Tips for Financing a New Motorcycle

Looking to finance a motorcycle, but not quite sure how to get started? Then we have the perfect article for you! While financing may seem intimidating at first glance, the process is actually much easier than it seems, and you can easily walk off the sales lot with your new model the same day you apply for a loan. To learn how just check out our helpful motorcycle financing guide below. 

Prep Your Finances 

Before you begin filling out loan applications, or even browsing new motorcycle models, you’ll need to take some time to prep your finances for your upcoming purchase. To start, we encourage you to do your best to get your current credit score up to 650. This can easily be done over time by making regular charges and timely payments on your credit cards or paying off old debts that have begun to accumulate. 

While your credit score is on the rise, don't forget to start saving up for your motorcycle’s down payments, which will range anywhere from 15 to 20 percent of its total price. To make sure you have enough in the bank, feel free to take a look at models you may be interested in online, and see how much they typically go for. 

Set a Budget

To avoid falling into debt you can’t afford, it’s important to have a budget set for your upcoming motorcycle purchase. To do this, you’ll need to subtract your monthly expenses and income to see what you have left over for your regular loan payments. While your loan may offer you more money than what your budget allows, we advise against spending this extra cash, as you risk seriously damaging your credit and even having your motorcycle repossessed. 

Having trouble finding a motorcycle that meets your unique preferences? Struggling to find quick and easy motorcycle financing? Then be sure to visit us here at Indian Motorcycle® of Orange County! Our location here in Westminster, CA offers both financing services and an amazing stock of motorcycles for sale and proudly serves the areas of Orange County and Los Angeles, CA.