Are Bad Credit Motorcycle Loans Possible

Are bad credit motorcycle loans possible? This is a question I am asked over and over again, whether it is just meeting a person on the street or though e-mail from a person that found my motorcycle financing website. Well the short answer is yes bad credit motorcycle loans are totally possible even if you have a bankruptcy on your credit report. However, there are certain things you need to consider before looking for a bad credit cycle loans because you can be taken advantage of just because you have poor credit.

First off understand that over and over again in the world of motorcycle loans, I see cycle buyers with bad credit tend to focus more on desperation for getting approved for motorcycle financing rather than making a good decision for there financial future. As a result, when the typical motorcycle buyer with poor credit is approved they are often stuck with hefty fees, and backend products that leave them paying much more for their motorcycle than they should.

If you have bad credit and need a motorcycle loan, the best advice I can give you is do not let someone tell you that you have to pay document fees, extended protection, Gap insurance or other add on products to get approved. Sure you may have to sacrifice for a higher interest rate on your bad credit motorcycle loan, but you do not have to get taken to the cleaners with a bunch of other fees.

It is the above reasons that it is important to try to sometimes go straight to the lender and find a lender that will finance bad credit motorcycle loans I am not going to tell you that it is easy to get approved like if you had good credit but if you work a bit you can find motorcycle lenders specializing in bad credit. Here are some options you may want to consider.

1. Online Motorcycle Lenders: The nice thing about working with online motorcycle lenders is that you are going directly to the lender and there is no middle man involved with placing you in a loan that may put you in a bad situation. Going directly to the lender for bad credit motorcycle loans is always better in my opinion because the lender does not want to place you in a loan you will default on. On the other hand, going through a middle man you will find the middle man will want to place you in a situation where they will make the most money which could be a very bad loan for you.

2. Credit Union: Your local credit union may buy bad credit motorcycle loan more often than the average loan at a dealer because the credit union only has a small percentage of its overall loan portfolio in bad credit motorcycle loans. This allows them to control losses a bit better than a dealer because they have other thinks finance not just motorcycles. So they may approve bad credit motorcycle loans a dealer will not touch.

3. Personal Loans: Many people with poor credit tend to many times go for personal loans. I only recommend this option as a last resort, but I would much rather a bad credit applicant get the credit straight before getting a personal loan. The reason being is personal loans typically have very negative terms for motorcycle buyers and they can sometimes have interest rates in the 30% range. This is not a good situation for a motorcycle buyer.

4. Local Banks: Sometimes local banks can be an option for finding bad credit motorcycle loans, but typically they are stricter than Credit Unions. So check with your online motorcycle lender or credit union before going to a local bank. But similar to a credit union, local banks probably do not have a ton of their loans in motorcycles so this helps you chances of getting approved sometimes. Many times the less experience a bank has with motorcycle loans the better for you because they can sometimes evaluate bad credit motorcycle loans the same way as a car loan which typically is much more lenient.

So in a nutshell, if you are looking for bad credit motorcycle financing it is totally possible. It will require you to do a little more research than the http://www.blogger.com/img/blank.giftypical person with good credit, but your efforts will be well worth it when you are riding your new motorcycle. The best thing for you to consider is not getting frustrated if one lender turns you down, because there is definitely a bad credit motorcycle loan out there waiting for you. You just have to start online or at your local credit union to get going in the right direction to financing your motorcycle.

Motorcycle Loans For Military With Bad Credit

Motorcycle loans for military with bad credit aren't hard to come by. In fact when you start your search for the lender you will find more then an ample supply of companies just waiting for your business. Have you really thought his purchase through though?

There are many reasons for having bad credit. Some credit scores are easily brought back to par by checking your credit report and making sure your personal information is up to date. Other things can happens to your report as well, such as your credit report might show UN paid bills that you know you have paid. Things like this can be disputed with proper proof of payment. On the other hand there are issues such as bankruptcy, divorce, unpaid loans, tax liens etc. That makes up a nasty credit score. The only way to fix these types of things is with time & budgeting.

Every one knows motorcycles are great fun so the want for one is valid. They don't use a lot of gas, you don't have to worry about playing taxi for your friends and all in all it is a reliable means of transportation. If you want that bike bad enough you are going to get it, but think it through. A good saying to live by is "If you find yourself in a hole....quit digging!"

Like mentioned before motorcycle loans for military with bad credit aren't hard to come by, but what is going to be hard to come by is getting a reasonable APR. If you want that loan you are going to pay for it largely in interest. The better bet is to work on your credit score first before you make your purchase!

Timothy Gorman is a successful webmaster and publisher of Military-Loans-Online.com. He provides more military auto loans, home loans, payday loans and military motorcycle loans [http://www.military-loans-online.com/motorcycle-loans.html] that you can research in your pajamas on his website.