Motorcycles Information

Common Mistakes Motorcycle Buyers Make When Looking For a Motorcycle Loan


Whether interest rates are high or low or it's the end of a model year with lots of incentives, motorcycle buyers tend to make the same mistakes when shopping for a motorcycle loan. Here are four common mistakes motorcycle buyers make with motorcycle loans.

Shopping for a motorcycle before shopping for a motorcycle loan.Many motorcycle buyers enter the showroom looking for a motorcycle before they determine how much money a motorcycle lender is willing to loan to them for the purchase of a motorcycle. There is no need to shop for a $20,000 Harley Davidson motorcycle, if a lender is only willing to provide a loan amount of $10,000.

Additionally, once motorcycle buyers enter the showroom slick salespeople often pressure them into motorcycle loans with much higher internet rates than they could have gotten had they shopped for a motorcycle loan at a bank, credit union or online. Salespeople do not like motorcycle buyers to leave the dealership to get a motorcycle loan. In the salespersons mind this only increases the chance of loosing a sale and commission. Therefore, salespeople frequently try for a quick sale which normally results in pushing motorcycle buyers to get motorcycle financing at the dealership.

The bottom-line is that it is always best to shop for a motorcycle loan before entering the showroom.

Diving into the unknown motorcycle loan.Motorcycle buyers often jump into motorcycle loans that they do not completely understand or may not be the best alternative for them. For instance, in today's age manufacturers frequently run credit card motorcycle loan promotions on their private-label credit cards. But these promotions typically offer a low interest rate for a short term like 12 or 24 months and have a much higher interest rate after the short promotional term. On a credit card promotion if motorcycle buyers can not afford to pay off the loan during the short promotion period, then they are typically better taking a slightly higher interest rate on an installment motorcycle loan for a longer term.

Borrowing too much.

The most common mistake the first time motorcycle buyer makes in not having a clear sense of how much motorcycle they can afford. This is especially true for young motorcycle buyers who look to buy the top sport bikes that cost up to $10,000 - $15,000. What they fail to realize is that financing a $10,000 - $15,000 motorcycle can stretch them to thin, resulting in them having little cash to enjoy themselves and the motorcycling lifestyle. They may also have too little cash to pay for insurance, maintenance, registration or new accessories for their motorcycle.

Not asking the right questions.

The first warning sign that motorcycle buyers should see is that if they do not understand the type of motorcycle loan, then they should be sure to ask a lot of questions.

Here are some good questions to ask:

? Is the interest rate fixed or variable? If fixed how long will it be fixed for?

? Are there circumstances that can make the interest rate on the motorcycle loan change in the future?

? What happens if a payment is 30 days late? Does the interest rate increase?

? What happens if a payment is 60 days late? Does the interest rate increase?

? How long is the term on the motorcycle loan?

? If the loan is an installment loan, does it use rule of 78 or simple interest? (Simple interest is always better because it does not penalize the motorcycle buyer if the loan is paid off early.)

? What is the down payment requirement to get the motorcycle loan?

? Is full coverage insurance required?

? How much is registration and are these fees included in the motorcycle loan?

? Are there any administrative fees to get the motorcycle loan and if so how much are the fees?

Overall, motorcycle buyers can avoid these common mistakes by spending a little extra time focusing on shopping for a motorcycle loan and asking lots of questions.

Copyright (c) 2004, by Jay FranThis article may be freely distributed as long as the copyright, author's information and an active live link to http://www.motorcycle-financing-guide.com is published with the article.

A complimentary copy of any newsletter or a link to the site where the article is posted is greatly appreciated.

Jay Fran is a successful author and publisher at http://www.motorcycle-financing-guide.com. A comprehensive resource on how to have the best experience and get the best deal on motorcycle financing, bad credit motorcycle loans, high risk motorcycle loans and motorcycle buying.


