Automobile

It might be better to finance your motorcycle purchase rather than pay in full

Now that you have saved up enough money and you are ready to purchase the motorbike that you’ve always wanted, another spanner has been thrown into the works because now it might be more cost-effective to purchase your motorcycle with finance. Now that financing has become a lot more affordable and it is open to a lot more people, some are having second thoughts about slapping the money down on the counter and paying in full. This extra cash will allow them to buy the best safety gear available and also to put some extra add-ons onto their motorcycle to make the ride even more enjoyable. There is always the benefit as well of improving upon your credit score which can be seen as a very useful thing if it is your wish to buy a property in the next few years because you’re going to need a mortgage.

Now that I have created this dilemma in your head, the next time that you go to Wheels Motorcycles, you really do need to ask them about the finance deals and how they can benefit you. If you are still quite adamant that you want to hand all of the money over that you have saved in the past 2 to 3 years then maybe the following benefits of taking out finance might encourage you to think again.

  • Unbeatable finance deals – Depending on the type of bike and the manufacturer you want to buy your bike from, there are some really excellent deals out there and it is not unheard of for dealers to be offering 0% finance deals on some of their motorcycles. This means that you get to drive back home today and you keep all of the money that you saved in your pocket. It just wouldn’t make sense to pay in full when you’re not paying any additional interest on the purchase and so you will be paying exactly the same price if you were putting the money on the counter and paying in full.
  • Deferred payment deals – These are perfect because you get to drive your motorcycle out of the showroom and they are not looking for any money from you every six months and you don’t have to pay any interest on that as well. It is a marketing gimmick that is incredibly popular but it is in your favour and it is something that you should be trying to take advantage of. It is known as a deferred payment and as long as you pay off the purchase within the promotional period then you do not suffer any penalties. This field is perfect for people who fall short of the full purchase price but would like to get the motorcycle today.

As you can see, you don’t always have to pay in full in order to be able to get the best deal possible. In fact, when you take your motorcycle out on a finance deal, your dealer is probably authorised to give you some freebies like a helmet and a jacket.

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