Used motorcycle loan recommendations?

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.

Dealers do get incentives from the financing agency for sure....but you don't mention how you intend to pay until you have made your deal and signed the offer. It gets sticky after that, for the F&I person gets a hold of you at that point to ascertain your finance choices, and offer extended warranty and gap coverage. You have to be clear if you are going to take the extended warranty and what not and have that added to the offer FIRST before mention how you will pay. Insist on that because you want any discounts that are predicated on them finding you a finance option. That discount is paid for with the interest add on they get when you use their finance options. But if it's written into the offer before you made it clear you would pay cash you still get it. Bringing your own financing goes the same way. You make an inquiry with your financial institution, they agree to pre qualify you for X amount and you go car/bike shopping, and they don't get give any cherries to the dealer in that case....at least it will happen behind closed doors and outside of the deal you make. There is also the possibility that a cash deal is attractive to a dealer if you are choosing a model that has been sitting on the lot quite awhile. In that case he just wants to get rid of it because he has been paying interest on it himself. Any price that doesn't put him in the hole will likely be accepted, though he will love to sell the extended warranty to polish the apple a little more. Whether to get that ever depends on what you buy....if you buy BMW you better get it....things go bad on them. Maybe HD too.....their quality is way up, but they do have some embarrassing goofs sometimes. If I was getting say a Honda...no extention likely needed, but anything of any make with a CVT yes and as long a warranty extention I can get. Those are ALL junk.
 
Gladly. I wound up with MB financial and got 5.84%. Let me know if you have any other snarky questions.

To all others, thanks for the replies. I think maybe a credit union is the way to go. I shouldn't have much issue. According to my bank, my fico is 761, so I imagine that should be a welcome figure for their establishment.

Not snarky, but seemed strange to ask for others' details without providing same.

My situation is in Oz where interest rates are much higher even though our Federal reserve rate is currently lower than yours. I have a mortgage secured credit union loan using redraw facilities so pay 5.24% without any security on the bikes. I think bank/cu personal loan rates are up around 8-12%.
 
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!
unbelievable after 30 years, a company doesn't have Rule of 78's in this day. I use Freedom Road Financial out of Nevada. Been there for three rides
 
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!


Not allowed to pay extra? Never heard of such a thing, that’s absurd. Find a credit union. I’ve been with mine for about 25 years. When I bought my Roadster in May 18 they gave me 1.99% for 5 years. I could have paid the entire thing in cash, but 1.99% is nearly a free loan.
 
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