I was reading the news the other day and found some stats that was surprising to me. Now that times are hard and people are trying to save money, I thought motorcycle sales would be great. After all, motorcycles are very good on gas, you can buy used ones for only a few thousand and in Florida you don’t even need any insurance! (although that’s not a good idea).
But it turns out that motorcycle dealers are really getting hit hard and are even going out of biz. Why? Well for the most part it’s because of the clamp down on credit. Getting a house, then getting a car are considered basic “needs” and you can get credit easier for those. But a motorcycle is looked at as a toy you don’t need.
So the credit companies are making it really hard to finance one. Even people with great credit are finding out they can’t get a loan for a motorcycle. Getting a Harley is easier because they have their own financing and they are not being as hard as the others. So, if your thinking of getting a motorcycle right now, save up your money!
Try to have as much down as you can so it’s easier to get credit. Go with a Harley if you like them, as it’s easier to get financing with them. If you have bad credit, forget about it. You can always get a used one for a few thousand if your not picky. Good luck!