Everything You Need to Know About Financing Your Harley-Davidson® Motorcycle

Choosing your first, or your next motorcycle is sometimes as exciting as riding it. Of course, there are some not so fun parts to shopping for a motorcycle, like budgeting and financing. The process of buying a motorcycle can be confusing, which is why Bartels’ Harley-Davidson in Marina Del Rey, California, has provided you some of the most important tips for financing your motorcycle.

Not sure what the point of financing is? We’ve got you covered there, too. You can also talk to our experienced staff about other great ways to save on your motorcycle purchase and which models we’d recommend for you. We’re happy to help all those from Malibu and Santa Monica, so contact us today!

What Are the Benefits of Financing?

Everyone deserves to ride the motorcycle of their dreams, but not everyone can afford the motorcycle of their dreams. Not without a little help, anyway. That’s where financing comes in. Pulling out a loan can help cover the cost of most of the bike, which you’ll then pay off in smaller increments over an extended period of time.

This can be particularly helpful to those who can afford the monthly payments and won’t be burdened by it. Sure, you could wait a little longer while you save up to pay off the whole thing, or you can get your bike right now and enjoy the thrill of the open road with the sun on your face and much of the country finally opening up again. 

Your Financing Options

There are a few ways you can finance your motorcycle, although some of the most common options will be through third party lenders. There are certain businesses that specialize in offering financing options for big purchases, even specifically for motorcycles. You can also get a loan through a bank or credit union, or you can ask about personal loans.

The benefit here is that you can look at a number of different options and rates and choose the lender that’s right for your budget and needs.

Or, you might be looking for a more convenient option. That’s where our online financing options come in. You can take advantage of the financing offers of the Harley-Davidson® program and work with our experienced experts to get the right loan for you and your bike. 

Budgeting Properly

Speaking of budgeting, you can’t approach financing until you understand your budget properly. Keep in mind, the loan won’t cover everything. The expectation is that you’ll be paying a downpayment, which can still be a significant amount of money. Make sure you’re prepared to pay this, on top of some other crucial spending points, like:

• Riding gear 

• Maintenance

• Fuel

• Registration

• Riding classes (if you’re new)

• Insurance

Just to name a few. What your budget ultimately looks like might affect which financing offer you choose, so make sure you spend a good deal of time on this before making any final decisions.

What They’re Going to Ask For

When you do choose a lender, there are a few things they’ll likely ask from you before they give you the loan. They want to confirm that you’ll actually pay back the loan, based on your past financial history. 

Some of the things the lender may want to know include, but are not limited to:

• Your credit score

• Your credit history

• Your debt-to-income ratio (will require knowing your income)

• Your down payment

• Age of the powersports vehicle

• Price and value of the powersports vehicle

• Trade-in information

You’ll want to speak with the financing expert you’re connected with to figure out which of these, or other, types of information you’ll need to have ready when you start ironing out the details.

Your motorcycle should be an escape from the stresses of your day-to-day life, so it shouldn’t become a financial strain to you. Ask us how we can help you find the perfect bike at the perfect price here at Bartels’ Harley-Davidson. We’re open for business at our Marina Del Rey location in California, proudly serving Malibu and Santa Monica, so visit us today!