The Best Used Motorcycle Loan Rates? - BMW Luxury Touring Community
 
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post #1 of 5 Old Apr 16th, 2008, 3:27 pm Thread Starter
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Thumbs down The Best Used Motorcycle Loan Rates?

Can anyone recommend a secure financial institution that offers low interest, long term bike loans online? My Capital One Auto Finance changed their policy effective today stating "no more motorcycle loans."

My Suntrust Bank will only finance year 2003 and newer. I'm looking to buy a 1999 vintage bike with 5000 mint miles from the original owner. I've been without my LT for one year and I have made a terrible mistake selling it.

Any online loan suggestions would be most helpful for an immediate purchase tomorrow before this one gets away.

Thanks in advance to all!
Larry and Barbara Seeman
Port Charlotte, FL

Larry Seeman
Port Charlotte, FL
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post #2 of 5 Old Apr 16th, 2008, 4:17 pm
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Re: The Best Used Motorcycle Loan Rates?

I went with my local "Credit Union" when I got mine. $15.00 to join and got 4.5% compaired to 8.0% from my bank and 9.9% from the BMW dealer. As long as the bike is less then 5 years old they "Should" finance it for you. Most will not work with you on bikes over 5 years old.

Stevie Shreeve
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post #3 of 5 Old Apr 16th, 2008, 5:00 pm
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Re: The Best Used Motorcycle Loan Rates?

Seems like credit is very tight right now and you would prolly have to get a personal loan at somewhere around 13 to 21% (maybe even higher) to finance a bike that old, regardless of milage.

The papers here are full of ads for used Harleys due to the credit crunch with housing foreclosures etc. Folks just can't make those payments. Banks are getting stuck for loans and folks are upside down (owe more than the Harley is worth).

Auto auction guy tells me that they have an overload of high end late model luxury cars going unbid on. Folks just can't keep up on those payments. If you have any cash now's the time if your lookin' to buy a Benz or such.

Dave
Monkton, MD
and Pawleys Island, SC
2002 K1200LTC

Last edited by Daman858; Apr 16th, 2008 at 5:07 pm.
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post #4 of 5 Old Apr 16th, 2008, 5:46 pm
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Re: The Best Used Motorcycle Loan Rates?

Quote:
Originally Posted by JoyfulSoul
Can anyone recommend a secure financial institution that offers low interest, long term bike loans online? My Capital One Auto Finance changed their policy effective today stating "no more motorcycle loans."

My Suntrust Bank will only finance year 2003 and newer. I'm looking to buy a 1999 vintage bike with 5000 mint miles from the original owner. I've been without my LT for one year and I have made a terrible mistake selling it.

Any online loan suggestions would be most helpful for an immediate purchase tomorrow before this one gets away.

Thanks in advance to all!
Larry and Barbara Seeman
Port Charlotte, FL
Just go to a local credit union. There are half a dozen in my area that would finance a 99my bike...

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post #5 of 5 Old Apr 16th, 2008, 7:40 pm
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Re: The Best Used Motorcycle Loan Rates?

I originally bought my 2000LT on my credit card. I also bought my brand new 07 K1200GT on my credit card. My credit union only charges 6.9 percent interest. Thats better than any used bike loan out there. For me it was to get them damm frequent flyer points

Brian Ley
WA State of mindless sheep
USA where everything is illegal
2007 K1200GT
2010 650GS
2000 k1200LT Sold but not forgotten
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