Tag Archives: often

Familiar Errors Motorcycle Consumers Often Make When Shopping To Get A Motorcycle Loan (Page 1 of 2)

December 10, 2019   Home Mortgage

Regardless if motorcycle loan rates are increasing or decreasing or it’s the closing of the model year with tons of dealership promotions, many motorcycle consumers tend to make the same common mistakes when shopping to get a motorcycle loan. Normally there are four common mistakes motorcycle consumers often make with motorcycle loans.

1. Looking for a motorcycle before considering looking for a motorcycle loan.

A lot of motorcycle consumers frequently enter the showroom looking for a motorcycle before considering how much money a motorcycle lender is willing to loan to them for the purchase of a motorcycle. There is not a lot of need to look for a twenty thousand dollar Harley motorcycle, whenever a lender is only willing to allow a loan amount of less than the motorcycle costs.

Additionally, once motorcycle consumers enter the showroom slick salespeople many times pressure them into motorcycle financing using much higher loan rates than they could have gotten had they shopped for a motorcycle loan at a bank, credit union or on the net. Salespeople don’t like motorcycle riders to leave the dealer to shop for a motorcycle loan. In the salesperson’s view this simply increases the possibility of loosing a sale and commission. Thus, salespeople more often than not attempt for a quick sale which normally results in pushing motorcycle buyers to get motorcycle financing at the dealership.

The bottom-line is that it is always best to shop for a motorcycle lender before entering the dealership showroom.

2. Plunging into the unknown motorcycle loan.

Motorcycle buyers many times get motorcycle financing that they don’t wholly understand or may not be the right alternative for them. These days motorcycle OEMS more often than not focus their promotions around credit card motorcycle financing on their own private-label credit cards. However these consumer financing incentives usually offer a reduced interest rate for a very short term like twelve or 24 months and have a tremendously higher interest rate after the short promotional term. On a private label credit card promotion if motorcycle buyers can not manage to pay off the loan during the short promotion period, then they are generally better with a little higher rate on an installment motorcycle loan for an extended term.

3. Borrowing too much.

The most reoccurring mistake the first time motorcycle buyer makes is normally not getting a clear feel of how much motorcycle they might be able to afford. This is particularly true for young motorcycle purchasers who look to purchase the most advanced sport bikes. What they neglect to understand is that financing a $10,000 – $15,000 motorcycle may hurt them financially resulting in them having little cash to enjoy themselves and the motorcycling lifestyle. They may also have too little cash to pay for insurance, maintenance, registration or new accessories for their motorcycle.

4. Not asking the right questions.

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Some factors regarding payday loans

November 1, 2019   Personal Loan

There aren’t many people in this world who have not faced a situation where they needed money badly for some emergency. These emergencies could come in the form of medical bills, school or college fees, house or car repair, etc. Payday loans, or cash advance, are meant to help you in these grave situations. As the phrase suggests, payday loans are those that you can avail before your next payday arrives. From this you would realize that this is usually a choice when you are in need of money urgently and where you just cannot wait till your next payday.

Payday loan amount would be often provided to you the next working day after you apply for it. All it needs from you is to be 18 years of age or more, employed or have a regular source of income and to have an active bank account. Once you apply for it, usually online, there is very less formalities that remain for the lender to transfer the amount to your account.

The interests for payday loans vary according to the choice of the loan lender. From £15 it could go as high as £30 per particular number of days for a loan of £100. Often, the due date of the loan varies from 15 days to 30 or your next payday.

Payday loans are often quite attractive as you could avail it without many formalities and efforts. For shopaholics this is good news because they could buy anything they fancy without waiting for their pay cheque. It all sounds great and attractive, but there has to be a catch somewhere, isn’t it? Yes, there is, and the catch is that for the amount you avail as a payday loan you have to pay a huge interest and that too within a short period of time.

This is the reason why you have to be very careful while getting payday loans. In fact, unless your need is that great, it would be better to avoid it. However, many times life would bring before you circumstances where you have no other option but to go for it. In such situations just remember to go for a loan lender who is reputed and has excellent recommendations from any of your acquaintances. Also, make sure that you repay the amount within the same month and not extend the due date under any circumstances.

It is better if you don’t go for payday loans for impulse shopping or purchase. It is something that has to be availed only when your need is unavoidable. More importantly, be aware of the all the terms and conditions of the leading agency before you go for it.

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