How to Finance a Motorcycle - Motorcycle Financing Explained 

Who ever disliked must didn’t get approved

6 years later and this vid is still helping ppl like me :)

I know this video is old man, but I’m going through this now and feels great to get this input thank you man

I have NEVER financed anything. Felt so mysterious. I really appreciated this breakdown!! Thanks! 😁

back when bikes were cheaper

If I go to a dealership to get a 6k bike and I put a 1000$ down is that all I have to do to pay for the bike at that moment? Obviously I pay my monthly payments and get insurance and pay for that asw. But how is like the purchasing aspect work? I’ve never bought a car or bike before.

People like you are the people I wanna deal with. Give it to me straight dont fuck around im looking for a cbr650r I swear if you were in Texas I'd buy from you. If you are in texas let me no asap

Example: Price of Bike: 5500 Final sale price: 6500 After Interest: 8,000 i would there be any penalty for paying off early ?

Very good and real advice thanks again for making this informative video

What is a good term length to go with? Are the financing terms similar to cars? Typically cars are 4 or 5 years long. Is that a normal length of time when it comes to bikes? For instance, if I wanted to pick up a used bike from a dealer and they're asking $5,000 and I can't spend more than $90-100 a month, is a 60 month term out of the question? do dealer's typically have a shorter term limit or does it just vary on credit and the amount of money you put down?

This video really helped me rap my head around financing a motorcycle.! Thank you Alex! I have 1 question how would I finance a bike if I have absolutely no credit?

You make adulting very easy 😂 thank you :)

this made way to much sense

This video answer my questions like I he actually heard my questions 👌🏻 very accurate info. Thanks

I was told by a motorcycle dealer that it is easier to get approved for $200k mortgage than a $5k new motorcycle. And not to bother trying if your credit is below 700.

So you'd say chances are pretty good even with a lower credit score that a shop could get you approved for financing just at a higher interest rate and possibly bigger down payment? My credit score is around 580 and i was thinking that wouldn't be good enough

So, I'm not sure if you're still answering questions on this, I've found a killer deal on a 06 dyna, at 4500 with 1000 down, I have a 500 credit score, how likely am I to be able to get that bike financed somewhere?

Hi, i have good credit thinking about financing, can am maverick trail 800 MSRP $11400 but i asked out the door price and replied $15400 thats $4000 more on fees taxes etc, thats $4k in fees thats alot, does that sound right? What can i do to lower that, i was expecting total OTD $13400

How's it going. I got a 2018 harley davidson heritage softail classic. Price tag 16,100 I have a credit score of 750 and I put down 6,000 and then they added a 2000 dollar 24 month 24000 mile warranty if the engine, transmission or electrical breaks down. I don't no why I agreed to that being two years old. Then I still have to pay 100 bucks. So I still owe 14, 233 dollars on it with licensing and fees and all the bs. Monthly payments are 275. And interest rate is 6.5 I just don't feel like the 6 grand I get a good deal? A

I need your help Alex, I want to get a 12k motorcycle. I have a 688 credit score with 7 month credit history. I have never financed anything before so I don’t know how much of a down payment would be best for me

Question- I want to buy a bike that’s $7K- the guy said it’s about 10K with taxes fees titles etc. I have 6K in cash and was hoping to finance the rest at a rate lower than $110 a month. My credit is very strong. Am I being realistic? Is it better to just save up the extra 3K and pay cash?

Let's say I'm 20 years old. 629 for a credit score, and 7200 dollars is what I need to borrow. Trying to go for a 52-60 month loan. What are my odds I get approved?

I’m 23 looking to finance a dirtbike. I never rode before but I was recommended going with a 250 or 230. I have been building credit since 18 and make around 3 grand a month I pay around 700 in bills. I was wondering what’s a comfortable price to finance?

So I’ve been pre approved for a 6k loan. Bike with taxes and fees is 7k out the door. I’m willing to put 1k down and finance the 6. What’s my next step? Do I got to the dealer and tell them that I’ve been pre approved?