MORE RESOURCES:
Automotive:Motorcycles Articles from EzineArticles.com
12/27/2017 03:27 PM
How to Remove Rust From a Motorcycle Gas Tank
Did you buy an old motorcycle for a fun project only to find that the gas tank is full of rust? Don't sweat it, with some time and elbow grease it can be as good as new.
12/21/2017 11:18 AM
The Advantages of a Motorcycle Track Day
Motorcyclists can be obsessed about two wheels since their childhood and it grows stronger with time. No doubt that motorcycle riding experience is always a blend of adrenaline, excitement and fun simultaneously, and a motorcycle track day is an event for the motorcycle riders around the world.
12/08/2017 08:17 AM
Buying Biker Accessories? Here's a Guide You Should Follow
There is no denying the fact that riding a bike is truly a phenomenal experience, whether you are a commuter or just riding for pleasure. But before you plan your next weekend bike ride, you need to acquire several equipments and for that investing significantly is essential. Sure, you might argue that investing heavily on the bike is most important, the reality is quite different. Getting a good bike which you are compatible with is important but even more so is the accessories you choose.
11/10/2017 02:25 PM
Top Online Sites to Buy Riding Gear
Do not call yourself an avid rider unless you have all of these riding gear. Check out what riding gear are and where to find the best online deals.
11/10/2017 10:36 AM
The Trouble With Riding With New Groups
So had planned a lovely day out a while ago with a group of riders that I haven't spent a lot of time out riding with Before the ride the Admin and owner of the Facebook group that I had become a member of wanted to go to the seaside and had chosen Hunstanton as the destination, I was asked if I could plan a route and lead the ride, I can only assume that they believed myself to be a competent rider that could safely get everyone to the destination, and also the group had 1 maybe...
11/10/2017 10:30 AM
Group Riding for Beginners
Now when I say group riding I bet some of you are imagining a scene from a film that has about a hundred bikers all heading down the road side by side? Well this isn't always the case, but whether it is 2 motorbikes or 100+ you have to consider lot of different things Some some simple tips for riding in a group. The first thing I always tell people is, NEVER ride out of your own comfort zone, do not try to keep up with someone if it makes you feel nervous, ride...
11/08/2017 07:56 AM
Things to Consider When Picking the Best Motorcycle Helmet
Do you own a motorcycle? If so, you know that riding this two wheeler provides a phenomenal experience. When it comes to riding a motorcycle, safety should be our number one priority. After all, you can enjoy life only when you are alive. Therefore, nothing can be more important than wearing a helmet before leaving for a journey on your bike. Before you get your hands on a helmet, make sure you do some research. Below are some helpful tips to help you.
10/24/2017 08:16 AM
The Very Basic Checklist For A Motorcycling Trip
Are you a fan of mean speed machines that set the pulse racing? Then there could be few adventures as fulfilling and exciting as a motorcycling trip down a trodden trek which is known to delight! Nevertheless, you must make sure that you get it right right from the word go. Let's run through a checklist that you must bear in mind before hitting the road for that much longed for road trip with your friends.
08/25/2017 11:29 AM
Can a Founder Be Dismissed From the Motorcycle Club?
Is an MC founder above the law? Can he be disciplined by the MC and even dismissed from the MC? If so, does he have the right to lay claim to the name of the club and prevent members from using that name? Black Dragon investigates this subject.
06/16/2017 12:03 PM
3 Steps to Clean Your Leather Motorcycle Jacket
Regularly cleaning a leather motorcycle jacket is an essential process to keep it looking its best. Leather suites, boots, trousers and jackets can cost literally thousands, so it is worth a little extra time and effort to help maintain the beautiful finish.
05/23/2017 01:58 PM
How Can New Motorcycle Gear Improve My Ride?
To try to solve the problem of motorcyclists getting into crashes, Troy De Baca devised an invention. However, he's not the only motorcyclist to come up with a high-tech solution to this very serious and common problem.
05/17/2017 08:53 AM
How to Compare Bikes Suited for You - Decoded
We want to own a stunning bike, but where do you even start from? What bike would you choose first? It is never going to be easy, but the option to get all of this on your list is spot on.
