Should I get a loan on a used motorcycle?
That is the question, isn’t it? With so many available financing options and motorcycle lenders, finding an ideal fit can be an overwhelming process. That’s where RumbleOn comes in.
RumbleOn is pleased to announce the creation of RumbleOn Finance. While we have always utilized other lending options for our fellow riders, we needed to create a one-stop and seamless experience to alleviate the confusion of the lending process. RumbleOn Finance is the answer to that.
Many of us get a little uneasy at the mention of ‘loan’ and ‘alternative financing’ when it comes to funding a particular project or lifestyle, and we can certainly sympathize. But when it comes to financing a used motorcycle for sale, you shouldn’t be afraid. There are benefits to consider.
Borrowing money (which is what you’re doing when you take out a loan) reaps substantial rewards as long as you’re well-informed and go about it responsibly. For one, getting a loan can greatly improve your creditworthiness as long as you’re in good financial standing (i.e. you don’t have any outstanding debt elsewhere and your paycheck can cover the cost of living in addition to the motorcycle loan), make regular payments, and communicate with your lender. Satisfy these requirements, and your credit score will be thanking you later.
Sure, you’ll have one more monthly payment to make, but it isn’t forever. You know what is forever? The bike life, and owning a motorcycle is the key. Let’s take a look at a few more questions pertaining to RumbleOn Finance and how we can help you buy used motorcycles:
Where do I get motorcycle financing?
Traditionally, personal loans through a bank have been a popular choice because borrowers can customize the loan to fit their individual needs. But we recommend applying for financing online through RumbleOn Finance. By using qualifiers such as your employment history, residence, and credit score, RumbleOn Finance will help you find a ride with a feasible down payment and manageable monthly installments. Heck, we’ll even help you get pre-qualified!
What credit bureau agency do you use to obtain my credit file and credit score?
We’ll pull from either Transunion or Experian, and, in some cases, we’ll pull from both in order to thoroughly evaluate your credit profile. (Scores will often vary from one agency to another based on scoring models used.)
What kind of motorcycle financing rates does RumbleOn Finance offer?
RumbleOn offers competitive fixed rates that are driven by the market. The good news is, a fixed interest rate helps borrowers accurately predict future payments during the fixed rate period, so budgeting for your loan becomes much easier.
How long does it take to get approved for financing through RumbleOn?
It’s possible for loan applicants to get approved for financing in as little as 20 minutes. You just need to submit your application during banking hours and be sure we’ve received the proper documentation. Also, having your documents ready (i.e. a valid driver’s license and proof of insurance at minimum) and using our document upload technology inside of our secure customer portal, makes the process even faster.
Can I get a loan through RumbleOn Finance even if I have a low credit score?
If you have a low credit score, it may be difficult to get motorcycle financing from the vast majority of lenders. Fortunately, RumbleOn works with many reputable banks who aim to find you the best financing rate available. With a low credit score, there may be additional requirements, such as a larger down payment and higher rates, but you will more than likely be able to get a loan through us.
Which states are supported by RumbleOn Finance?
Currently, we offer motorcycle financing in the following states: California, Colorado, Florida, Idaho, Indiana, Michigan, North Carolina, Ohio, Oregon, Texas, Utah, Virginia, Arizona, Tennessee, and Washington, and plan to expand nationwide by the year 2020.
Your head is probably swimming with loan terminology at this point, and that’s okay. Just know that when you apply for a motorcycle loan through RumbleOn Finance, you’ll be working with a group of individuals who have 95+ years of experience in the auto finance industry, so you can rest assured that we’ll be able to develop a plan that suits your unique situation.
Note: RumbleOn is an Amazon Affiliate, dedicated to reviewing the best and safest gear and more, for riders everywhere. We may receive commissions if products are purchased from them.