Beginner’s Guide to Motorcycle Financing

Interested in financing a motorcycle? Before you sign on the dotted line, be sure to read our helpful beginner’s guide below! Whether you’ve done this several times already or this is your very first experience financing a vehicle, our article is sure to have a number of tips & tricks to help you get the best loan offer available. 

Boost Your Credit 

Your credit score is one of the most important factors lenders consider when determining whether or not you qualify for a loan. If your score is currently below 650, we strongly recommend taking some time to raise it as high as possible before you apply for motorcycle financing. 

Save for a Down Payment 

The higher your down payment is, the better your loan terms will be! While you’ll be expected to put down anywhere from five to fifteen percent of your motorcycle’s total sticker price, if you can save up more than this number, you’ll likely see some improved interest rates or term lengths. 

Research Lenders

Different lenders may offer you different financing options based on a number of factors. To ensure you’re getting the best deal available, we highly recommend researching local lenders before you decide to apply. Generally speaking, your bank, dealership, online lenders, and credit unions may be willing to offer you financing services. 

For more helpful financing advice, we recommend stopping here in Lakeland, FL. Our expert staff will have no problems answering any questions you may have, or assisting you with your application if you’d like to take advantage of the convenient financing services here at Sky Powersports Lakeland.  If you’re located nearby in Tampa or Kissimmee, FL, feel free to stop by anytime to take care of all of your important motorcycle and powersports needs.