Consider Your Finance Options Before You Buy a Motorcycle

Do you hear it? That's the call of the open road. Are you itching to answer that call from the seat of a new motorcycle?

Heading for the motorcycle dealership with nothing more than a bad case of wanderlust and an empty wallet can lead to big payments, outrageous interest rates and more bike than your budget can handle. Here are a few tips to help you get on the road without signing your life away.

Shop around

Find out about your financing options before you cruise the motorcycle dealerships. There are competitive rates out there to fit all kinds of borrowers. No matter what your credit status or what terms you need, you deserve the best rates available.

Hassle-free online loans

The Internet is a great place to shop for a loan before you shop for a motorcycle. Not all lenders make motorcycle loans, but the Internet can put you in touch with lenders outside your local area, giving you more options. You can apply and get approved from the comfort of your own home, with no hard sales pitch or intimidating loan officers, and of course there is no cost or obligation to you.

When you shop online for motorcycle loans, look for online motorcycle finance tools that help you figure out rates, terms and how much you can be approved and which national financial institution will make you the best deal by providing multiple loan offers.

Become a cash buyer

The best defense against pushy salesmen is knowledge. Know how much money you're willing to spend the before you walk onto the lot. Pre-approval is nice, but being a cash buyer is even better.

Choose a lender that will send you a loan kit with a check up to your maximum loan amount to take to any franchised motorcycle dealer as soon as you're approved. This way you won't be tempted to purchase something outside your budget and the dealer can't push you into a loan with inflated interest rates. Plus, many dealerships will cut you a great deal if you have cash in hand.