How Do You Obtain Financing For A High-Risk Motorcycle?
Financing a motorcycle that is considered high-risk can be challenging. In general, there are fewer motorcycle lenders than straight auto lenders. Compounding that problem is adding the high-risk element. However, given the popularity of motorcycles, it’s possible to secure financing. Check your credit report (see Resources below for where to get a free copy of your report). In order to obtain high-risk motorcycle financing and insurance, you need solid credit, with at least a 680 FICO score. You have to pay for the score. When reviewing your report, look for negative marks such as charge-offs, judgments, excessive credit lines (over four revolving accounts), bankruptcies and maxed-out credit cards. Clear up all negative information before applying for financing. Start with your insurance company. If at all possible, stay away from the dealership’s offer to finance a high-risk motorcycle. In most cases, the dealership’s financing offer is more costly and less favorable. High-risk motor
