How to Get a Motorcycle Loan with Minimal Stress


Our team at Hot Metal Harley-Davidson understands how difficult it might be to plan out how you will finance a motorcycle. The good news is that many motorcycles are very affordable. This means that even those with bad credit and minimal cash on hand are often able to secure financing for a motorcycle.

Looking to Finance a Motorcycle Soon?

Buying a Harley Davidson with bad credit in Pennsylvania and the surrounding area is normally very straightforward and easy to do. Below, we will guide you through the process of how this is usually done.

1. Check Your Credit Report

The first thing to do before you even think about your new motorcycle is to check your credit report. This is the same information that your lender will be pulling up when they decide whether or not to finance your loan. Your credit score will help the lender determine how trustworthy you are for paying your debts.

2. Determine Who Will Fund Your Loan

Although many people will go straight to the dealer to secure financing, you can also get your motorcycle financed from other sources. Personal loans from a friend are usually ideal since friends might not ask you to pay interest on the loan. Visit here for more information on dealership loans.

3. Pick a Model that Suits You
Once you have a basic idea of how you will pay for the motorcycle, it’s now time to start thinking about which model you want. Keep your personal needs and budget in the back of your mind so that you choose a model that won’t end up becoming too much of a financial burden.

4. Calculate the Down Payment & Monthly Costs

Before you sign a deal on any financing, make sure you know what you are getting into. If the terms have not yet been clear, calculate what your down payment and monthly costs will be. If you are securing financing from the dealer, ask them directly for this information before signing any paperwork.

5. Consider Buying on Credit Card

If you are somebody who is concerned about their credit history affecting their ability to get a loan but have a credit card, you might be able to simply finance your motorcycle on your card! If you buy a model that is only $5,000, for example, it is also likely that you can find a credit card with this sort of spending limit.

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