How To Get Approved For A High Risk Motorcycle Loan And Financing

Are you in the market for a motorcycle, but have bad credit and need a high risk motorcycle loan? Well don’t worry the goal of this article is provide you everything you need to know about getting approved for a high risk motorcycle loan.

First you must understand how motorcycle lenders go about classifying you as high risk. On the average, when a motorcycle lender is looking to approve any motorcycle financing they have a much higher cut off in the credit score range than an auto lender. This exists whether you have good or bad credit.

So with that said an auto lender may approve a FICO credit score of 610 as not a high risk, but a motorcycle lender would most likely classify a FICO credit score of 610 as a high risk motorcycle loan and may not offer an approval on it.

There are two reasons for this:

1. Motorcycles are much harder to repossess in good condition than an automobile. As a result of this simple fact, if you default on your motorcycle loan it is a higher risk to the motorcycle lender than an automobile lender because it is much harder to repossess a motorcycle in good condition than a car.

With all the new motorcycle riders entering the industry there is a high incident of some form of minor or major damage on many motorcycles, which translates in to a lower amount per unit a lender gets when they repossess a motorcycle for a customer that chooses to get bad credit over paying for their motorcycle loan. The damage could be from the repossession agency or the actual owner but the simple fact is motorcycle fetch much less at repossession auctions than automobiles.

This simple fact is one reason good and poor credit motorcycle loans are offered at much higher interest rates than a car and has an overall lower approval percentages when compared with cars.

2. The average motorcycle tends to depreciate very fast. Since motorcycles have higher accident rates and there are many people who once they crash do not pay off their loan, this results in higher defaults for motorcycle lenders. This is another reason motorcycle loan rates are higher and motorcycles are hard to get approved for.

Ok, now that you have a background in how a motorcycle lender views a motorcycle loan, let’s look at how you can get approved for a high risk motorcycle loan.

Step one is to really understand your credit report and credit score. Sure if you are looking for high risk motorcycle financing, you probably have had some credit issues in the past. But you never know how those credit issues played out on your credit report until you get a copy of it.

Take a look and make sure everything reported on your credit report is actually true. See every year 1000s of people just like you find creditors made errors on their credit report, which negativity impacted their credit score. If your FICO score shows a 610, but there is 1 error on your credit report you could easily raise your FICO credit score to 625 or higher by getting the error fixed. Always get errors fixed on your credit report before you submit a high risk motorcycle loan application.

Step two is to clean up your credit card debt. I know you are probably thinking I can not do this, but it can make a huge difference in helping you get approved for high risk motorcycle financing. See motorcycle lenders do not like to see your personal credit cards maxed out. Therefore, before you submit your application for motorcycle financing you should try to pay down your credit card debt. Even if you have to do it for the short term it can help you tremendously with getting approved.

For instance, if you have a 610 FICO credit score you will probably be declined if you have all your credit cards maxed out. However, if you are able reduce your credit card debt by 50% you stand a much better chance of getting approved for a high risk motorcycle loan. This is a simple concept but you will be surprised by how many motorcycle buyers fail to do this and never get approved.

Step three and the final step is too finally submit your motorcycle loan application. There are many lenders that specialize in high risk motorcycle loans. I recommend tying about 2 or 3 online motorcycle lenders and then move to your local credit unions or financing provide by the dealership such as Suzuki Finance, Honda Financing, Kawasaki Credit Card or the Polaris Star Card.

How To Get A Used Motorcycle Loan

The world of used motorcycle loans is traditionally confusing to many motorcycle buyers involved with purchasing a used motorcycle but it does not have to be if you are equipped with a bit of knowledge.

When looking for used motorcycle financing, you should first consider where you will purchase the motorcycle from. For instance, will you purchase from a dealer, an individual or a vehicle auctions?

This could highly affect your used motorcycle loan decision and the direction you will choose to focus your energy with getting your loan worked out.

Here are some things to consider with each option:

1. Auction Purchase: If you are thinking of purchasing your used motorcycle at an auction it is highly recommend that you have your cash ready to buy ahead of time. Therefore, if you are going to finance the used motorcycle from the auction you will need to line up the financing first as most auctions do not offer financing.

There are several online motorcycle lenders offer used motorcycle loans, so this is a good option. Basically these motorcycle lenders will approve you online and then send you a check for the amount you are approved for to purchase your motorcycle.

