Get Pre-Approved
MotoMax is proud to offer a variety of financing options that range from working with other lenders to our full-service Buy Here – Pay Here financing options.
MotoMax offers in-house financing for the following:Ā
If you are ready to ride, MotoMax will get you on the road! Our “Buy Here – Pay Here” financing is only available for motorcycles and kids ATVs under 125cc and you must reside in a 75-mile radius of our store. We assist in obtaining financing on ATVs but only through local banks, finance companies and credit unions.
We are proud to be one of the only buy-here pay-here motorcycle dealerships in the Raleigh Area. With in-house financing, everything is handled here at the dealership. We qualify you AND loan you the money. You make your payments here, too. Our in-house motorcycle financing plan and used car financing is the easiest way to finance that new ride.
Please bring the following items to qualify for the lowest down payment and to make the best deal:
North Carolina’s driver’s license (required)
Two recent paystubs (Paystubs need to show Year-to-Date numbers).
(A)Home phone bill or cell phone bill (or receipts)
(B)Utility bills from your place of residence*
Insurance is only required for on-road motorcycles that requires a North Carolina issued license plate.**
Six personal references complete with name, address and phone numbers. Good references are people like parents, co-workers, friends, cousins, brothers or sisters.
If a down payment is required, we only accept cash, debit or credit cards. Visa and MasterCard only.***
*This can be a water, gas or cable/satellite TV bill, mortgage statement, rental lease or cell phone bill is preferred. (Must provide 2 pieces of mail that have your name on them).
**MotoMax does not require insurance on items that the state does not require liability insurance on.
***Cashier checks are accepted during normal banking hours when funds can be verified.
Did you finally find the Car, Truck, SUV, Motorcycle or ATV you have been looking for? And don’t want to lose out on buying it? Don’t have all the down payment you need to keep your financed payments low? Or you just want to wait a little bit longer before you get your motorcycle or ATV? Your situation could be different, but the solution is the same!
MotoMax now offers a Layaway Program to assist our customers with their down payments! Please contact your local MotoMax dealership to learn more! The terms and conditions may vary from by location.
Let us help you “Make Tracks at MotoMax!”
Our MotoMax professionals are waiting to assist you! Get riding today!
Customer can apply in person at the store or online. Customers that apply online will be approved subject to the information that is submitted online being verified. The terms of approval are based on the information that you submit. All customers are encouraged to apply online.
The website is safe and secure and all personal data is housed and processed by a secure site.
Financing for almost everybody!
Proud to offer the highest quality used powersport vehicles.
We are committed to customer service excellence.
āBuy Here – Pay Here, also known as, āIn-Houseā financing is a term used by MotoMax to describe a loan in which MotoMax holds the retail installment contract. These loans are owned and collected by MotoMax. All loan payments are paid to MotoMax. There are no banks, credit unions or other lending institutions involved which means the approval process is much easier. It also means even if you have bad credit or no credit, you will be approved. Our āin-houseā financing is only for motorcycles and kids ATVs under 120cc and you must reside in a 75-mile radius of our store. Unfortunately, we do not have in-house financing for dirt bikes, adult ATVs or scooters.
All retail installment contracts with MotoMax are “simple interest” contracts. This means that finance charges, often referred to as “interest,” accrue daily, beginning on the date of your contract. Each time you make a payment, the payment amount is applied first to accrued finance charges. The amount of finance charges that accrues is calculated by multiplying the number of days between the last payment and the next payment by your individual daily per diem. The per diem is the amount of finance charge incurred “per day.” The formula is as follows: Current principal balance multiplied by your finance charge rate and divided by 365.
YES, all customers that use our āBuy Here – Pay Hereā financing plan get reported to the credit bureau. MotoMax regularly reports both positive and negative payment information to theĀ EquifaxĀ credit reporting agency. On time payments can help you start or rebuild your credit history. Making your payments on time could result in a higher credit score. Having a good credit history is crucial to a successful personal and financial future. People and businesses will use your credit report to see how well you kept your previous payment agreements and take this into consideration when you apply for future loans.
One easy way to figure out how much interest will be paid on a loan is to multiply your monthly payment by the number of payments you will make to complete the loan. For example, if you took out a 16,000 motorcycle loan with a monthly payment of $255 per month for a term of 30 months and you fulfill the requirements of the loan by making on time payments for 30 months the total amount paid equals $7,650. The additional $1,650 reflects the interest you paid. MotoMax calculates interest using the simple interest method. MotoMax never charges a prepayment penalty. The faster you pay off the loan the less you will pay in interest. Any extra payments over and above your normal payment will automatically go towards paying down the principal balance.
Your credit score is a sort of numeric “grade” of how reliable you are to keep your promise to repay a creditor. An increasingly common name for credit score is “FICOā¢ Score.” FICOā¢ is a trademarked acronym for “Fair, Isaac and Company“, the company that developed the particular scoring method used to create the score. Scores range from 350 to 850; the higher it is, the better creditors like it. Scores are based on approximately 30 different factors. To find out more visitĀ www.myfico.com.
In today’s market good credit is often defined as credit score higher than a 660. If you have a 660 or better, you can find a cheaper financing option by using a bank or credit union. Banks and credit unions may offer lower rates and longer terms which mean lower payments.
If you want to dispute the reporting of your account by MotoMax please write to us at:
MotoMax
Attn: Credit Report Dispute
P.O. Box 1528
Henderson N.C. 27536
In your letter, please identify the specific information that you are disputing, explain the basis for the dispute, and include any supporting documentation to substantiate your dispute.
āIn-House financingā, āOn the lot financingā, āBuy Here – Pay Hereā and āTote the Noteā all refer to a type of financing which the dealer originates the loan inside the dealership and retains ownership for the term of the loan. In other words, the dealership owns and services the loan. Customers make payments directly to the dealership that they purchased the motorcycle or ATV from. The loan is not from a bank, credit union or other lending institution. We handle all the paperwork within the dealership.
MotoMax has several easy ways to make a payment. The most common, come into the store and make a payment. Another way is pay online using a debit or credit card. You can do this by clicking here:Ā https://www.myfexaccount.com/clients/_master/myfexaccount_default.aspx. The easiest way is to sign up for automatic payments. This method charges your credit/debit card monthly or deducts funds from your checking account when payments come due. We also have an automated number you can call to make your payment, 1-888-305-0264. Lastly, you can call one of our account specialists to make your payment (there is a $5.00 processing fee for this service).
We accept and approve all credit scores. Even if you have a score of 350, the lowest possible score, we will be able to get you approved. MotoMax looks at a customer’s current ability to repay the loan along with residential and job stability in our approvals. We understand customers might have experienced financial hardships in the past. We are here to help you get the best motorcycle within your budget and help you improve your credit score for the future purchases.