-
Step 1
The first step to getting your motorcycle loan is to look back and see if you have any banks who have given you a loan previously that you paid off successfully. Banks you have a good credit history with are more likely to give you out a second loan.
-
Step 2
If you do not have a good credit history with a lender you can look into giving up a valuable item as down payment or collateral. Some motorcycle dealerships will give you down payment credit for electronics, appliances, jewelry, etc.
Those of you with a home or land could look into using it as collateral for the motorcycle loan. Remember times are tough now (2009) so even dealerships are desperate to make sales. -
Step 3
The final way you can get approved for a motorcycly loan with bad credit is to have a co-signer for the motorcycle loan. Make sure you have someone with good credit. It could be a family member, friend, etc. The better their credit score the better your interest rate. The better the interest rate the lower the payments. If you follow each of these steps I am certain you will have a motorcycle loan in the near future.
