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Best way to finance?


Devils Advocate

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Looking to get myself a new bike this summer, as Watching everyone riding by is enough to torture a former bike owner to death. I'm wondering what would be the best way to get a loan for the bike... Should I go to a bank and get a loan from them, or should I finance the motorcycle through the dealer, using their bank? I would almost certainly be purchasing a bike from Classic cycles (unless I find a hell of a deal on a privately owned steed), and am looking to spend no more than about 6k. Thanks in advance, guys.
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:D

 

When I was looking at getting a dealership bike, the main thing I looked at was there finance deals they had going on. It all depends on who is willing to give you money.

 

I got my finance throught the bank and I ended up paying the same amount through the bank as I would of the dealership.

 

Also if you take out a $6000 loan for a bike from the bank, walk into a dealership with that cash you can usually get a few hundred dropped off the price because you are paying them cash, insted of payments over years.

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Saw Marc's post / Ok, here's my suggestion =

 

1) Dlrs typically like to do the financing because they get "participation / $$" from the lender. The days have gone by where you get better deal because you already had the cash -

2) if you have a decent established credit record, the rate the dlr gets you is normally as good as you'd get going to the Bank yourself

3) if you have limited credit history & or bruised credit history, coupled with purchasing bike / you aren't going to like the rates even if you get a left handed approval!

Hope that helps --

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