Finding your motorcycle loan value and getting the best deal

The following guide hopes to make getting your motorcycle loan value or or financing a straightforward process.

Why to not get Motorcycle Financing or Refinancing through a dealer

Listed below are some of the reasons why you'll pay far less for the service through them, than you can expect to pay if you get your financing from a motorcycle dealer.

1. The motorcycle loan value many dealers offer to lend you is at a marked up price. This is because many dealers often sell the motorcycle financing contract to another banker or lender. To increase their profit they simply add a few extra interest points before selling the loan. By going to a separate finance company you can cut out the expensive middleman and save yourself a lot of money.

2. With a check in hand you will have the same power as a cash buyer. You will have more power to negotiate with the dealer who will know you are a serious buyer and not someone just checking out their motorcycles. The dealer will understand that he or she will be able to sell a motorcycle that day if they can arrange a compromise that you can both agree to and the check could be just the extra tool you need to get a better price.

3. Often dealerships will give you a higher motorcycle loan value because of 'bad credit'. If you take out motorcycle financing with them they will often use nonstandard consumer reporting agencies which could give you a lower credit score than what is reported by the major agencies when reviewing your motorcycle loan application. By obtaining your loan from a separate company your credit will be checked by leading consumer agencies, giving you a more accurate credit report which will give you a lower interest rate, saving you money. Remember it is always important to check your own credit reports before applying for motorcycle financing, so you don't give them outdated or wrong information, incurring higher interest rates.

4. The motorcycle loan value a dealer gives you can be extremely restrictive. Dealers usually have more inflexible terms when you borrow off them like secured down payments, shorter length of time to pay it off, meaning the payments are higher and some loans may be restricted to old models of motorcycles that the dealers are having a hard time to sell. By using a separate financing agency you will have more flexible terms, longer to pay the loan off and usually lower interest rates, saving you money.