Should I finance my bike through the bank or go go through the dealer?
I just got my motorcycle license and I wanted to get my first bike. Should I finance it through my bank or should I go through the dealer?
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Comment by fire4511
Talk to your bank, and get pre-approved for a loan. You then will know what interest rate that you can get from the bank. Compare that to the rate offered by the dealer, and choose the lower cost option.
Posted on September 3, 2010 at 2:06 pm
Comment by Hormazd Irani
Going though the bank will be a better option. They have more experience and in it for probably longer than the dealer.
Posted on September 3, 2010 at 2:12 pm
Comment by rusty_nutss
bank
dealers usually have more built in hidden fees and surprises, like a balloon payment at the end of 3 years for instance
Posted on September 3, 2010 at 3:09 pm
Comment by molitor
You should go with the lowest interest & fees for the same term loan. Whom ever offers the best deal is where to go. I suggest you look into one of your local credit unions as well.
Posted on September 3, 2010 at 3:26 pm
Comment by Dan
Which ever gives the lowest interest(APR)
You will need a money block pre approved loan check from the bank because you wont know what the bike costs.
Posted on September 3, 2010 at 4:23 pm