Before You Visit A Dealer Read Our Motorcycle Financing Tips Click Here For Financing Tips

I was thinking over the weekend that it is probably a good idea to provide a quick summary of motorcycle financing providers. For those of you who are looking for a motorcycle loan here is a quick summary of the most popular options in the industry:

Motorcycle Dealers - Motorcycle dealers provide motorcycle financing typically through GE Capital or HSBC Bank. Most motorcycle dealers have two financing option which are private label credit card financing or installment financing programs. These financing programs are co-sponsored by the manufacturer like Suzuki, Honda, Kawasaki, Harley-Davidson etc… although sometimes motorcycle dealer issues loans directly with the GE Capital or HSBC Bank. Dealers may also use Honda Finance or Harley-Davidson financing since these brands have their own financing arm.

Local Bank Or Credit Union - Finding a motorcycle loan at your local bank or credit union is an option and is typically in the form of an installment loan or personal loan. Sometimes your local bank or credit union may offer a better rate than the motorcycle dealer you which to purchase from. However, watch out for extra fees charged by bank or credit unions because sometimes these fees eat up all of the interest savings.

Online Motorcycle Loan: Online motorcycle loans are offered by national banks and lending providers. Typically because the Internet is a very price competitive environment, online motorcycle lenders offer some of the lowest interest rates and best terms available on motorcycle loans. The Internet also makes it easy to shop interest rates so that you ensure you find the lowest rate and terms available. Overall, the online motorcycle loan process is pretty easy and straight forward. You simply submit a no obligation online application and once you are approved and agree to the loan the lender can send you a cashier’s check usually within 48 hours. Here are two of the best online motorcycle lenders on web!

Motorcycle Loans At LendingTree.com

ELoan.com - Motorcycle Financing

Posted by Administrator as Financing - Loans at 12:59 AM PST

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For those of you who do not follow the motorcycle financing market on a daily basis, I guess I should let you know that motorcycle loan rates are on the rise. Therefore, if you are looking to purchase a new motorcycle with financing now is probably a better time than later.

Since the Federal Reserve started to increase interest rates over the last 18 months, motorcycle loan rates have begun to creep up. Just 12 months ago you could get a 60 month online motorcycle loan from Eloan at around a 6.5% interest rate. Today that same 60 month new motorcycle loan will be at an interest rate of roughly 8%.

With the Federal Reserve recently indicating that inflation is at the upper end of its tolerance range chances are further interest rate increase are likely into the foreseeable future. What this likely means for you is higher motorcycle loan rates.

Even manufacturers who run heavy motorcycle financing promotions have begun to increase their promotion rates. For instance, in 2004, you could have purchased a Yamaha motorcycle or Atv on the Yamaha credit card for 4.9% for 24 months. Today that same promotion on the Yamaha credit card is 6.9% for 24 months.

Overall, be aware if you are looking to finance a new or used motorcycle, the rates offered today will most likely be higher in the near future.

Posted by Administrator as Financing - Loans at 12:55 AM PDT

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It took me a while to customize my template, but I finally got wordpress up and running. I now have my very first motorcycle blog. Welcome. This is my very first blog post ever. The focus of my blog will be around motorcycle and atvs including motorcycle financing tips, motorcycle news, industry information, and reviews. From time to time I will post general information on financing topics just to provide a broader knowledege of the financial services industry which may help you get a better motorcycle loan.

Posted by Administrator as Motorcycles General at 1:53 AM PDT

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