Alex, I have been in the mortgage finance business in the past, so I know quite a bit about financing. I think you explained things quite well for the time allotted. I am glad you mentioned credit unions (good places to go) and shady loan officers. Most people do not realize that a loan officer makes money two ways those being a percentage of the amount financed and the rate they charge(with both items the more you finance and the rate they can get from you means more money in their pocket) A good example of a bad loan officer at a dealer. many years ago, I bought a new SUV, the finance guy at the dealer wanted to charge "X" (which was an outrageous number, I told that was a crazy rate, he said you have some bad credit(I had run my own credit and it was in the low 800's, which is very good) I went to my own bank and the rate was half of "X". Another example my daughter and her friends were all buying houses, my daughter had great credit and so did her friends. The loan officer said she could buy twice the cost of the house she was buying based on credit and income she said no her friends said yes then the market crashed, her friends or spouse lost their jobs. Because her payments were low the crash did not hurt them unless they had to move to another state, they may not get the price they paid, her friends that lost jobs could no longer make the payments and lost their houses. You summed it up well make sure you can make the payment or spend less

im pretty late but lets hope it this gets seen. im currenlty saving for a bike i saw at a dealership. its a kawaski klx250 for 5999$ cad. im 22 and im not sure what my credit is. lets assume eh to none. i was thinking 1000$ down when i want to get it. is this an acceptable amount or would i want to do more or less than this. its also going to be my first bike ever

If I have no credit with a collections on my report can I get approved with a co-signer with good credit??

Question, I’m looking at a $4995 Yamaha 2015 fz09. Looking to put down $1,000 down the shop/dealer has 4.8 stars reviews. I have a credit score of 695. I’ve been building credit for 7 months now. Would you think I’ll be approved and if so the interest rate here in FL? I’m 19 years old by the way

Great video man! I have a 680-695 credit score but I want a new gsxr 600 I have 1000 down do u think they will want more down?

As a 69 yo retired metal worker on a fixed income of about 25k who would set up payments (auto pay) i think I would be a safe bet for a small loan that I would pay off quickly(3000.00-1200.00 (cash)) leaves 1800.00. 9 payments of 200.00 each. Plus some interest. Do I need full coverage motorcycle insurance? I have a motorcycle license.and a helmet.theres a new safety product for motorcyclists. A vest that has a sensor that senses the quick change that happens in a collision and Pop goes an airbag on your chest vest. And for one hundred dollars.

short, simple, and to the point! thank you so much! my family isn't really keen on financing or taking out loans on ANYTHING, so i had no clue how to do any of that for when i buy my bike or car.

I have a 768 credit score self employed with 3 hard inquiries in the oast couple years. Trying to buy a 5k dollar 2023 clx 700 froma dealer. Should i just get a personal loan or run it on a credit card?.... Cause i heard being self employed its almost impossible to get approved fot anything. Evem if you have bank statements to prove income

I have a 720 score I should be in good shape right

Typically how much work history do I need to finance a bike. I’ve had my job for 3 months.

Do you have to have a motorcycle license?

ive got high 700's thats good credit the mt07 i was looking at was $7,599 i told the guy i would put $3,000 down he ran my credit then told me i got approved and payments would be $250 for 72 months i was shocked i havent tried another motorcycle shop yet no way im paying 20k for a 8k bike..... now im at this video looking into how i got that lol

I’m 18 and I have a credit score of 720. I have a job paying about 2k / month. I have my money invested in my business and prefer keeping it there. I want to take a loan out for about 5-6 thousand for an r6. Will I get approved? What sort of interest should I be expecting?

If you only care about the "Payments" you could be paying almost DOUBLE for the bike. Shouldn't you be looking at the TOTAL at the end of the loan?

I’m going to buy a bike for £1000 on credit card 😂

Trying to get 7,000$ bike. 2,000$ down. I have proof of income. Everything I need. Could I finance at the dealer with an -ID card (not drivers license)?

I’m 14 and recently got a job and am able to afford a Crf250f. The issue is that I’m too young and I am not about to save up for a year (with my current work schedule) to get it. So what I’m tryna do is have my mom get it through financing cause she has a great credit score. I’m planning on paying her what ever money it is every month so that she doesn’t pay anything. Not sure if this is unreasonable or not. I can’t think of any other way to be honest. I’m not even sure if financing for dirt bikes is the same as it is for motorcycles. Anyways that’s my plan.

So may I ask suppose I want something that will run me about 26.000 and they see I put $ 5.000 down and I and at 50 percent of my income and I have a excellent score?? Do you think I have a chance getting my 3 dream bike.??

Hey Alex! Great video I’m new to the bike world and I’m looking at getting my first beginner bike. Can I get approved with zero down for a bike?

