Women Riders

How to Pay for that New Motorcycle

Written by  August 31, 2005

When the bug bites, you go shopping! But when you find that perfect ride, how to pay for it? If you are lucky and have saved long and hard, you can pay cash for it, but most people go about buying a motorcycle backwards; that is, they find the bike first then worry about financing. Buyers should take just as much time shopping for a loan as they do in selecting what bike to buy.

Don’t let slick salespeople pressure you into loans with much higher interest rates than you could have gotten had you shopped for a loan at a bank, credit union or online. Determine how much money a lender is willing to loan first. There is no need to shop for a $20,000 motorcycle if the lender is only willing to provide a loan amount of $10,000. Salespeople frequently try for a quick sale, which normally results in pushing buyers to get motorcycle financing at the dealership. Don’t be pressured!

Understand the types of motorcycle loans that are available, and ask some of the following questions:

Is the interest rate fixed or variable? If fixed, for how long is it fixed?
Are there circumstances that could make the interest rate change in the future?
What happens if a payment is 30 days late? Does the interest rate increase?
How long is the term of the loan?
Is there a penalty if the loan is paid off early?
What is the down payment requirement to get the loan?
Is full coverage insurance required?
How much are taxes and registration fees and are they included in the loan?
Are there any administrative fees to get the loan, and if so, how much are the fees?

Stay in your financial comfort zone and don’t spend more than you can afford or it will result in you having little cash to enjoy your new ride and the motorcycle lifestyle. Also keep in mind the required expenses of insurance, registration, taxes, maintenance and any new accessories you might want to purchase. Believe me, it can be an expensive hobby, but worth every penny! The trips, the people you meet along the way, the sights and beauty of the countryside, and the fun you have at your destination are priceless.

If your company offers a credit union, check out their rates first. If not, try your local bank or savings and loan. Doesn’t everyone get multiple credit card solicitations weekly? Some offer low rates and interest-free terms for 6 months to a year, but be careful after the promotion time ends that you are not stuck with an 18-20% interest rate. Read the fine print!! There are also some outstanding interest rates online, but be careful with providing personal information in order to avoid identity theft.

The bottom line is that it is always best to shop for a motorcycle loan before you step foot in showroom.


Hi Goldie,
With all the rain we have recently lately, can you give me some tips on riding in wet weather?

Sue Mills
Platte City, MO

Hi Sue,
You are right; we have really had a downpour of rain lately. It’s great for our gardens, flowers and plants, but a real pain to ride in.

Here are a few pointers for operating safely in wet conditions.

Be careful! You don’t want to ride at the speed or level you normally do with dry roads.
Avoid slippery spots. Drive on the driest pavement you see ahead of you.
Reduce your speed, especially on curves.
Use both brakes and remember that the front brake is more effective than the back, even on slippery pavement. Squeeze the brake lever gradually to avoid locking the front wheel.
Avoid sudden moves, quick changes in speed or direction, which can cause skidding on slippery surfaces.
Watch for oil leaked from cars and trucks. Ride in the track created by the wheels of cars.
Watch for oil spots when stopping or parking. Putting your foot down can make you slip and fall.
Wet leaves on the road are almost as slippery as ice; be careful in the fall!

I hope this helps, and just remember to always ride defensively and ride in your comfort zone.


Summer is almost over and we will be heading into the fall season soon. I hope everyone has had a fabulous riding season so far, but the best is yet to come!

While out cruising bike nights a couple weeks ago we ran into some hot-looking future motorcycle divas, whose photos I included below. All of them were on their way to the Hilary Duff concert, but first stopped off at Margarita’s on the boulevard for a bite to eat. They loved our bikes and we couldn’t resist a photo moment!

Be safe and have a great Labor Day weekend!

Goldie Arnold
“Never ride faster than your angle can fly”

TIP OF THE MONTH: If someone is trying to merge on to the highway and you have room, get into the left lane. This can help avoid an accident or at the least make someone’s day a little brighter.