Fast & Free Offer
Your free offer is just a few minutes away and all that you need to enter is a bit of basic information. Name, contact information, income information, bank info, etc. Don’t worry, everything is completely secure and if you like your offer, your lender could deposit the money you need for a dirt bike directly into your account. This can happen as soon as the next business day. Let’s get to it.
Why Loan Monkey?
At Loan Monkey, we can help you get access to a lender that may be able to make you an offer. We are not a direct lender. Instead, through our website, you can get access to a network of lenders. This makes it easier to get that elusive approval, even with bad credit.
In the powersport industry, a direct lender is usually owned by the manufacturer like Honda. The dealers use their financing services often exclusively. Get denied by this single lender and the show is over. With a network, if you get denied by one, your info simply moves to the next and so on and so on. This continues securely and quickly until you get a loan offer.
Getting Your Offer
It is super easy and fast to get an offer today. Start by filling out the quote form at the top. Most will get that done in about two minutes. Then you will get an opportunity to accept the terms and conditions before submitting your form for consideration.
The form now goes off to the lender network where it will go from lender to lender until one is found that wants to make you an offer. If one is found, they will send you the offer for your consideration or you will be directed to their website.
The worst mistake that you can make a this point is to let your desire to get a dirt bike get the better of you. You need to thoroughly read your loan offer and make sure that it is a good one. If you have bad credit, you already know that the interest is going to be higher than average but you need to look at the big picture. See what the total cost of the credit would be if you carry the loan to its full term. You can then decide if the cost is worth the benefit.
If you decide that the cost of the loan is worth it to get yourself a dirt bike, you can accept the loan. The lender will then work quickly to get you the money fast, as soon as possible. In many cases, you could have your money directly deposited into your bank account as soon as the next business day.
Buying Your Dirt Bike
Once you have your money, you can use it just like cash because that is exactly what it is. This means that you do not have to shop at just one powersports dealer. You can go to any dealer and shop any brand you like because you would now be a cash buyer. This gives you the power to put dealer against dealer to get the very best price and it allows you to get exactly what you want.
Another benefit to having the cash is that you can buy used if you like. Get a bike for a fraction of the cost of new. People buy dirt bikes all of the time, only to find that they do not really use them. They then end up selling them for pennies on the dollar online at places like Craigslist. For the same amount of money you might be able to get a UTV in addition to your dirt bike.
For many people, a loan might be the right choice, but it certainly is not the only choice. If you are on the wall as to whether to pursue dirt bike financing with bad credit, here are some other options for you.
This is an option that you are probably not going to like but if the cost of your credit is too much, it might be better to just do without it. No point in wrecking your budget for a recreational toy. So, if the cost is too much or you can not afford the payment, you might just skip the bike for now.
Buy A Cheaper Bike
Perhaps yo have some cash but not enough for the bike you like. If you do not want to go with financing, you might just buy a lesser bike. You might buy a lower displacement used bike online or even look at some of the inexpensive Chinese bikes on the market. They cost a fraction of what the major brands cost and although they lack some refinement, they might get the job done for now.
Improve Your Credit
If your credit is on the border of bad and average, you might be closer to getting a good rate than you think. A little time improving your credit and waiting a few months might just get you a more favorable loan offer.
Take the time to pull your credit and dispute any negative information. Then continue paying your bills on time and try to pay down your revolving credit balances. Just these little things could give you enough of a credit boost to get a good offer next time.
It takes about two months to start seeing results, but if you have time to wait, a credit rebuild is always a great idea. It will serve you well for years to come