05/01/2017 09:07 PM
5 Things You Should Know About Motorcycle Clothing
Motorcycle clothing equipment by virtue makes riding a more safe and comfortable experience that cannot be achieved without the proper gear. What riders have to understand is that their safety is entirely in their hands as motorcycles do not have safety measures like air bags in cars. This is exactly why it is imperative that every biker equips themselves with essential motorcycle apparel and reduces the risk of injury.
03/12/2017 05:52 PM
The Essentials for Winter Motorcycle Riding
It is a well known fact how difficult it is to ride a motorcycle in winter. Some motorcycle riders dread even short rides on his or her motorcycle during the season due to the fact that the cold intensifies on a motorcycle. As a result, keeping a grip on the throttle becomes next to impossible while the snow makes it difficult for the rider to navigate with ease.
02/09/2017 08:57 AM
It's Important to Know Everything Before Looking for the Perfect Decal Graphics
It is a truth universally acknowledged that a man in possession of a bike must be in want of decal graphics. Because they are amongst the most important adorations for a bike. They can make the bike look more attractive and presentable than it initially was.
01/03/2017 02:58 PM
Motorcycle Safety Myths
Whether you are a new rider or you have been riding for many years, you may have heard - or may even believe - some of the much-circulated motorcycle safety myths. If you take actions based on those myths, some of them could get you injured or even killed.
12/27/2016 07:59 AM
Street Bikes, Speed and the Visual Rush
Nothing much compares to the adrenaline rush of a street bike 'crotch rocket' motorcycle. It's like you own the world at your wrist and feel the full power of your will - you think, it goes, it becomes an extension of your 'need for speed' and if you've never tried it, this might sound a bit corny, but once you have you'll agree. The other day I was discussing my love for motorcycles with a member of our think tank. Turned out he had experience with raced out street bikes himself.
12/02/2016 09:46 AM
Harley Davidson Is Our New Emperor Of The Roads
Here's to our beloved Harley Davidson bikes who has successfully seduced the bike lovers to a level of madness. This mean machine proves to be the Father of speed and style and is the standard status symbol for high profile population.
11/15/2016 08:25 AM
When to Contact a Motorcycle Accident Attorney
Are you a motorcycle rider? If so, you need to know that there is a saying that it's not if you're going to have an accident, it's when. There are two kinds of cyclists - one who has had an accident, and one who hasn't had one yet. Not very encouraging if you get around on two wheels.
11/14/2016 10:59 AM
How to Apply Graphics and Decals on Your Bike
Everyone loves their bike and it is unlikely to find someone who will not like to accessorize and modify their road beasts using decals and stickers. How cool will a graphic kit will look on your bike, right?
11/14/2016 10:51 AM
Top 5 Best Bike Helmets Under AU$150
Bike riding is a great fun, without any doubt, but how to make it protective should be your main concern. Well, without having the best quality helmet, you can't ride with full of confidence. A helmet that can keep your head free of any shock or bump. Following is a curated list of top 5 bike helmets. These helmets not only give ultimate protection but can also be purchased under AU$150. So if you are searching for cheap online shopping in Australia for this biking equipment, then you have arrived at the right place.
11/09/2016 03:57 PM
7 Reasons Why You Should Start Riding a Motorcycle
Some people like to walk, some people like to run and some people, like me, love riding a motorcycle. Here are my top 7 reasons why you should consider riding a motorcycle.
10/24/2016 03:36 PM
Investing In A High Quality Oil Cooler For Your Bike
If you are a bike enthusiast, you know that proper maintenance is very important to ensure optimum functionality. Just like any piece of machinery, bikes need proper care and maintenance especially if you plan on riding yours for a very long time. You need to make sure that all parts are in good condition.
09/14/2016 09:41 AM
Rev Up Your Style With Motocross Clothing
If you are into extreme sports such as motocrossing, or dirt biking, then you know that while safety is of paramount importance, so is a style! The adrenaline rush that dirt biking provides is as real for the biker as it is for the spectator. Just as any superhero worth his salt wouldn't dare to go out in public without his superhero costume, a dirt biker isn't the same without kick-ass motocross clothing! This is as exciting for the biker as it is for the spectators to evoke the vibe of danger with thrills.
