Dirt Bike Financing ?

[Dirt Dud]

I have never financed a motorcycle but was going to on my last Gasser a 2015 300 . I have great credit and was approved for a low rate . Then the finance company researched my new ride and found out that it was a comptition bike . NO DEAL is what they said so I dug deep and paid cash . So my question is there good financing for a good credit guy who wants to finance a new dirt bike ?

 

[scratch250]

I've never had any problem financing through a couple different credit unions. Seems weird to me, is it a competition bike even if u don't compete? Idiots. And what's it matter if you carry ins...

 

[Dirt Dud]

This was a credit union and they could not get past the fact that the bike was not a street bike so they were not interested in loaning me the money . I would think as long as my record shows that I repay my loans what difference would it make ?

 

[scratch250]

I believe it's usually considered a recreational vehicle loan. I would've went to a different lender.

 

[3beejay3]

It's very frustrating when stuff like this happens. I see it all the time with banks, insurance etc.
It's dumb because those companies are supposed to be using facts and logic to make business decisions. Instead they get get bogged down in 'perception' and end up using emotions to make decisions instead of facts and logic.
What makes it worse is that the person responsible for setting these types of policies at these companies is probably getting paid well into the 6 figure range. Overpaid.....IMO

 

[hadfield4wd]

I also have very good credit. Also I have no debt except my mortgage.

Dirt I think you did good paying cash. I don't like credit. It's taken us a long time to get out of debt.

Its great that GG has a credit source in this day and age you have to be able to offer credit to people. My personal feelings aside if there isn't a way to finance it many people won't buy it.

 

[Dirt Dud]

They went on the internet and found that the EC300 was not considered a road bike . I went into Mattos with a blank check they sent me and paid him with it the interest rate was 1.9 % . Bud called and told me that they would not honor the loan because of what they read on the internet and they did not do loans for dirt bikes . So I sent them a insurance cert. and pictures of the Pa registration , lots pictures of the bike . They still said it was a off road only bike ? So I wrote Bud a check .

 

[iajim]

Sounds strange coming from a credit union. Thru a local Pipefitter/steamfitter credit union I've gotten car loans and I know they advertise loans for jet skis, 4 wheelers, snowmobiles and motorcycles. Almost sounds like they had something against dirt bikes??? I'd be interested in seeing some details of the GasGas financing. Interest rates per length of contract, down payment requirements, etc. The last time I financed a bike was 1981, wasn't a bad deal actually, but I had 50% down. Maybe this is a good niche for GG?

 

[Dirt Dud]

I think that there is alot of people that would buy a toy if they could get great financing as compared to a needed item . I sell equipment that makes money for the buyer so if the rate is higher they do not mind . It is putting money in there pocket . You will not see GasGas motorcycles or any other brand on antiques roadshow !No appreciation on these babes . But how many things make you money and can rail a berm or put a trophy in the bike room ?Now I am not saying we should all go out and finance a toy like this but why would a credit union pull the plug on me at the last minute ? PSECU was who did this and they really are not on my list a places to do business ? If anyone has a lender that they found to be easy to work with let us know so we can send them some business