Question about a motorcycle loan .....?
okay so here is the deal, i am getting a loan from my bank, Mccoy Federal Credit Union, and the loan is for an 2009 Honda CBR 600RR, the loan amount is $13,800.26, included is lo jack, and other such things, my question is do i have to put a down payment on the loan to get the loan?
- Anonymous1 decade agoFavorite Answer
When looking for a Motorcycle Loan, most motorcycle buyers make the same mistake. It doesn't matter what time of year it is, whether interest rates are high or low or if its an endof year model with lots of incentives prior to the new model being released, the same mistakes are made when shopping for a motorcycle loan. And it can be costly! Looking to purchase a motorcycle before applying for a motorcycle loan.
Many motorcycle buyers venture to the showroom looking for their new motorcycle before they have even approached the loan company to find out how much money a motorcycle lender is willing to loan to them for them to be able to purchase their new motorcycle. They cannot purchase a $20,000 motorcycle, if the lender is only willing to lend them $10,000. This can and does cause big problems.