Repayment terms for motorcycle loans:
Most financing sources offer a choice of repayment terms for motorcycle loans (i.e. 3 year, 4 year and 5 years).
Interest rate for motorcycle loans:
The interest rate for motorcycle loans is roughly about the same rate that is charged for auto-loans.
Fees for motorcycle loans:
While the exact amount in fees will vary by financing source, the fees are usually charged as a percentage of the loan amount (points).
For example, if you get a motorcycle loan for $20,000 – and there is a 1 point fee, the fee would be $200.
Down payment requirements for motorcycle loans:
Many financing sources will want a borrower to put 5 – 10% down payment towards the motorcycle.
Motorcycle Loans
MotorcycleLoanCenter.com says this about their service: Are you looking to buy a new or used motorcycle? Are you going to need financing for your bike purchase? Let us help you! The Motorcycle Loan Center, Inc. has been assisting individuals of all credit types get approved for low rate motorcycle loans since 2001. Affordable finance programs are available for purchases from private party sellers (person-to-person, relatives, friends) as well as bike dealers. We also provide loans for custom choppers and custom bikes!
Since rates and fees can vary by institution, always contact a couple of sources when shopping for motorcycle loans.
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