Financing on a private sale bike?

[unL33T]

Forum Sponsor

Is it possible to get financing (and at a decent rate) if buying a bike privately instead of through a dealer? I've always paid cash for private used vehicles and only ever financed when going through a used dealership.

Search and Google gave me no good results.

Might be replacing my bike and kind of want to buy the replacement prior to selling my own.

Thanks.

 

[daisoman]

Auto loan or line of credit from any bank. Also I know Statefarm has auto loans but you would have to insure with them at full coverage.

 

[Julz]

get a line of credit. at least this way the interest is low plus your bike will not have any lien.

 

[kamikaze]

assuming you're just going to pay it off when you sell your current bike, I'd get a line of credit.

 

[bskin]

+1 for line of credit.

 

[crankcall]

secured line of credit for lowest interest rate.

 

[DemonPig]

Actually the lowest interest is one of those checks from your credit card companies. They go as low as 0 interest. Usually limited to about half a year and 1% fee from the total monies borrowed. So you end up paying 1% if you can pay it off within half a year. I bought 2 bikes like that before I sold mine.

 

[ajaxguy]

good to know!

Actually the lowest interest is one of those checks from your credit card companies. They go as low as 0 interest. Usually limited to about half a year and 1% fee from the total monies borrowed. So you end up paying 1% if you can pay it off within half a year. I bought 2 bikes like that before I sold mine.

 

[crankcall]

Actually the lowest interest is one of those checks from your credit card companies. They go as low as 0 interest. Usually limited to about half a year and 1% fee from the total monies borrowed. So you end up paying 1% if you can pay it off within half a year. I bought 2 bikes like that before I sold mine.

As long as it gets paid off in the time frame, otherwise its like buying furniture from the Brick

 

[Roomie]

As long as it gets paid off in the time frame, otherwise its like buying furniture from the Brick

This. Line of credit almost every time is the way to go. If I recall it's cheaper at the bank than a place like sf.

 

[Red_Liner740]

As long as it gets paid off in the time frame, otherwise its like buying furniture from the Brick

agreed, but the trick here is to have multiple CC which send you those cheques all year round...this is what my friend does....he just transfers money from one CC to another CC using those cheques, so far hes been able to carry a balance with 0% interest paid for two years now....lol

 

[warp speed]

The answer is "yes". I go to state farm.
They'll require the UVIP and that's it...
They cut you a check. That's in my case
at least. I have good standing with my
agent. Then when I sell my old bike, I pay
It off. Quick n easy

Forum Sponsor