Is it true that you cannot easily get financing for a motorcycle because it is considered a luxury?

Question

I am in colorado and am looking to buy a motorcycle to save on gas and insurance.

Answer 1

I don't know what the laws are like in Colorado, but if you have good credit, I don't see why you couldn't walk into any bank and get a loan for a bike. Many people borrow money for luxuries all the time, otherwise how could they own a home and a boat, camper or other luxury item? You can get a personal loan, to use as you see fit. You're the one paying the money back, so I don't see why you can't buy what you want. This IS still America, right? If your bank won't loan you the money, I'm sure there are thousands of other places that would beat a path to your door to relieve you of a monthly payment...with interest of course! Just six months ago, I walked into a used car showroom, told the dealer how much I wanted my monthly payments to be, told hiim the car I wanted and six hours later, I walked out with a car and my monthly payment. They went on-line and found a finance company that would do what I wanted. Of course, they had to lower the final cost of the car, but we all got what we wanted. You just have to let them know that you're not taking no for an answer. There's always some company that will say yes. Be assertive. <*)))><

Answer 2

That is not true. The best bet is go to your local bank and don't go in asking for a motorcycle loan. Tell them your intensions and at what rate you exoect to get the loan and for how long. Be reasonable and confident and they will take care of you. This, especially if you have good credit.

Answer 3

Most motorcycle dealers have various financial institutes to use as long as your credit is in good standings you should be in good shape.

Answer 4

yes it is true... you must have good credit if you are getting a harley.. good luck make sure you pop a willy when you get your bike lol