Another option for your auction purchase may be to get check your local credit union for used motorcycle loans. Sometime the credit union may offer it under a personal loan but it is all the same.

2. Individual Purchase: An individual purchase will work similar to an auction purchase.

You will need cash in hand to make the purchase so you will have to line up your used motorcycle financing first before the actual purchase. Online motorcycle lenders or your local bank and credit union can help you with this and send you a cashier’s check.

Most individuals prefer a cashiers check or money order so be sure to ask them before you drive all the way to their house to make the purchase.

3. Dealer Purchase: With a dealer purchase you will have a variety of options for used motorcycle loans.

You can still choose to use online motorcycle lenders as they tend to have highly competitive motorcycle loan rates or you can use the dealerships financing. They can get you approved fast and money in your hand in 24 hours typically so making the purchase is simple. You will not have to go to the dealer and wait an hour while they do all the paperwork.

Dealers normally offer consumer financing through GE Capital (AKA GE Money) or HSBC Retail Services which is an option as well. These offers could be on a credit card or a standard installment loan and you motorcycle loan rate will be based on your credit history.

Don’t forget about your credit union and local banks as they can handle dealer purchased as well.

In the end financing a used motorcycle does not have to be difficult, you can easily use online motorcycle lenders for used motorcycle loans at competitive rates or even choose a dealer or local credit union. Online motorcycle lenders may prove to be the best option because you can arrange them in the comfort of your own home without waiting hours in a bank or dealer.

Take Responsibility And Wear A Motorcycle Helmet

According to the National Highway Traffic Safety Administration (NHTSA), when comparing a automobile to a motorcycle rider the motorcycle rider has a 35 percent greater chance of getting hurt or dying in a automobile accident compared to a driver in a automobile. When wearing a helmet it is less likely that the motorcyclists will receive a serious head injury and more likely to survive the accident according to the The National Highway Traffic Safety Administration.

Safety helmets for motorcycle users are the law in many states, optional in others. Especially so if the helmet is rated for safety and is properly fit to the wearer. Safety is what it's all about right.

When wearing a motorcycle helmet it will protect your head against the following, it protects your face, your ears and you are able to have an intercom system to talk to others. A helmet protects your head and your face from injuries. There are many different types of helmets ranging from helmets that have a face guard and helmets that have an open face so you can feel the wind on your face, helmets can be customized to your specifications. Looking for full face helmets can be a challenge. On helmets the face shield can retract by lifting up and down.

Because Motorcycles lack the protection of other vehicles, such as a car or truck, severe injury is much more likely. For comfort and protection they generally have fabric and foam interiors. Motorcycle helmets act as a protection device for your head.

When looking at helmets to purchase don’t let the price determine which helmet you will purchase, you will need to look at the protection factor it can provide and how it is rated. Helmet design considerations are all about the tolerable impact the head can handle, which the soft linings provide as protection, and the exterior protection from punctures.

When trying on a helmet press down on the helmet and make sure that it fits properly and it feels comfortable and check to see if it surrounds your entire head. Before putting a helmet on a child, it is a good idea to check for defects such as cracks, loose padding, frayed straps or exposed metal that could be unsafe for the child.

Even if you don’t choose to wear a motorcycle helmet for safety reasons, there are other reasons. With many designs and makers to choose from, you would surely have your hands full finding one that you will like. There are a lot of motorcycle helmets you can choose from. The designs are made to match the likings of the women to provide more appeal.

Safety helmets successfully reduce the chances of head injury to a great extent. For instance, according to the National Highway Traffic Safety Administration has estimated in a report that if you do not wear a helmet there is a 40% chance that the rider will suffer a head injury and a 15% chance of it being a fatal head injury.

Motorcycle Sound Systems: What Is The Right System For You?

Motorcycle sound systems have come a long way in the past couple of years. We all like to hear the wind and rumble of our bikes, but if we are riding for a few hours it's nice to hear some tunes to help the miles roll by.

In the past the choices for motorcycle sound systems have been somewhat limited. Bulky am/fm radios with less-than-spectacular speakers often provided more grief and inconsistent reception than they were worth.

Well, that has changed for the better with the modern electronic revolution. With the advent of i-pods, satellite radio, and MP-3 players, the music of our choice is more available than ever.

The current offerings of sound systems vary widely but most offer better performance than even the top of the line models of just a few years ago.

