MOTORCYCLE FINANCING

WESTERN CANADA'S ULTIMATE RESOURCE FOR FINANCING A NEW OR USED MOTORCYCLE

GUIDE TO BUYING A NEW MOTORCYCLE

If you're buying brand new - it's best to lock in on an option first. Check out our directory of dealers sorted by Google Review rating to get an idea of where to shop. Since you won't have to compare things like mileage or condition when buying new - the most important thing is getting an all-in price from a dealer. When reaching out to a dealership ask for an "offer to purchase" which will break down all of the costs involved.

In most cases you can do this through email long before visiting a dealer. If the dealer won't present you with an offer to purchase don't be afraid to look at other options.

There is no reason a dealer can't provide this to you other than keeping fees hidden. If your dealer is the only one close to you with the bike you want - use them to get a fit on a bike, then reach out to dealerships a bit further out and see if they will deliver.

Once you have your costs pinpointed, its time for the dreaded financing. Most dealerships can offer lower rates known as "manufacturers rates" so it may be best to test out your rate direct first. Once you have gone through the process of locking in a rate it never hurts to get a second opinion from your bank. They may choose to match or even beat the rate - if they match it, you'll likely save some dealer fees.

If worst case occurs and you are declined - don't be too discouraged. Many dealers are tied to major banks for their lending and thus may have tight restrictions. In the event of a decline there are lenders and dealership brokers who may be able to help out. We recommend a dealer broker as they will have a network of lenders who will compete to offer the best rate versus a single lender.

We give the nod to Revival Powersports as they are local, keep credit checks minimal, provide a breakdown of their fees up front and don't charge based on credit. They also let you know of any issues that could be addressed in the event that they aren't able to secure an option.

When getting your approval in place - know your fees! Check to see if there are any add-ons or upgrades that are actually optional but tacked on to the price. Make sure that you actually want everything you're paying for and that the dealer isn't trying to pull a fast one on you.

Also be aware of any stipulations on the approval. Many lenders will require insurance as a minimum but some may require a certain amount or have other stipulations tied to the loan. Read the documents and ensure that everything is out in the open.

Once you have an approval locked down and you know your full cost and stipulations - it should be as easy as signed, sealed, delivered. Always ask the dealer for extras. You might get gear credit, a gas card or a free service thrown in. Check out our list of gear and accessories so you can get out and enjoy the open road!

TIPS WHEN BUYING NEW

Check out our directory of dealers sorted by best rated on Google.

• Shop and get an idea of what you're looking to buy first.

• Email and ask dealers for an offer to purchase showing full cost.

• If a dealer won't give you an offer to purchase, don't be afraid to shop elsewhere.

• If the bike you want only has one dealer local, use them to test fit. Then reach out to other dealers and ask for delivery.

• When financing - s dealer may give the best rate in the form of a "manufacturer rate".

• Once you know the rate you qualify for, see what your local bank offers. You'll almost always save fees even if they only match it.

• If you are declined, don't be discouraged - there are other options.

• If declined seek out a motorcycle loan dealer broker to qualify or help clarify issues so you can make a plan to improve credit.

• When getting approved, read the documents and be sure you understand your costs and that there aren't extras tacked on.

Be sure to know the stipulations required such as keeping your ride insured throughout the loan.

Always ask for extras, never hurts.

GUIDE TO BUYING A USED MOTORCYCLE

If you're buying a used motorcycle, we suggest focusing on your financing first. This way you have a full understanding of the amount you want to spend to get the payments you're after rather than overspending and being left with higher-than-expected payments.

The best place to start would be with your local bank. They have the understanding of your financial situation and may be able to get you the best option.

If the pre-owned ride is at a dealership, you'll likely want to get a second opinion through their financing program to see if they can beat your pre-approval.

If you're buying privately, an option would be to go through a private lender direct or through a dealer broker. Typically a dealership broker will have a number of
lenders to be able to get the best rate possible. We give the nod to Revival Powersports as they are local, keep credit checks minimal, provide lien checks, show a breakdown of their fees up front and don't charge based on credit. They also let you know of any issues that could be addressed in the event of a decline.

When getting your approval in place - know your fees! Check to see if there are any extras lumped into the price that weren't disclosed. Make sure that you actually want everything you're paying for and that the lender or dealer broker isn't trying to pull a fast one on you.

Also be aware of any stipulations on the approval. Many lenders will require insurance as a minimum but some may require a certain amount or have other stipulations tied to the loan.

Once your approval is locked in and you're ready to shop - you can use our motorcycle classifieds for preset KIJIJI filters and save some time & hassle.

Always ask for a discount on a sellers list price. Typically if they took they time to list, they are motivated to sell whether they say they are or not.

Be sure to get a lien check if the lender or dealer do not offer one. CARFAX is the best resource for the price as it gives a full history report.

Keep in mind that when you're financing for a private sale, there is processing time attached. Be sure to keep the seller in the loop on the financing if you're buying privately so that they don't sell it from under you. Read the documents and ensure that the numbers all match up and everything is out in the open.

Depending on the lender they may handle payment direct to the seller of the ride or they may have you handle it. Typically once paid for, you will be responsible for pickup so be sure to have an option set up ahead of time.

From there you can get some wind therapy and enjoy the open road. Be sure to
check out our list of gear and accessories to add to that enjoyment, happy riding!

TIPS WHEN BUYING USED

We suggest focusing on your financing first - this way you know exactly what you qualify for and can budget to meet your payment goals.

Give your bank first shot to see what they offer. They can be tough to get an approval through but typically offer the best rates.

If your bank can't help or you want a second option you can either check with the dealership direct if the used motorcycle is at a dealer OR seek out a used motorcycle dealer loan broker like Revival Powersports to get an option in place.

• When getting approved, read the documents and be sure you understand your costs and that there aren't extras tacked on.

• Be sure to know the stipulations required such as keeping your ride insured throughout the loan.

• When shopping, be sure to ask the seller for a better price. You can save a bit this way to offset the fees

• Always be sure to get a lien check if not provided by your finance company.

• Keep the private seller in the loop as processing time on the paperwork may vary by season and by lender.

• Use our motorcycle classifieds section for quick KIJIJI filters to make your search a breeze.

• When shopping, be sure to ask the seller for a better price. You can save a bit this way to offset the finance fees.

Keep the seller in the loop as to the progress of your financing so that they don't sell the bike on you.

Read the loan documents. Make sure the numbers you were quoted are correct. It sucks, yes, but do it.

Ask the finance company who is responsible for payment and be prepped to handle pickup.