How to Finance a Motorcycle – Motorcycle Financing Explained #Finance

this will by far be the most exciting CashNews.co I have ever done so obviously I realize that financing anything is not an exciting thing whatsoever to talk about so but took way too many people come to me every single day that are so confused about the concept of financing a motorcycle or

ATV or really cars or anything like that here’s the whole thing right you want to buy a motorcycle and you don’t have a lot of money you don’t have all the cash say you want to buy a $5,000 used motorcycle you don’t have all that money so you have to make payments on it or

you have to Finance it if you want to get it it’s not that complicated of a thing and I just want to clear that up for everybody real quick ok so if you’re

totally not interested you can click away it’s cool it’s not gonna hurt my feelings but this is for the CashNews.co for the people that are just not super clear on how the whole financing thing works to make payments on a motorcycle or really anything at all ok let’s do it so

here’s the thing you want to buy a motorcycle you don’t have that much money you need a little bit of Credit ok if you’ve got a really good motorcycle shop and you’re gonna have to go to a shop really to do this I mean you could go to your own bank or

Credit union probably then you have to go find a motorcycle it’s a lot easier if you do it at a decent motorcycle shop like us or somebody else like that ok you’re gonna go to the shop you’re gonna pick out the bike you want to buy right you don’t have

enough cash for it say the bike is $5,000 you don’t have enough cash for it you’re gonna need to Finance it which means they are gonna need to take a

Credit app from you which is not a scary thing it’s cool you can feel the Credit up out not a big deal you’re gonna put some info down who you are where you live where you were what you made what your rent is okay they’re gonna submit that to a

bank if it’s a new bike it’ll be a big national bank if it’s a used bike it’s probably gonna be like a local bank or Credit union Credit unions are awesome by the way if you’re gonna do a Credit union try to do a

Credit union they’re gonna submit you depending on how your Credit is good Credit bad Credit don’t have very much Credit kind of in Credit depending on what your Credit

is they’re gonna get back and approval for you and the approval is going to be for how your Loan will be and what your interest rate is on that Loan your shop can take those two things and plug them in and they can tell you about what your monthly payments

are gonna look like most of the time when you’re financing a motorcycle they’re gonna want to see a little bit of money down it may not be a whole lot it may be you know I would say average if you’re gonna have to bold; color: #1a73e8; text-decoration: none;">Finance a motorcycle count on five hundred to a thousand dollars down just count on that budget for that ahead of time you’ll save yourself a lot of headache if you count on five hundred thousand dollars down for most like used

inexpensive motorcycles you’ll be just fine if you’re looking at a 10 thousand dollar motorcycle ok if you have bad Credit you might need a little bit more money down than that but moving on so that’s really it guys if you if you wanna buy a motorcycle and you

don’t have enough money to pay cash for it you can probably still get it if you’re younger or don’t have much Credit it might be a good idea to buy it on financing because then you’re building up some Credit history and then you won’t

have problems financing like cars and houses and things like that in the future so just a little bit of friendly advice there now pay attention to what your interest rate is pay attention to what your payments are and everything make sure you can afford it if someone’s trying to pitch you a

payment that you just can’t afford tell them hey man I just can’t afford that payment so we either need to find a different bank or a different bike or something like that don’t feel pressured to take it just because I really want this motorcycle so I’ll take that you know

$300 payment if are you can afford it 150 bucks a month be upfront about that hey man all I can really do for is 150 bucks a month if you can afford 180 bucks a month just be upfront I can’t go over 180 bucks a month if they can get it less than that great be upfront about that it’s

gonna save you a lot of time and hassles gonna say that a lot of time and hassle it’s gonna be way better for the whole situation so you go look for a bike if you don’t have the cash just tell them hey man I’m gonna need to

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance this so they can do a Credit up kind of early and you can get a good idea early on be upfront about it look I really can’t afford more than this much a month and I’ve got this much

down max and you know five hundred thousand dollars whatever you could put down it’s gonna lower your payments it’s gonna be good so just go ahead and fill out the Credit form it’s not a huge scary thing tell them hey I can’t afford more than this a month

and I can’t afford to put more than this down and just let them go to work for you okay motorcycle Interest Rates just so you got your head wrapped around it you we see Interest Rates anywhere from you know like three or four percent for really good

Credit people to twenty percent for really bad Credit people if you’ve got bad Credit and you’ve messed up some of the past you’ve tripped up some it’s nothing to be ashamed about but you do need to understand you’re

gonna pay a little bit higher interest because you are atoning for the sins of the past you’re making up for mistakes you’ve made before and showing someone I can be responsible enough to make this payment so that you won’t have to pay the higher interest next time hope all this

is making sense to you guys just to recap if you want to buy a motorcycle you don’t have enough money you need to Finance it if you want that bike bad enough

you’re gonna have to Finance it it’s not a huge scary thing I do it a lot of people do it most people buy motorcycles by making payments on them okay just fill

out the Credit app trust the Finance guy a little bit if he starts being shady just go somewhere else you know you can usually tell if someone’s being

cool about it trust the Finance guy tell them upfront I can afford up to this much amount a month no more I can afford this much down no more and see what they get back for

it if you can afford the payment you can afford the amount down and everything looks on the up-and-up then rock and roll ride off in the sunset enjoy your motorcycle because that’s the point right I hope this has made the finest thing a little bit more clear for people on how it works if not

just put some questions in the comments below and I’ll answer them no problem I do it all time I’ve been helping Finance bikes for years and years and years so I

know it wasn’t like a super exciting CashNews.co but I just get this question so much that I figured I needed to go camera to face for a few minutes and just kind of explain how this works so hopefully I helped clear that up for some people out there like I said I don’t want anyone to

get taken advantage of if you have any questions whatsoever I’m always available I answer my comments really fast I just put them in the comments below and I will help you guys okay that’s what I’m here for I’m here to help you guys understand motorcycles how to buy them how

all that kind of stuff works because it’s what I do and I love to ride and I just want to help you guys alright I’m Alex subscribe if you dig it take it easy