There are several things to consider when looking at motorcycle sound systems. The ability to plug in your MP-3, satellite radio, and i-pod provides a lot more flexibility in your sound system.

Typically, if you are going on a road trip outside of your usual haunts your standard am/fm radio will be losing channels and you'll need to search for more.

If your sound system incorporates the new technologies you'll be able to listen to your favorite tunes for miles and miles without monkeying around with channel surfing.

Another advancement is the sound delivery system. Gone are the old speakers that strained to deliver clear, crisp sound at 60 mph. New external speakers are driven by small yet powerful amps that deliver clear crisp sound at any speed.

Another excellent advance is the in-helmet audio. The current offerings provide an excellent sound with no external speakers to clog up space on your bike.

Whatever system you choose, just keep in mind that technology will be constantly advancing so if you can get a system that is flexible it will allow you to upgrade as new technologies become available.

Bajaj Kristal Review

Bajaj returns….

The launch of bajaj kristal

The win over Hero Honda (remains the market leader in 100cc segment) in 125cc (with Bajaj discover) and 150cc (with Bajaj pulsar) motorcycle (geared ones) segment does not come without a compromise for Bajaj, it loss it’s scooterette market (once Bajaj Chetak was known as scooter of India) to Honda activa and Hero Honda pleasure. Bajaj is set to regain the scooterette market with Kristal and Blade.

Can Kristal meet its peers?

Honda entered the scooterette market with the 102-cc gearless Activa in 2001. Activa is the market leader in the segment and sells nearly 28,000 units a month. Hero Honda rolled out its first 100cc gearless scooter the “Pleasure” across India in 2005, is proved to be a successful model. Bajaj is going to launch a full-size scooter Blade for men (could feature a 150cc engine), which will compete with the Kinetic Blaze (India’s first maxi scooter-featuring 165cc engine). Bajaj launched its new 95cc scooter Kristal targeting the fair sex (women)

Scooterette are widely used by ladies, hence it demands greater style, light weight, hassle free, greater comfort, good luggage space for shopping compromises can be made on power, mileage and price for the sake of rest.

Kristal features DTSi (digital twin spark ignition), exhausTEC (torque expansion chamber) and SNS (spring-in spring) suspension system.

Ride and comfort:

The Kristal’s engine is a 95cc unit, which puts out a peak power of 7.2 PS at 7,500 rpm and a maximum torque of 7.7Nm at 5,500 rpm. ExhausTEC and DTSi enable it to achieve a better fuel efficiency with lesser pollution. The Kristal also features a one-speed variomatic gearbox. Kristal clocks a top speed of about 75 kmph. Kristal is on par with its peers scooty pep plus and HH pleasure to offer a combined mileage of 48kpl.

Kristal features leading link with co-axial shock absorber &spring at the front and SNS at the back. Kristal’s broad and soft-foam seat makes it comfortable and supportive. Handlebar grips, made of soft and durable rubber, have been designed to give the rider a comfortable feel. Vibration transfer is well contained during speeding, but at idling there is still considerable vibration, though the handlebar grips do a good job of dampening much of it.

Design and dimensions:

When comes to design practicality predominates the style. Thoughtfully made plastic panels at the front are practical enough to save your scooter from scratches. Instrument cluster features a fuel gauge, speedometer, analog distance counter, indicators for the side stand, turn lights and for the high-beam. Kristal weighs about 99 kg and with ground clearance of 131mm makes it easy to handle. With the widest wheelbase (highest in its class) of 1250 mm it makes lot of foot space. With an under seat storage space of 22 litres and an appreciable front glove box space make Kristal a shopping bike.

Special features

It is the special features which make the vehicle a cut over the rest and are good enough to lure the ladies. Kristal does away with the choke it features an electrically operated fuel pump/feeder which eases the starting engine at cold condition. It has the unique Front Fueling system that ensures a convenient refueling to the rider by avoiding the bother of getting off the vehicle while re-fuelling. Kristal provides automatic headlamp controlled by a sensor which senses low light conditions and switches on the parking lamp and it also lights up the instrument cluster, prompting the rider to also turn on the main headlamp. Penta-lock (five) facility –ignition lock, petrol tank cap, side lock, accelerator lock and seat lock shows the producer interest on practicality of the Kristal. A bulb to light up the storage area (only offered in scooty pep plus) and a beeper prevents the seat from accidentally closing at a fuel station and protects your child from crushing fingers. Accelerator lock and side stand alarm offers you better safety.