Rev & Ride: Getting a Credit Union Motorcycle Loan (2024)

June 14, 2024 | By Ben Laurendeau

Rev & Ride: Getting a Credit Union Motorcycle Loan (1)

Embarking on the exhilarating journey of purchasing your dream motorcycle involves more than just picking out the perfect ride. Before delving into the benefits of a credit union motorcycle loan, it’s crucial to conduct thorough research upfront. Whether you’re an experienced rider or a newbie exploring the world of motorcycles, this initial phase sets the stage for a successful and enjoyable buying experience. Amidst the excitement of browsing through dealership options and envisioning yourself cruising down the open road, it’s essential to remain diligent and informed. At FFCCU, we understand the importance of making informed decisions, which is why we offer a comprehensive range of recreational vehicle loans, including motorcycles. Join us as we navigate the ins and outs of securing a credit union motorcycle loan and hitting the road with confidence and peace of mind.

RESEARCH YOUR RIDE

Even before we discuss the benefits of a credit union motorcycle loan, you’ll want to do upfront research. Fortunately, this is the fun part: selecting the bike that’s right for you. Experienced riders probably already know what they are on the lookout for. New riders will want to do more digging. Getting information at a dealership can be helpful in narrowing down your choice. You may feel some pressure, but remember that you’re allowed to say, “no thanks!” It’s good to shop around for a clear picture of rates and inventory. Doing a bit of detective work can save you a lot of money overall.

The FFCCU blog has covered some bike-buying basics before. When buying used, we recommend due diligence to ensure that you won’t have problems from the get-go.

MOTORCYCLE AND RV LOANS AT FFCCU

Our members join us for a lot of reasons, so you might not have realized a credit union motorcycle loan was an option. FFCCU is a bit of a summer travel essential, offering a wide variety of recreational vehicle loans. Most of us might hear “RV” and picture a motorhome; but that’s just one possible option. Campers, ATVs, UTVs, even boats, jet skis, and other watercraft can be financed through the credit union. We offer loans on both new and used vehicles. Whether it’s new or “new to you,” we can help you ride away with your new “toy.”

If you’re like me and ride your bike to work, that may not feel particularly “recreational!” Technical terms aside, information on a Firefighters Community Credit Union motorcycle loan is considered an RV loan. Though I’m focusing some attention on my fellow motorcycle riders, most of the topics covered below translate to any RV loan.

CREDIT UNION MOTORCYCLE LOAN PRE-APPROVAL

Just like with automobiles, many bike dealerships offer financing. It’s easy to feel pressured or confused when trying to handle a loan in the heat of the moment. At FFCCU we’re ready to discuss a pre-approval that works for you. We factor in your full financial picture to find loan terms and a payment tailored to your needs. You may even want to pair a loan meet-up with a Dare2Compare account review to cut costs in other places and leave more financial room for the ride of your dreams.

Pre-approval on a credit union motorcycle loan assures you of the amount you have available and your total monthly payment. Knowing the numbers will give you confidence when negotiating the price. Pre-approving any RV loan also speeds up the buying process. In some cases, we’ll have you roaring out of the dealership the same day!

CRUNCHING THE NUMBERS

A credit union motorcycle loan will likely give you a better rate than most competitors, but you’’ still want an estimate of what your payments will be. Check out our loan calculators to quickly get a picture of costs. Generally, a 10-20% down payment on a bike is a good benchmark, although you can often finance the entire purchase, depending on your credit score. Like with all loans, a strong credit score puts you in a better position. That said, if you are still building credit, you aren’t necessarily shut out of motorcycle ownership. Stop into an FFCCU branch, contact us through live chat at ffcommuntiy.com, or call in to make an appointment. Our teammates will be happy to explore all possible routes to get you on the road.

A CREDIT UNION MOTORCYCLE LOAN RIDES AT YOUR PACE

Trust me, I understand how exciting that warm weather is. Especially here in Ohio, the fear of missing out on the best riding days is a real concern! But take some time to do a little digging before you pick a bike. Once you have your eye on a particular ride, we’ll be here to make a plan, work through pre-approval, and have you on the road as fast as possible. Happy and safe travels!

Posted In: Lending, Lending

Rev & Ride: Getting a Credit Union Motorcycle Loan (2024)
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