Hey man thanks so much for this video can you give me more info on financing a 2018 ninja like how should I go about it in the dealer

I have a 722 credit score wanted to get a raptor on finance but my interest rate is 18% to high ? Or is that normal I don’t have a big credit history no big purchases but my credit score is good not sure if 18% is normal or to high for my credit score

I was interested in buying the Honda Rebel with ABS and that bike Sales for 6599 I have half of the money for the bike would it be ok to finance I have good credit

If I wanted to get a 2021 ninja 1000 SX brand new and I put $10000 down do you think they would sell a to me with Monthly payments of a $150 A month

Do u know of legit nationwide lenders that regularly deal with motorcycle loans? I'm trying to see if I can get pre-approved on my own.

Do your research..... Don't say much don't say u buy cash or finance if I have a down pay.... Etc let them talk first

Hey my question is insurance. I’m a truck driver with a CDL license and I never been in a accident. I bring home 800 to 1100 every week. I also just got in navy federal credit union but I don’t have a credit card. I wanted a pre owned hayabusa. Will my insurance policy be high since I’m a CDL driver?

Thanks man for posting this. I'm looking to finance a part of the bike I want to purchase, my credit is excellent but I was surprise how much higher the interest for a bike is. I'm still doing my research to see what's the best interest rate and monthly payment I can get... again thanks

I have a 605 credit score but thats just because i started my credit like 6 or 7 months ago im trying to finance a $3000 kawasaki ninja 300 thoughts? I dont really have much for a downpayment i only have like $100 thoughts?

How does a joint finance work for a motorcycle? And why do some dealers try to use the worse credit score? And why do dealers get a rate from a loan company, then come to you with a different number? Sounds shady

Great advice to get a motorcycle fast. This is the worst financial advice I’ve heard in a long time!

My aim is to buy a bike under 12k in 6 months or so. My credit is low [damn college] and im taking this time to build my credit hopefully a hundred points or so. If my credit still is low yet I have a down payment of, let's say, 2500, would i still have a good chance of walking out with a bike?

Hey Alex I wanna get a brand new gsxr 600 which is about 11k what credit score would I need to have if I wanna do 0 down

This answer lowkey my question because I’m barely 17 I want to get a bike for my 18 and I don’t have so much credit thank you for this video!

150 a month? Is that a serious number? Like what should I realistically be expecting to pay a month for a bike that is actually 5k? I need a bike for my own sanity. I'm willing to do what I need to get one.

where are you located?

What kind of credit score do I need to get a brand new Harley Davison or can I get a used one that I saw for $7000 from a private owner selling a cash through a finance company enjoyed your video thank you

I have credit but I don’t have a credit card is that needed?

How you check your kredit and how much kredit is good and okay kredit?

If you going to your bank you dont have to put any money down and honestly you dont have to put money down but your payments will be higher

Great video I’m planning on buying a 5k dirt bike financing

What type of credit score do you need? It seems like they require a super high score even for a cheap motorcycle

Hi Alex, I was wondering is it possible to negotiate with a price that's been reduced from the MSRP? For ex. 2016 Honda CBR300r originally cost $4,300 been reduced to $3,000.

Im looking at a bike thats $2600 i have a $1500 down payment but im looking for a job currently because I don’t have one... do I really have to wait 6 months on the job? I mean its a less then 2k loan.... would i be ok if i just got my job and then went to buy it or do I really have to wait it out??

I'm selling my 250 for around 2k and putting that as my down payment. The rest I will finance it. Any suggestions on sport/naked bikes?

Thank you so much man i just turned 18 and i plan on trying to get a ninja650 by next year

Hey man loved your video! My question is. I have on the lookout a 2016 yamaha r6 for $8200 (60th aniversary) i have a 720 credit score(young credit line) what do you think my interest rate will be? and what do you recommend putting down??

Quick Question. Was wondering if there are any fees you have too pay up front when financing a bike?

So my situation is im 17 turning 18 at the end of April and the bike id like to get is a yamaha r3 its used and is about 3k and i am willing to put 900 bucks down on it. Can you tell me how hard it will be to get approved? Reminder I have no credit history at all. Thanks

Appreciate you putting out both of ur finance videos!! Helped me out a ton wish u we’re in Phoenix I would come buy a bike from u ASAP! Thank you!!

Hey Alex I’m trying to pick up a gsxr 600 and I have no credit, I’m 19 and I have no idea how credit works, I’m trying to finance it to start working on my credit, the bike is 11,400 and I’m thinking about putting down 4k. I went to go look at a bike in a dealer and I asked if a guy like me with no credit and young will be able to finance a the bike with a 4k put down payment. And they said that it’s most likely I won’t be able to get the bike. I need your help and was wondering your input on my situation. Thank you.

