Did you know that not every lender will offer motorcycle loans? Did you know that some motorcycle dealers and some lenders have been known to charge and penalize motorcycle enthusiasts for wanting to own a used motorcycle?
These are just a few of the motorcycle loan issues you might run into when inquiring about financial assistance with a loan.
In most cases, online lenders will let you borrow money for up to 60 months for street motorcycles and 36 months for off-road bikes. A longer term will lower your monthly payments, however a shorter term will reduce your interest rate and the total cost of your motorcycle loan. The maximum length of time depends, on the motorcycle, your budget, and credit rating.
Perhaps you have found your dream bike or you are still shopping, having a motorcycle loan pre-approved can only help.
Remember that a motorcycle dealership doesn't always provide you with the best way to finance a motorcycle. Online loan companies, such as myAutoloan.com offer great loan rates, and in many cases, offer quick turnaround motorcycle loans to pick from. For those with bad credit, the process may take a bit more time, but a motorcycle loan is by no means out of the question.
Online motorcycle applications are fast and free. Most lending companies will offer loans on new and used motorcycles, lease buyouts and help refinance an existing loan.
So what is stopping you? Fill out an online application for your motorcycle loan today!