Bert's Black Widow Harley-Davidson® Finance Department
Owning a motorcycle is a dream come true for many adventure seekers. The thrill of conquering the open road is unparalleled, and you’ll want to enjoy this experience with your dream bike. However, buying a motorcycle is a significant investment, especially when it comes to high-end models from popular brands. Thankfully, you can always get your bike financed from a reliable lender. Bert’s Black Widow Harley-Davidson® is here to help you finance your dream ride!
Tips for Financing Your Dream Motorcycle
Motorcycle financing helps you bring home your preferred bike without breaking the bank. Here are a few tips for financing your motorcycle so you can hit the road sooner than you think.
Know Your Credit Score
Before thinking about financing, know your credit score because it will impact the interest rate you're offered. If you have a low credit score, you’ll want to improve it before applying for a loan.
Explore Various Options
Next, you’ll want to shop around for the best motorcycle financing rates. Check with multiple lenders, including banks and credit unions, to find the best deal, then finalize your decision. You can compare the loan tenure and interest rate offered by distinct lenders and select the one that aligns with your financial goals.
Secured vs. Unsecured Loan
You can easily opt for an unsecured loan with a high credit score. However, if you can't qualify for an unsecured loan, consider a secured loan, wherein you’ll be required to use your motorcycle as collateral. Although you can secure a lower interest rate with this type of loan, the lender can take possession of your vehicle if you fail to pay it back.
Choose the Right Loan Term
Once you’ve sorted the above, you’ll want to select the right loan term for your financing solution.
The longer the loan term, the lower your monthly payments will be. However, a longer loan term will mean you pay more in interest over the life of the loan. At the same time, a shorter loan term means a higher monthly payment, so be sure to consider how long you plan to keep your bike when deciding on your loan term.
The longer the loan term, the lower your monthly payments will be. However, a longer loan term will mean you pay more in interest over the life of the loan. At the same time, a shorter loan term means a higher monthly payment, so be sure to consider how long you plan to keep your bike when deciding on your loan term.
Make a Down Payment
Even if you opt for financing your motorcycle, you’ll still need to make a down payment. Remember that a higher down payment can ensure a lower loan amount and make qualifying for a loan with a better interest rate possible.
Consider Financing Through a Reputable Dealer
Premium motorcycle dealerships like Bert’s Black Widow Harley-Davidson® offer financing solutions for their customers. Our finance experts can help you create a customized plan that fits your financial condition and get you the best rates possible.
We hope these tips help you finance your dream motorcycle conveniently. If you have more questions or want to speak with our finance experts for a customized plan, visit Bert’s Black Widow Harley-Davidson®. You’ll find us in Port Charlotte, FL, proudly serving those from Fort Myers and North Port!
We hope these tips help you finance your dream motorcycle conveniently. If you have more questions or want to speak with our finance experts for a customized plan, visit Bert’s Black Widow Harley-Davidson®. You’ll find us in Port Charlotte, FL, proudly serving those from Fort Myers and North Port!