My credit is 715 would i be able to finance a zx6r

Can u do a video on, I don't know how to ride, but Wanna finance.😒😂and start riding

Would it be better to save up and buy a used bike on Craigslist or go to a dealer for a newer bike and get it financed? (My credit is no bueno)

Hey, I'm 20 years old and I'm starting my credit and I want to buy the 2020 mt-3 ($ 4500) and I'm going to give 2000 down payment and I want to know how much interest they can give me? and I repeat this starting credit

I just need a cheap scooter made in China a rusi worth 38000 thousand pesos I was thinking of paying in cash but financing it is so tempting hmmmm

I’m financing this bike and i don’t want it anymore I want to swap it with a another bike is that possible?

Don't go into debt. Don't become a debt slave to the system. Save up to buy the shit you want and save yourself a fucking fortune in the long run. Live within your financial means or expect to be fucked later on. Get stuff faster by cutting back on all your unnecessary shit. And the biggest one of all. DON'T GET FUCKING MARRIED. True story.

hey man. my credit sucks. score is 586. I want to finance a new Honda Rebel 500 w/abs. you think these banks will work with me? I work full time. same job for over 6 yrs. I know I can afford the damn bike. its just convincing these guys to trust me... any advice?

Hello Alex Simmons, I am only 2 years into USA and i have internatinal(indian) drivers license. I have a good enough credit score and i plan to buy a KTM Duke 390 pretty soon. What should i know of ? this is mainly because i don't have a cali Driver's license yet.....which i plan to get soon after buying the bike

I been trying so hard man. I'm trying to get a 10,000.00 bike I have 3,500 down and I'm still getting declined because I don't have enough credit history they say.

Hey I know this is an old video but I came across it and it’s a good video, but I’m curious and would like to know what you would do in this situation. I want to finance a new 2021 rmz250 and it’s going for around 7250. I just recently started using credit about 4 months ago and I make all my payments on time so I would assume my credit is fairly decent. This would be my first big finance and I would put down 1-2 grand do you think it’s a smart or bad financial move I’m only 19

what about if i dont have a credit score yet? never had to deal with credit in only 19

Any tips on insurance? Do insurance companies consider certain kinds of bikes and features more risky than others? Is ABS worth it in terms of insurance savings? Cruisers vs sport bikes?

If I'm financing a motorcycle am i allowed to go into the shop and pay it off when i have the money? Cause i have close to 3000$ CAD saved and i usually have close to 400 or 500$ a month in disposable income so i can pay high payments if neccessary but i have no credit at all so nothing bad basically and i was just curious if that means after let's say 5 months i have another 2500 or more saved am i then able to pay that to the shop to drastically lower how many more months i have until it's paid off? If anyone could answer this i would appreciate it as i need a vehicle to commute to work on and the bus is something I'm sick of and I've wanted a bike since i was 15 I'm 21 now

Awesome video. Looking forward to getting a bike soon with this new information, so definitely appreciated.

Hey man I want to get a Polaris 850 highlifter it’s $10,200 my credit score is like a 650 how much would my interest rate be and how much would I have you give for down?

Nice vid, this summer is gonna be lit 🔥

How much would interest rate be for someone with no credit or being the an there credit try to buy a 2017 Yamaha Fz09 and putting a 1k down payment? And can give me an ex. for an mouthy payment .

Can you have a co signer to finance through the dealer?

Thx bro I’m 19 Nd bout to rc390 I bought my first car straight up wish I built credit on that 🤦🏽‍♂️

Hey alex I'm just curious because I think my motorcycle dealership ripped me off. I just bought a used cbr600rr and I gave them a $1400 down payment and I got my statement back from the bank and the price was the same the dealership told me.. I didn't see my down payment on there at all.. do you think the dealership kept the money or what? Because the credit statement showed I put nothing down.. so I'm a little curious please help!!!!! Thanks man.. my name is Tim by the way.. thank you all!!!

Can you use a trade in motorcycle as a down payment?

Hey im about to try and finace my second bike lol hi if you remember me

Is it worth it to trade in a motorcycle to a dealer? I know you'll get way less then sell privately but saving the time and hassle is it worth it in the end or just be patient and sell private before going to dealer to get next bike? Thoughts?

I’m 19 with no credit, I have a decent paying job and really want to get a used R6 price range of about $6000-$8000 If I put down $2000 will my interest rate be super high since I don’t have any credit history? Or will I even get approved? Thanks

This is a trend among RU-vidrs to regurgitate the very basic common Sense knowledge of The narrative of their video just for sake of views.