Common mistakes motorcycle buyers make when looking for a motorcycle loan by jay fran

Common Mistakes Motorcycle Buyers Make When Looking For A Motorcycle Loan by Jay Fran

Whether interest rates are high or low or it’s the end of a model year with lots of incentives, motorcycle buyers tend to make the same mistakes when shopping for a motorcycle loan. Here are four common mistakes motorcycle buyers make with motorcycle loans.

Shopping for a motorcycle before shopping for a motorcycle loan.

Many motorcycle buyers enter the showroom looking for a motorcycle before they determine how much money a motorcycle lender is willing to loan to them for the purchase of a motorcycle. There is no need to shop for a $20,000 Harley Davidson motorcycle, if a lender is only willing to provide a loan amount of $10,000.

Additionally, once motorcycle buyers enter the showroom slick salespeople often pressure them into motorcycle loans with much higher internet rates than they could have gotten had they shopped for a motorcycle loan at a bank, credit union or online. Salespeople do not like motorcycle buyers to leave the dealership to get a motorcycle loan. In the salespersons mind this only increases the chance of loosing a sale and commission. Therefore, salespeople frequently try for a quick sale which normally results in pushing motorcycle buyers to get motorcycle financing at the dealership.

The bottom-line is that it is always best to shop for a motorcycle loan before entering the showroom.

Diving into the unknown motorcycle loan.

Motorcycle buyers often jump into motorcycle loans that they do not completely understand or may not be the best alternative for them. For instance, in today’s age manufacturers frequently run credit card motorcycle loan promotions on their private-label credit cards. But these promotions typically offer a low interest rate for a short term like 12 or 24 months and have a much higher interest rate after the short promotional term. On a credit card promotion if motorcycle buyers can not afford to pay off the loan during the short promotion period, then they are typically better taking a slightly higher interest rate on an installment motorcycle loan for a longer term.

Borrowing too much.

The most common mistake the first time motorcycle buyer makes in not having a clear sense of how much motorcycle they can afford. This is especially true for young motorcycle buyers who look to buy the top sport bikes that cost up to $10,000 - $15,000. What they fail to realize is that financing a $10,000 - $15,000 motorcycle can stretch them to thin, resulting in them having little cash to enjoy themselves and the motorcycling lifestyle. They may also have too little cash to pay for insurance, maintenance, registration or new accessories for their motorcycle.

Not asking the right questions.

The first warning sign that motorcycle buyers should see is that if they do not understand the type of motorcycle loan, then they should be sure to ask a lot of questions.

Here are some good questions to ask:

  • Is the interest rate fixed or variable? If fixed how long will it be fixed for?
  • Are there circumstances that can make the interest rate on the motorcycle loan change in the future?
  • What happens if a payment is 30 days late? Does the interest rate increase?
  • What happens if a payment is 60 days late? Does the interest rate increase?
  • How long is the term on the motorcycle loan?
  • If the loan is an installment loan, does it use rule of 78 or simple interest? (Simple interest is always better because it does not penalize the motorcycle buyer if the loan is paid off early.)
  • What is the down payment requirement to get the motorcycle loan?
  • Is full coverage insurance required?
  • How much is registration and are these fees included in the motorcycle loan?
  • Are there any administrative fees to get the motorcycle loan and if so how much are the fees?

Overall, motorcycle buyers can avoid these common mistakes by spending a little extra time focusing on shopping for a motorcycle loan and asking lots of questions.

Copyright (c) 2004, by Jay Fran

This article may be freely distributed as long as the copyright, author’s information and an active live link to http://www.motorcycle-financing-guide.com is published with the article.

A complimentary copy of any newsletter or a link to the site where the article is posted is greatly appreciated.

Jay Fran is a successful author and publisher at http://www.motorcycle-financing-guide.com. A comprehensive resource on how to have the best experience and get the best deal on motorcycle financing, bad credit motorcycle loans, high risk motorcycle loans and motorcycle buying.


Previous Articles Highlighter:

Surviving The Workday In Your Organization (1)
Lorraine is also a dynamic speaker and has produced many products including "How to Survive and Thrive at Work!"To subscribe to her free ezine visit www.office-organiser.com.auThis article may be reproduced providing it is published in it's entirety, including the author's bio and all links.

The Delicate Art Of Balancing The Budget (2)
Today, the USA owes 5 trillion USD. True, this is only 60% of the GNP - but this time statistics is misleading. The interest payments on this "benign" level of debt amount to 15% of the budget, or 250,000,000,000 USD per annum.

Team Effort Pays Off For Entrepreneurs (3)
So the next time you are up at 2 a.m., act on the following: find, join, and participate in affinity groups. Copyright 2003 Permission required before reproducing.Mike Menaker is a certified business coach with Action International- New Jersey.

Making The Dealer An Offer By Kevin Schappell (4)
You will get nowhere being arrogant because you know the true invoice pricing or other details about the dealers pricing. Making the offer: Explain to the salesman that you have researched the dealer's invoice price and any incentives they get from selling the car and you have calculated the price you are willing to pay.

