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MX, SX & Off-Road Discussions
General Moto | Off-Topic Posts
loan for a bike
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[QUOTE="kelsorat, post: 691325, member: 25570"] One thing to think about is applying for a loan through the dealership. Most of the manufacturer's out there utilize a finance company for their loans, i.e. Transamerica, Household etc. These companies offer 6 mos no interest or even 12 mos (yamaha). Their approval procedure and giudelines are less stringent than a bank. The catch is that if you do not pay off the amount financed balance your new loan apr will be based upon the intial purchase value. This could be upwards of 17.9%. Now if you are approved for the loan app your approval status could conceivably be broadcast to credit card companies i.e. you will recieve some junk mail. Apply for one of these cards that offers 0% APR for a limited time. Even if you do not recieve these offers via snail mail, you could log on to some credit card websites and get all the 0% APR offer info and apply that way. If your credit rating is as good as you say, number 1, these finance companies will approve you because they are betting that you will not pay off the balance in time, and they get to reap the benefits of high interest, but number 2- you will transfer that unpaid balance to a 0%APR card and get a minimum of 6 more months interest free. It's a risk, but worth it in my opinion. [/QUOTE]
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MX, SX & Off-Road Discussions
General Moto | Off-Topic Posts
loan for a bike
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