Fall is one of the best seasons for motorsports. The weather gets cooler in most parts of the country, and suddenly it’s not such a burden to layer up with all that safety gear when you go out to play on your motorcycle or dirt bike. Lake season hasn’t wound down yet, so an ATV ride around the trails is still feasible. And of course, there’s nothing like taking a fall road trip through the Smoky Mountains on your cruiser.
That’s a bummer for you. You’re missing out on all kinds of excitement as well as the opportunity to connect with a bunch of like-minded new friends. Maybe it’s time to invest in a sports vehicle.
It’s hard for anyone to save up enough money to pay cash up front for a motorcycle, ATV, or side X side but you could do it. It would just take some time. Think of all the fun you’d be missing out on, though, while those pennies are piling in the piggy bank.
Financing a sport vehicle like a motorcycle or scooter is easy if you have a high credit score. Any traditional motorsports dealer is happy to work with you. And your banker would probably be glad to lend you money, as well, if you decided to source the funding on your own. But what if you’ve had credit challenges in the past? That changes the whole picture, doesn’t it? It makes things a bit more challenging. But here’s the good news. You can you still get dirt bike or ATV financing even with poor credit history. You just have to know where to look.
For someone with poor credit, trying to buy a motorcycle, scooter, or other power sports vehicle is difficult at a traditional dealership. Trying to get motorcycle financing or cruiser financing when you don’t have a good credit score is nearly impossible. While it may seem as if the dealership itself is giving you the loan, the money is probably coming from a bank or the dealer’s own financing company. Either way, they’ll want to see that your credit history is unblemished. When they pull a credit report on you and discover that you’ve had some hiccups in your past, they usually turn away. For people who have bad credit, traditional motorcycle financing isn’t an option.
Buy here pay here financing is also known in the industry as on the lot financing. Dealerships that specialize in this type of financing are the best choice for people who need motorcycle financing but who have a low credit score. Buy here pay here financing means that you get funds directly from the dealership that you’re buying your new ride from; you make the payments to them, too. This works because the dealership is loaning you the money rather than you going through a bank. These dealerships specialize in working with people who have had credit challenges in the past.
With on the lot financing, it’s easy to get approved for a loan. Since these motorcycle financing dealerships use their own money to make loans to customers, they also have the flexibility to set the criteria for who they loan it to. In many cases, the credit application is short and sweet, and many of these dealerships don’t even require a social security number or a credit report. One buy here pay here financing dealership – MotoMax, located in Raleigh, North Carolina – guarantees credit approval for all its customers. They like it when a potential customer with bad credit comes in for scooter financing because they know they’ll be able to give it to them.
When you get motorcycle financing from an on the lot financing dealer like MotoMax, you’re not getting a revolving line of credit as you do with many traditional dealerships. This isn’t like a credit card. You won’t have an available line of credit to draw on for other purchases. While this may seem like a drawback, it’s actually a benefit, especially if you’ve had credit challenges in the past. You’ll get a loan for the dirt bike or cruiser you’re buying and nothing more. This helps you stay within budget.
Another benefit to getting your sport bike financing at a buy here pay here financing dealership is that these dealers often give you a break on some of the fees associated with the purchase. For instance, MotoMax never charges dealer prep or freight fees. This means instant savings for you. Other document fees may also be waived or discounted. Each dealership is different, so make sure you ask about it.
Here’s another benefit of getting motorcycle financing at an on the lot dealership. It’s easy to start rebuilding your credit score. Once you start making your monthly payments, the dealership will report your payment history to one of the top credit reporting agencies. This gives you brownie points in the eyes of other lenders and before long, your may see your credit score on the rise.
If you’re looking for dirt bike financing, give a buy here pay here financing dealer like MotoMax a try. MotoMax is the number one power sports dealer in North Carolina, serving the cities of Raleigh, Durham, Cary, Chapel Hill, Garner, Knightdale, Oxford, Wake Forest, Henderson, and Youngsville. They’ll be happy to walk you through the process of applying for motorcycle financing and will answer questions for you as you go. Give MotoMax a call, and you’ll soon be out there with the rest of your new friends, cruising the trails and having a grand time!