Classified Ads What Works What Doesnt (5)
And No-Cost Information Kits above were included in the package. C. A special “Freebie” item of their choice from our bookstore was mailed or emailed with mention of the ad.

Choosing The Best Life Insurance Option For You (6)
Although the repayments on this type of cover are more expensive than level term insurance, the insurer will make pay out whenever the insured party passes away, so the higher monthly payments will guarantee a payout at some point.There are a number of different types of whole life insurance policies, and consumers can select the one that best fits their needs and their budget.

How To Use Humor To Increase Sales (7)
For other purposes, the cost depends on where you’re going to use it and how many people will see it.There are, of course, other sources of cartoons. If you see a cartoon you like in a newspaper or magazine, write the cartoonist in care of the publication and ask about availability and pricing.

Are You An Expert At What You Do (8)
That’s the only form of expertise you need to be worried about to create information products that enrich the world. The Road of Knowledge There will always be someone else – at least one more person, maybe several more – ahead of you on your road to knowledge.

What To Do When Your IT Project Is Late Over Budget And Looks Like Its Never Going To Work (9)
Not Enough TimeWhether it’s a misunderstanding of the complexity of computer system designs or some other reason, many times little time is devoted to gathering the necessary data. Because this is one of the first steps in the process, when adequate time isn’t given to data collection, everything else suffers.

Naming Names How To Name Your Business Product Or Service (10)
Let the brainstorming begin!I love really clever, catchy and visual names. It comes from having a web design and creative background. The AIGA.org hosts a local networking event called "Brew" with the tagline "where ideas perculate".

Choosing A Merchant Account (11)
This may be, but you have to do the math to be sure. If you average small sales less than $20 a ticket, you will be better served by negotiating a contract with a higher discount rate and lower per transaction fee.

Be A Storyteller Not Just A Speaker (12)
Speakers learn to retrieve them and retell them to audiences as a way to show their humanness to show they care; to open people to possibility thinking and how making mistakes will lead to the courage to finally help them succeed.

Troubled Waters Require Capable Leaders At The Helm (13)
Disasters such as terrorism, possible pandemics, and war continually reshape the world in which we work and live. There are so many "big" global issues, so much apparent chaos, that our minds are often distracted from the day-to-day jobs we do leading our businesses.The world as we know it has changed - both economically and socially.

Successful Offshore Call Center Outsourcing (14)
It will always be far easier to manage a project if the KPIs are understood straight from the very beginning.8 Own the strategyThe highest performing outsourcing companies in the United Kingdom are able to define and deliver your call center strategy for you.

Why Do You Want To Start A Home Business (15)
As a result, most people give up on their dream, before they even start. I think it is also very important to ask yourself whether being your own boss is actually suitable for you.

Student Home Purchase Plan (16)
Maintenance and improvements, as well as taxes and often utilities, are expenses that can be written off. Fourth, there is the potential for additional tenants. Suppose you were to purchase a 3 bedroom bungalow for approximately $150,000.

What Is A Bad Credit Personal Loan (17)
It frees up the spare capital (or equity) in your home for you to use on whatever you want.A UK Bad Credit Personal Loan is ideal if you want to raise a large amount and have a poor credit history – you may be able to get a UK Bad Credit Personal Loan even when you have been turned down for an unsecured loan.There are loan plans for applicants who have CCJ's and mortgage arrears, it doesn't matter how many months arrears you have or how many CCJ's you have registered against you, if you have the equity in your property the chances are that a loan plan can be tailored to suit your needs.

The Game Plan The Difference Between Small Business Success And Failure (18)
You create a business plan at a management meeting. A game plan is about tactics and is created by and for the people on the front lines. A game plan talks openly about the good, the bad, and the ugly in the business and is used by people in the business to make decisions every day.

SuperCharged Secret 1 Of 5 Credit Card Utopia (19)
I just received a credit card offer for 4% interest (which I turned down...), but if I needed it, that is completely reasonable, don’t you think?3) You see, you are the consumer, and you have Low-Rate Super Powers!

Gain 5 Horsepower This Weekend, For Practically Nothing By Nathan Morris (20)
5) Insulate Fuel Lines - When your fuel lines travel through the engine bay they heat up. However, cooler fuel produces more power for more reasons than just cooling down the intake charge--although that certainly helps things!

Newer Articles Highlighter:

Achieve More In 2 (1)
He is also the author of “Stop, Ask & Listen – How to welcome your customers and increase your sales.” For information on his programs, visit his website at www.RobertsonTrainingGroup.com.

Ten Effective Ways To Reduce Your Business Costs (2)
You can find used items at yard and garage sales, used stores, used stuff for sale message boards and newsgroups etc.9. Negotiate You should always try negotiate a lower price for any business equipment or supplies.

The 6 Stages Of Modern Career Development (3)
This being true, career management is an important life skill to develop and cultivate. There are six stages of modern career development: Assessment, Investigation, Preparation, Commitment, Retention, and Transition.

