How to Finance a Motorcycle - Motorcycle Financing Explained UPDATE 

Wow good timing. Looking to finance an mt07 as a 2nd bike to help keep rebuilding credit before I get ready to buy a house in a few years. Thanks!

Phenomenal. Thanks so much, that’s everything I needed to know👍🏻👍🏻👍🏻

Thanks for the knowledge very much needed 1st time bike buyer

Thanks for being this basic. I literally had no idea where to start. Great stuff!

I’m looking into getting a Honda CBR 1000RR and wow all the 7 vids you got up Alex really helped me a lot! I got notes and now know what yo kinda look for👍

Awesome to see a Royal Enfield in the background.

Thank you!

Such great info, thank you dude!

helpful indeed!

Good Video

Why is it so hard to get financing for an out of state purchase of a used bike? I had no problem getting pre approved for a decent interest rate through my credit union up to $10k until I found the perfect bike out of state and now they’re telling me I’ll have to get a personal loan at a rate that’s twice as high due to not being approved for out of state purchase. Any suggestions? I played with lending tree and it looks like light stream might give me a loan but now I’m worried I’m hitting my credit too much if I apply to a couple places to shop rates.

How good of a credit score would I need to finance a Ducati? Looking into getting the new supersport i plan on trading my Yamaha r3 I paid that one in cash

What are bs fees and how do I avoid them?

I financed a new Triumph and didnt have to show income ( just state it) I think if your credit score is above 700 they don’t ask for paystub’s etc.

Question for you man, how many banks will they send your info in to try and finance? Will they send your info to multiple banks to try and get approved at least one?

I’ve been reading insurance is super high on a financed bike, thoughts?

what insurance deductible to most lenders require I'm assuming it would be 500$

I purchased a new motorcycle last month and they didn’t ask for paystubs, I thought this was really strange.

There no way to get around the proof of income with a good credit score of around 780?

What about new credit with 730 credit score with 7,000 -10g down for a 17g bike 🤔 whats my chances of approval

Could I finance a motorcycle from dealer with a valid ID card (not driver’s license)

What if you have no credit history? But wanna finance a bike roughly worth 15k? Do I need to put a good down payment on the bike?

Iam a first time buyer. Went to a dealer finance a motorcycle inshurense already good . Howlong before I get the bike? It’s been almost 2 weeks.

Will I definitely get approved if I put a 50% down payment?

Hi Alex. I was wondering if you think I'd have a shot at financing a bike. I'm a student who just landed a part time job but make between 300-500 monthly. However I have been doing DoorDash for the past year and easily make between 400-800 a month that I could use to supplement my pay. My credit score is 740, No negatives, everything paid off but my credit history is under a year old. I'm trying to finance a Ninja 400 at 6k for college but am worried they wont accept self employment as a valid source of income. I could put down a 1k down payment if needed. Thoughts?

I don't think I have ever had to prove employment. Just credit score and ID"s.

I’m a teen and have no credit but I make 100 or more each day I work and can make over 1000 a month, if I put a down payment of 6k on a 2017 yamaha r6 would they let me finance it?

Love it. Thank you for the knowledge, I am about to finance a Yamaha R6. I want to put 5,000. Down and pay 150 a month. My credit score is 500 something, my question is can they turn me down for that low of a score? Also do you need insurance to drive the bike off the lot? Or license?

Hey Alex, I was curious if you could help me with thoughts on if I'd get approved for financing if I went into a dealer. Situation: wanting to buy a Honda Shadow Phantom, 2015, great bike, extras on it, listed at 4,999. I was hoping to not put anything down but can put 2k if needed. The rest or all I wanted to finance. Difficult part: I don't have income verification just yet because I start my new job next month, but my credit score is about 740(no bankruptcies or anything negative, card balances about 10-15%) . Thoughts?

HI Alex, Perhaps this question is too specific, but here goes. My local Royal Enfield dealers has a 2019 Int 650 with 1400 miles on it. It has a corbin seat and a small rack on the back. It is priced at 4999. They have a brand new 2020 Int 650 at 5799. I am not really planning to buy a bike right now and my preference is for the Continental GT , but this looks interesting. A new continental gt would be 5999. If I were serious about buying a bike now would the bike likely have other fees on top of the asking price. I know there would be registration which should be the same for new or used. Sales tax obviously would be a little better on the used . If you were in the market for an RE int 650 and the used look totally clean do you think it would be a much better deal? I have been to this dealer before and they have been around a long time. I would consider them reputable.

Hey man is it really required to put a deposit on finance a motorcycle? I live in newyork and i wanna finance the yamaha r6 got 810credit score yet i only wanna put 1000 deposit. Is it dowable’?

Hi Alex, im trying to get a triumph street triple rs (or moto 2 if im lucky) and im putting about 30-40% down the bikes price. My credit score isn't the best, but im willing to chalk up a bit more change on the DP if they need it. In addition, i currently am paying a new car every month 2 weeks in advance. My target date is October 30th. Do you think I have a chance to walk away with the bike? (I also have no derogatory marks)

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

So much wrong with the private seller portion here. Have them meet you at your credit union (banks are for suckers), loan officer does ALL of the paperwork, shake hands, enjoy your new (to you) motorcycle... The CU handles the payoff, taxes, tags, title, and paying seller. All you have to do is sign.

Alex can i use my mom to co. Sine for me she has very good credit

Thanks for the info Alex! I’ve got a question about insurance after financing a motorcycle, someone told me that you literally have to buy full coverage when financing a motorcycle is that true?

Is 200$ a monthly payment too much for abike?

dont buy one if you cant pay up for one in my opinion

Do you think my medical marijuana card will count as i.d. cuz my picture is on it 🤷‍♂️

You finance a house you pay cash for a motorcycle

Easy answer, you don't.

When you have no credit at 21😓