08/30/2016 10:05 AM
Top 10 Best-Selling Motorcycle Brands
In addition to the Japanese Big Four (Honda, Suzuki, Kawasaki, and Yamaha), the list of top-selling motorcycle manufacturers includes companies based in Italy, the U.S., Austria, and the UK. Honda - Honda's motorcycle division sells more than 15 million motorcycles annually, which makes it world's leading manufacturer. One of the factors driving the company's sales is its popularity in Asian markets. Yet Honda also dominates in North America.
08/26/2016 12:34 PM
The Need To Invest In A Quality Oil Cooler For Your Bike
Owning a bike is actually not that easy especially if you do not know proper bike maintenance. The general consensus among other motorcycle owners who are active on online forums is: Yes, you need to invest in an oil cooler system. Those who may not totally agree on this matter say that you will need to consider a few factors first.
08/23/2016 11:52 AM
How to Select the Right Dirtbike Graphics
There is hardly an owner of a dirtbike who would let it stay plain and without any artwork on it. Graphics are the signature of the biker's personality and attitude and that is why they are so generously applied on the bikes.
08/17/2016 03:17 PM
Proven Reliability of the Zongshen Cyclone RX3
The dependability of the Zongshen Cyclone RX3 is without question. Not only has CSC Motorcycles subjected the motorcycle to torture tests in real life touring, but tens of thousands of adventure riders around the world have also proven its reliability. There is a growing and devoted "cult of the Zong" related to this motorcycle because it not only works but it outperforms motorcycles that cost two to five times as much for a comparable fully-equipped touring package.
08/12/2016 11:41 AM
Ducati Monster 821 - Review
Ducati has recently come out with its new product Ducati Monster 821. It has a number of features that are loved by the die-hard fans of the Monster. This article just tries to list out some of the features that stand apart from other brands in the same segment.
08/04/2016 10:59 AM
Bike Safety - Every Rider Must Read
Motorcycles have been growing in popularity as humans discover that they're not for recreational (fun), but a great and a cheap way to travel from one place to another. Yes, motorcycle may be answer to your daily commute, but can be life threatening, if serious precautions are not taken before (or while) riding it.
07/26/2016 07:38 AM
How To Take Care Of Your Motorbike
For your motorbike to last for long you need to take good care of it. To help you out here are the areas that you should focus on to ensure that your bike is in its best condition: The engine oil lubricates your gears, engines and also keeps your engine cool. When the oil gets too thin it doesn't lubricate the parts properly. It also doesn't cool the engine properly. You should regularly change the oil to avoid damaging your engine. To ensure that you change the oil at the right time you should regular take your motorbike to the garage and have it checked. The owner's manual also has a guide on how frequently that you should change it.
07/22/2016 03:47 PM
Biker Gloves
Motorcycle gloves are by far one of the main purchases you need to do when you prepare for a long run with your bike. The motorcycle gloves are a special type of gloves designed for motorcycle usage. They have a soft padding to protect your palms but they do offer a great external protection.
07/15/2016 04:00 PM
Details on Motorcycle Battery Life
There are different things that you need to know about your new motorcycle. You want to know how fast it can go when you are on a highway but of course, you still need to follow the rules in the area so that you will not have any issues.
07/15/2016 08:53 AM
Popular Softail Parts That Make Trips Safer And Better
In order to make Softail bikes better, it is best to invest in essential parts. Because of this, riding motorcycles can be more exciting.
07/13/2016 11:12 AM
Common Mistakes When Purchasing A Dirt Bike
When buying a dirt bike, it is important to be careful in order to avoid mistakes. In this way, you are rest assured that your investments are worth it.
07/13/2016 09:27 AM
Biker Rain Gear
Sometimes riding in the rain isn't fun, but with the right biker rain gear, the journey can be enjoyable and a new experience for you. The most important point; get the right rain gear.
07/13/2016 07:45 AM
Top Tips From a Motorcycle Accident Attorney
