This is for members of Bikerswin.com you can join for free click here
|
|
|
|
|
This is for members of Bikerswin.com you can join for free click here
|
|
|
|
|
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 Fran This 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:
Google News |
|
|
|
RELATED ARTICLES
Ghost Minimoto Moto GP Reps - What Are They? What are Mini moto's? A Minimoto is a miniature version of a real GP racing motorcycle; it just doesn't go as fast as one. There pocket bikes are available in many different makes and styles, many of which look just like real racing bikes but in a miniture version such as those found on GhostRacingSeries website. Fuel Cells Motorcycles, Trucks, Tanks, ATVs and Fire Hazards from Heat Exchanges We have heard a whole lot of talk about fuel cells and of course it is a worthy endeavor. Portable generators, cars, transportation industry, Power generators, Ships, etc. Auctions and Car Transport: Everything You Need To Know Everyone has wanted to sell a car at some point and in the age of Internet auctions, there are more options than ever when it comes to selling your car whether it's an '05, '78 or a '20. With this ever expanding world of options comes the need to make delivery after you've sold the vehicle and that requires a car transport service. Motorcycle Suspension: - A Troubleshooting Guide Trouble Shooting Suspension Problems.Adjustment locations: ForksRebound adjustment (if applicable) is located near the top of the fork. Honda Super Cub and 50cc Honda Cub - The Volkswagen Beetle of Motorcycles! A very clever design: the Honda Super Cub was the combination of a moped and a scooter. It attracted many people due to its friendly and non intimidating look. Mini Moto Mayhem Mini Motos have been around in the UK for around ten years now. The first bikes we're cobbled together with parts that were already available. How To Make Your Own Vintage Motor Cycle & Automotive Spare Parts Vintage Car & Motorcycle restoration enthusiasts all share one thing in common.. Liquid Cooled Minimotos (PocketBikes), How Fast Are They and Are They Affordable? As the latest craze of Minimoto Madness continues in the United Kingdom. The demand for pocket bikes means that the consumer is now looking for more better quality products which are not only affordable for the average earner but also produce great horsepower and fast speeds. Know Your Mini Moto The Mini Moto is a small scale replica of the World Super Bikes used by the likes of Valentino Rossi and ex champion Carl Fogarty. The Mini Moto comes equipped with either a two stroke air or water cooled engine which are, depending on the model, capable of speeds of up to 60Mph. Do You Need a Part for Your Harley Davidson Motorcycle? Need a Harley Davidson Part for your ride?Where do you get a good quality Harley Davidson Part? Can I use an aftermarket part?These questions are not easy to answer. It depends a lot on your situation, part you're looking for, and the money you want to spend. Personal Scooters are Not Just for Fun Personal scooters are a highly valuable mobility tool for those who, for health reasons, are unable to move around in public or in their own homes. They can ease the burden of having to carry things like heavy groceries or other personal effects. Motorcycle Tires - Why Should You Care? One of the most important parts of any vehicle is its tires. Not only are the tires subject to a large amount of wear and tear, but also their durability depends largely upon how you maintain them. How Do You Make Your Harley Davidson Look And Feel Like An Extension Of Yourself! How do you make your Harley Davidson look and feel like an extension of yourself!Do you think maybe it's time to do a little customizing for that old girl of yours? Ask yourself this first.Why do we customize and add accessories to our Harley?Well, for me it's simple!We want to stand out above all else! The last thing we want is to look like every Tom, Dick, and Harry out there on the road!You may have different reasons. Ride Hard - Hydrate Harder This summer is showing all of the signs of being a hot one. Temps have already been hitting the 100's here in the Midwest. 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. Online Shopping for Motorcycle Accessories When shopping for a certain item and material, the way to do it is to shop like a woman. Who else knows how to shop till they drop but women, right? Isn't it that husbands, partners, spouses and lovers often complain about the amount of time and the energy given to shopping by their women even for just one item they need?But who else gets the most of their budget, and takes home the item of high grade quality at the least price possible? Women. Suzuki Motorcycles - From Fine Loom Manufacturers to Major Motorcycle Company Started in a small warehouse by Michio Suzuki back in 1909, Suzuki aimed at making better looms for the Japanese silk industry. It was only thirty years after its existence that the company started thinking of diversifying into cars, motorcycles and related machinery. 0 to 60 in 4.5 Seconds Speeding is illegal, yet we sell racing motorcycles and cars which are so powerful and look so intimidating that a police man could write the owner a ticket even if it were parked. Take today's crotch rocket, nearly all of these motorcycles can barely get out of second or third gear going sixty miles per hour. So You Want To Be A Custom Bike Builder? Start With A Motorcycle Kit! So you want to be a custom bike builder? Well friend, before you rush out and buy that motorcycle kit, the one that will set you on the road to riches and fame, stop and think about the level of expertise and artistry the top builders have attained. More importantly think about how long it has taken them to attain it! Let's look at a few key issues?EducationYou'd be surprised how well educated a lot of today's top bike builders are. Motorcycle Suspension Setup: Getting to Grips with a Black Art Suspension Set-up: The basicsWhether you are a road rider or a racer correct suspension setup is the key to fast smooth riding and consistent lap times. To get the best out of your bike it needs to be set up for the conditions in which you will be riding.
|
| home | site map |
| © 2006 |
