advice.
Some may be telling the truth but in most part they
are just pulling your chain.
Don't get me wrong, sales people can be very helpful
when choosing a bike, but finding a helpful sales
person will be a challenge. Try to make sure your
sales person is as much a fan of motorcycles as you
are. Ask motorcycle specific questions and based on
his or her answers you will know if they are a
motorcycle fanatic or not.
Service Departments
After you have found a good sales person to help you
with your shopping, you have to see how their
service department is. There's no point in buying a
motorcycle at a dealer if their service department
stinks. When buying a new motorcycle you usually
have to go with the warranty that is provided from
the dealership. Most dealerships are skeptical about
covering warranty claims from other dealers. If you
buy a used motorcycle for a good price you can just
take it to any repair shop that you trust.
A good way of finding out what shops are good an
which ones are bad is asking bikers. Motorcycle
riders that have been riding for a while know where
to go and where to avoid. Try going to local
hangouts for motorcyclist and start asking around.
If they tell you to avoid a certain place, listen to
them. They are usually talking from experience.
The Classifieds
The newspaper classifies are another place to locate
some great bikes. It is a lot harder than buying a
new or used bike from a dealer because unless you
know much about motorcycles, the condition of the
particular bike you are looking for maybe unclear.
Try to use precaution when buying from a private
party. Once again, shop around and find out what the
ballpark price on those bikes are. Talk to the
owner, most of the time they will be upfront with
you and let you now what's going on. Motorcycle
riders tend to love their motorcycles more than life
itself. They take a lot of pride in it so you'll
feel safe your getting what you are paying for.
Another private party you can look at when
purchasing a used motorcycle are the bike clubs
again. Bike club members trade bikes more than we
trade cell phones. They usually tend to be more
passionate about their bikes as normal motorcycle
riders. In a club, your motorcycle is a reflection
on you. The way they treat their motorcycle will be
criticized and examined on a constant basis so you
know it will be in almost excellent condition.
Hope this quick rundown gave you some insight as to
how to prepare when looking to buy a motorcycle. If
the deal sounds too good to be true, chances are it
is.
----
Depending on where you buy your motorcycle, it'll
determine how or what type of loan you get.
Dealerships offer loans, but their APR may be
higher.
Banks are another choice. Check the web, and have
finance companies compete for your business. Check
with your local credit union. Many of them offer
extremely competitive rates!
Shop around, do your homework and don't rush.
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