The mountains of North Carolina are a sight to behold, especially from behind the handlebars of a sporty new motorcycle. Taking the twists and turns in the Smokies or along the Atlantic Coastline is a bucket-list dream for many North Carolina residents. However, if you’re reading this article, chances are you’re a bit worried about your credit score and its impact on your ability to get a motorcycle loan.
Bad credit is all too common these days, and the financial implications of poor credit are far from understood by most people. If you’re looking to purchase a new motorcycle and your credit isn’t the best, it may be time to take a look at other options.
A bad credit score comes with a variety of challenges. One area that’s significantly impacted is your ability to obtain a loan. Loans are needed for a variety of things, from purchasing a new home to gathering funds to start a new business. If you’re eyeing a new motorcycle, you probably need a loan for that, too. It’s hard to pay cash for items that size.
Obtaining a loan requires that you have your finances in order. Many financial institutions won’t even consider a loan application without checking your credit score, generally considered an indicator of how likely you are to repay the loan. If your credit score is low, most traditional financial institutions will steer clear.
While this information isn’t exactly sunshine and rainbows, there is good news. There are a few bad credit motorcycle financing solutions available if you find the right dealership. Many dealers offer in-house financing, allowing you to obtain the dollars you need to make your big purchase. If you find yourself needing motorcycle financing with bad credit, you’re in luck!
Bad credit motorcycle financing dealerships can offer you a loan at a time when most traditional lenders would look the other way. This means your dream ride could be a reality with just a phone call and a little bit of paperwork. Plus, the loan terms tend to be much more flexible, and the process moves more quickly than it would with a typical lending institution.
There are a few pieces of homework you’ll want to complete before submitting your application. Following these steps will prepare you for what to expect as you begin your search for financing. Motorcycle financing with bad credit isn’t impossible. You just have to know where to look. You’ll soon be on your way to the North Carolina mountains with the wind in your hair!
If you’re reading this article, you’re probably concerned that your credit may be a little iffy. That said, it’s important to know exactly where you stand on the credit score spectrum. Scores can range anywhere from 300-850, and knowing your exact number will give you a solid place to start. There may be pieces of your credit you can fix quickly, but you can’t even begin the process without knowing the full scope of what you’re dealing with. As a consumer, you’re entitled to one free credit report per year. This should be your first step when searching for bad credit motorcycle financing.
One surefire way to end up with unfavorable loan terms if to neglect your research. Study up on loan terminology. You should understand terms like “annual percentage rate,” “interest rate,” and “amortization.” These are terms used frequently in financing paperwork. Don’t get stuck pleading ignorance. Do your research before ever setting foot in a dealership.
Additionally, you need to know how all these terms combine to create a consumer loan. It’s so easy to get wrapped up in the monthly payment, but there is much more than that involved here. Put more focus on the big picture. While it may be challenging to get great terms when finding motorcycle financing with bad credit, you can be assured of getting the best deal possible when working with a reputable bad credit motorcycle financing dealership. These dealerships are very practiced in helping people with bad credit get loans that work within their budget.
You can increase your chances for success when you work with a reputable dealer that specializes in bad credit motorcycle financing. MotoMax, located in Raleigh, North Carolina, is one such dealer. MotoMax is the largest in-house financing motorcycle dealership in the state, and we’ve been providing motorcycle loans to people with bad credit for 11 years. We handle all the loan paperwork in-house. Our team of lending specialists is expert at putting together a loan that meets your needs and fits within your budget. We want to set you up for financial success, not make your situation more difficult. That’s why we make the motorcycle loan application and approval process quick and easy.
At MotoMax, we’re less concerned about what’s happened in the past and more concerned about what you’ll do in the future. We know that sometimes bad things happen to good people. Just because you’ve had some financial hiccups doesn’t mean that you shouldn’t have that new motorcycle you’ve always dreamed of! That’s why we exist. We can help you do just that.
MotoMax not only provides motorcycle financing for people with bad credit, but they have a great selection of pre-owned street bikes, dirt bikes, and cruisers. All vehicles have been checked out by certified mechanics to ensure that they’re safe and reliable, as well as having a high “cool” factor! We take care of you from purchase through the life of your motorcycle. Our service shop can handle all your maintenance needs; and if you ever need a part, we have that, too. We want to be your one-stop go-to place for everything having to do with your motorcycle.
MotoMax serves the cities of Raleigh, Durham, Cary, Chapel Hill, Garner, Knightdale, Oxford, Wake Forest, Henderson, and Youngsville, as well as the surrounding metropolitan areas. Stop in for a visit today and let us help you with your motorcycle loan. You’ll be glad you did!