Motorcycle accidents are hard to take to court. They often produce serious injuries. Some victims believe there is a bias against them and they are judged harshly because they are not riding in a car. Due to the complexities of motorcycle injury accidents it is important to contact a personal injury claim lawyer to help you with the legal complexities of the case. A motorcycle accident attorney can offer good advice to victims.
06/29/2016 11:14 AM
Mobility Scooters: What They Can Do For You?
It was Mr. Allan R Thieme who first invented mobility scooters. In this tech savvy age it is definitely an exciting and fascinating invention made by an entrepreneur who tried to make life comfortable and easy for the aged and the disabled people.
06/21/2016 04:15 PM
What You Need to Know About Motocross Helmets
Motocross dirt biking is a sport that has its fair share of fans and participants the world over. Since the terrains are very rough and tough, it follows that the riders must protect themselves from any unfortunate accidents or falls which can cause serious injuries. One of the most important elements of the safety gear for motocross riders is, of course, the motocross helmet.
06/15/2016 01:11 PM
What Kind of Motorcycle Rider Are You?
There are two kinds of motorcycle riders: those who have had an accident, and those who will have an accident. Which one are you? Riding a motorcycle is inherently more dangerous than other modes of transportation.
06/08/2016 12:58 PM
The Importance Of An Oil Cooler Upgrade For Your Motorcycle
For many motorcycle owners, proper maintenance of their ride is a very important thing. A lot of motorcycle owners make the mistake of thinking that motorcycle engines overheat simply because of the ambient air temperature. Many think that an air-cooled engine will suffice in keeping the engine cool.
05/12/2016 08:50 AM
5 Questions to Ask Yourself Before Buying a Bike
Every single person in this world will obviously love to own a motorbike. However not everyone can afford it. However once a person can afford it, he or she takes the next step to go forward and make that great purchase.
04/07/2016 12:09 PM
Why and How to Dress As a Biker Lady?
A motorcycle rider is not only characterized by the bike he rides but also by the gear he uses. In an attempt to get away from the monotony, motorcycle riders choose to explore new places and participate in activities such as mountaineering, pedestrian-ism and motorcycle riding. As a matter of fact, motorcycle riding is now regarded as the most popular fun activity by the residents of the United States.
04/05/2016 03:26 PM
What Are the Benefits of Cargo Motorcycles?
The three wheel cargo motorcycles are a versatile piece of equipment to simplify the process of making a wide range of deliveries. With a maximum speed of 25-80 kilometers per hour, these motorcycles have the ability to cover a lot of terrain while still traveling in the more compact and easy to maneuver vehicle.
03/29/2016 04:16 PM
3 Steps to Build a Motorcycle Exhaust From a Perforated Filter Tube
A perforated filter tube has many uses. One of the most interesting is a custom muffler for your motorcycle.
03/25/2016 09:45 AM
Australian Motorcycle Trips
Being such a vast, flat and open country, Australia is the ideal place to go on road trips; especially by bike. There is so much to explore, so many different places to visit and so much to see and do. In this article we'll take a brief look at some locations for Australian motorcycle trips and what's on offer.
02/25/2016 07:37 AM
Locating and Working With Motorcycle Dealers in Your Area
Motorcycle dealers are like car dealerships. Like buying a car, there are some things to consider before you commit to doing business with one.
02/04/2016 10:08 AM
Care And Maintenance Tips For Your Dirt Bike This Winter Season
Before you get ready to relax and enjoy the cold season in the comforts of your home, if you own a dirt bike, you should take the precautionary steps to make sure your motorcycle is properly protected and stored this winter season. Below are some useful dirt bike care, maintenance, and storage tips you can follow this winter season.
01/18/2016 11:11 AM
Things You Need To Check Before Riding Your Dirt Bike
Checking your bike before riding it is important to avoid accidents. Checking the bike also allows individuals to make sure that their investment is safe.
01/15/2016 03:16 PM
New Or Used Motorcycles: Which Is the Right Choice for You?
Buying new or used motorcycles can be an investment. You'll want to be sure to make the right choice for your budget, lifestyle, and long term goals.


home | site map |