Networking 1 (4)
As a new business owner you must wear many hats.You will need knowledge of accounting, marketing, advertising, management, administration, inventory, sales, etc., in addition to knowledge pertaining to your industry. Since you may be very proficient in some of these areas, but not in others, reading and learning about these other areas is imperative.

Working As A Knowledge Worker In The Information Age (5)
Escalante, 1996. “Mundane Tool or Object of Affection?: The Rise and Fall of the Postal Buddy,” In: B. Nardi (editor). Context and Consciousness: Activity Theory and Human - Computer Interaction.

This Is The Power Of PR (6)
How much do you know about our services or products and employees? Have you had prior contact with us and were you pleased with the interchange? Have you experienced problems with our people or procedures?

Three Proven Steps To Improve Your Home Business Advertising Response In Just 1 (7)
This is why most newspaper ads don’t deliver big results. Most newspaper advertisers choose the commercial, but you want the infomercial. Your one and only goal in newspaper advertising is to create action.

7 Work At Home Mistakes To Avoid (8)
Simply put, SPAM is unsolicited advertising. It is our belief that SPAM is in the eye of the person being SPAMMED, not the person sending the SPAM. While you may not consider a message to be Spam, if the person receiving it does, it's SPAM.

Something New For Managers (9)
endBob Kelly counsels, writes and speaks to business, non-profit and association managers about using the fundamental premise of public relations to achieve their operating objectives. He has been DPR, Pepsi-Cola Co.; AGM-PR, Texaco Inc.; VP-PR, Olin Corp.; VP-PR, Newport News Shipbuilding & Drydock Co.; director of communications, U.S.

How To Negotiate A Settlement With An Insurance Claims Adjuster By Dan Baldyga (10)
M. Strong is aware you‘ve not bought into his pitch and in his secret heart he perceives that reality. For those in the home office (so as to know exactly where they stand) his instructions have always been that everything that passed between the two of you is placed into the report’s he continues to send in, regarding the settlement talk’s he’s been having with you.

Step Back To Succeed In Decision Making (11)
Without exception, they command respect from those who work with them and for them. Some managers may rule with a rod of iron, others with a softer approach, but the key trait consistent in all great leaders is their charisma.Charisma is defined as “A personal attractiveness that enables you to influence others”.If you observe how the best managers you have worked for operate, you will undoubtedly find that they have a calmness about them, when others are at panic stations.

Why PR Is An Engine For Economic Growth (12)
Actually, they should be quite familiar with perception and behavior matters. Getting that activity under way means meeting with members of that outside audience and asking questions like “Are you familiar with our services or products?” “Have you ever had contact with anyone from our organization?

A Mass Customization Revolution (13)
Ink jet printers, in some applications, are losing ground to the advancing low wattage laser used for marking.What does this mean?In what other business can you invest in a piece of equipment to produce such a variety of different products?

Better Decisions Balancing Efficiency BuyIn (14)
Considering time constraints includes time needed for implementation. Consensus or consultation may be worthwhile if they will reduce implementation time. Taking all these factors into account we come up with some guidelines for when to use each decision mode.

Why Mobile SMSText Messaging (15)
B2B MessagingMobile terminated and mobile originated SMS and MMS via UCP, XML and PHP interfaceBenefits: Using industry standard protocols provide easy integration with existing systems as well as a robust and scalable model for future technologies.2.

Why Your Mutual Fund Doesn’t Return As Much As You Think (16)
But while the average fund was down just 0.37% v. the S&P 500's 9.1% drop, investors in the average fund actually lost around 3% when you add in the fees and capital gains taxes they must pay, says James O'Shaughnessy, CEO of Netfolio.com and author of the bestseller What Works on Wall Street."Mutual fund performance figures often leave out the taxes and some fees you are required to pay as an investor," says O'Shaughnessy, a former mutual fund manager and architect of a new investment service that eliminates the big drawbacks of mutual funds.

Useful Tips On Buying A New Or Used Car By John Mussi (17)
You can find checklists in magazines and books and on Internet sites that deal with used cars; Test drive the car under varied road conditions—on hills, highways, and in stop-and-go-traffic; Ask for the car’s maintenance record from the owner, dealer, or repair shop; Hire a mechanic to inspect the car.

Venture Leasing A Smarter Way To Build Enterprise Value (18)
This relationship is usually more important than transaction pricing. With the rapid rise in venture leasing over the past decade, a handful of national leasing companies now specialize in venture leases.

Using Sector Funds To Construct Diversified Mutual Fund Portfolios (19)
No part of this document may be reproduced in any manner without written permission of AlphaProfit Investments, LLC. Copyright © 2004 AlphaProfit Investments, LLC. All rights reserved.About The AuthorSam Subramanian, PhD, MBA is Managing Principal of AlphaProfit Investments, LLC.

What Is Road Hazard Warranty? Do You Really Need It? By Gene Grant (20)
(This is called pro-rated).Here is an example. Let's say your tire is 1/2 way worn at the time of the flat. With tires averaging $100 each, your replacement cost would only be $50.00.


Leave a Comment