I always try to pay cash for my cars and bikes. I’m sure lots of people would argue with me on this, but many people would agree with me. Why would I want to pay $1000 in interest over 3 years to the motorcycle loan company if I don’t have to? Of course, if you don’t have enough cash but still want to ride a motorcycle, consider picking a cheaper motorcycle or even a scooter to start with. Or, don’t buy a new cycle, buy used and save yourself thousands.

 

If you're going to finance the purchase, check out your loan sources before you go to the dealership. The dealer may have a low-interest finance package to offer you. On the other hand, they may work through a bank and actually charge you a few percentage points more - their profit - than you'd get by going direct to the bank. Shop your financing.

 

 

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