Used motorcycle loan recommendations?

I use my Credit Union also.

You need to look at the terms of your agreement.

There are some lease to buy options out there than require you to pay off the total interest rate as well as the principal amount in order to buy out the loan.

Wishing you luck.
 
Credit used to use something called the Rule of the 78ths, which had to do with the way the interest/payback is structured, that is, in the early payments most all of it went to interest and not principal. That a lender won't allow you to pay extra, and apply it to the loan, is somewhat smarmy. We've banked with a credit union since 1978 and have never seen anything like that. Good luck.

It's just another reason that bankers and lawyers appear at the top of so man undesirables lists.
 
I have always looked on motorbikes as toys(unless it is your main form of transportation) I usually pay for my bikes with cash(I do not buy expensive bikes) as I was always told do not pay interest on toys only on something that can make you money, now have I stood by this saying not all the times but as much as i can, i did finance my latest work van which cost $30000 my score is slightly over 800 and I got 1.9% from EFCU(eglin federal credit union) at that low a rate I do not mind using some else's money, plus i can pay extra on the principal which I do every month.
 
credit unions if not put all of money in bank account for automatic withdraw(still payed off more or less) if they wont let you pay it off all at once
 
I just discovered that my current lender will not allow me to pay extra on top of the designated monthly payment. I find that to be incredibly dirty, so I want to change lenders, as I intend to pay extra on top of my loan and pay it off well before the full 48 months.

I was hoping I could get a consensus on what lenders everyone else has used/uses now, and what interest rates you snagged, if willing to share. I think the most applicable advice will come from those who bought used, as interest rates and participating lenders vary between new and used. Mine is a 2012 roadster with just over 8k miles, in case that may matter. Thanks guys!
I went with Northstar credit union when I got my rocket in 14 no pre payment slap and paid off one year early at 4 percent
 
Credit used to use something called the Rule of the 78ths, which had to do with the way the interest/payback is structured, that is, in the early payments most all of it went to interest and not principal. That a lender won't allow you to pay extra, and apply it to the loan, is somewhat smarmy. We've banked with a credit union since 1978 and have never seen anything like that. Good luck.

It's just another reason that bankers and lawyers appear at the top of so man undesirables lists.

Believe me the insurance industry is way on top of that "undesirables list".
Then banks . . .
Then lawyers . . . :eek: :p :D :thumbsup:
 
Oh, and I only bought ONE of several bikes on credit, my late lamented Rocket....my next bike will be cash and well used but cared for.
 
Oh, and I only bought ONE of several bikes on credit, my late lamented Rocket....my next bike will be cash and well used but cared for.
The only bike I have ever bought on credit was my first Big Bike. I don't count the cash my dad lent me for the 125cc.
The only car I have ever bought on credit was my first one too.
Ditto First house - still living in it. Finish paying next year.

Banks and insurance co's are businesses - Not toy charities. What REALLY gets my ire up is that is very often CASH purchases (here) are penalised in the Automotive sector. Dealers get premiums for the financing options offered by large car mfrs.
 
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