Motorcycle Purchase and Finance Done Right

Are you considering purchasing a motorcycle? You are not sure about how you should do it and how you should prepare for the motorcycle loan application? Following is a brief explanation and tips on how to purchase your desired motorcycle and how to finance the purchase by means of motorcycle loans. If you want to obtain advantageous terms both on the loan and on the bike purchase follow this advice carefully and you will achieve what you want without hassles. Though there is no particular order in which a motorcycle purchase steps should be followed, always remember that shopping for a motorcycle with the loan pre-approval in hand will guarantee you better terms on your loan purchase.

Shopping Around For The Right Bike

Before starting your search for your dreamed motorcycle there are a couple of things you need to resolve first: You should always consider your monthly payment possibilities with your budget at hand, you should also know beforehand how much money you are willing to spend for the motorcycle purchase and for the financing of that purchase and with that information in mind, you should start shopping for your motorcycle loan first unless you have the money ready for the purchase. In any case, when you have the money or the loan pre-approval, the shopping should start calmly knowing that you will not close on the first deal you are presented. Do not rush in or look anxious, remember that you will at first only be gathering information regarding models, brands, prices, etc.

Once you have gathered enough information you need to find a balance. Do not get capricious and consider your options, seek the bike that matches not only your taste, but also your budget and your convenience. After you have selected your desired motorcycle, find the lowest price you were offered for that bike and taking that offer with you contact the other dealerships to ask them to improve that offer. As you can see, this is the reason why you need to have the money or the loan pre-approval ready before contacting dealers: When bargaining, if you have the money or financing available, the dealers will take you seriously and try to improve the offer to keep you as a client.

Shopping for The Loan

Getting the loan needs to be done first. At least you should try to obtain pre-approval in written so you can show it to the dealers and bargain for a better purchase price. Motorcycle loans are not that difficult to get. If you have a fair or good credit score, things will really be simple. But if your credit is not that good, there is no need to despair. Bad credit motorcycle loans are available widely and by shopping around a little you can obtain competitive rates for bad credit motorcycle loans too. In any case, whether you are seeking a regular motorcycle loan or a bad credit motorcycle loan, you should request many loan quotes and try to contact lenders informally to know what they charge for financing. Once you have several loan quotes to compare, you should pick the loan with the terms that best adjust to your budget and finances.

The best source for new and used motorcycle loan quotes is undoubtedly the internet. You can apply online for motorcycle loans and take advantage of promotional terms that you would not otherwise be able to get from regular lenders. Thanks to the low costs that operations represent for online motorcycle loan lenders, they can offer reduced interest rates and very advantageous terms on your motorcycle and refinance motorcycle loans. Therefore, you should take advantage of these benefits and request your loan quotes online.

Asset Loans and Accounts Receivable Financing Solutions

Canadian business, during its search for new and innovative financing solutions keeps hearing about asset loans and accounts receivable financing solutions. These two types of financing for Canadian business owners and financial managers are a subset of what is known as an asset based line of credit.

The financing is newer to Canada, growing in traction and popularity, and still widely misunderstood as a total financing strategy for your company. Let’s clarify some of those myths and explore some of the benefits of these terms.

One of the main differences of an asset loan is that typically is financed through a non bank arrangement. You should seek this type of loan if you are unable to generate sufficient working capital to finance your business in a traditional Chartered bank environment in Canada.

In essence your receive financing and operating facilities, depending on how they are structured, around the various asset categories of your business – the two main asset categories are:

Accounts receivable

Inventory

In many circumstances you can also leverage equipment, and occasionally real estate.Clients then ask us why this is different from what they are used to – which is bank financing around these same assets. The answer is that a very strong focus is placed on the true underlying value of your assets – less reliance is placed on balance sheet rations, loan covenants, outside collateral, etc.

Most leases and operating facilities in a traditional bank environment are very cash flow focused. The irony of these types of calculations is very evident to the business borrower – that irony being that historical cash flow is used to forecast future cash repayment abilities. That quite often doesn’t work for many companies who are experiencing temporary challenges.

Asset loans, and asset based lines of credit focus on the collateral. Many clients we deal with have the collateral in A/R, inventory, purchase orders and new contracts, equipment, etc but can’t satisfy traditional cash flow lending requirements. That is why they are prime candidates for an asset loan, an asset based line of credit, or at its simplest and most basic form, a receivable financing that fully margins their accounts receivable with no set limit on future growth.

So now we understand what the facility is. How does it work on a day to day basis our clients ask? The answer is simply that it’s a facility that goes up and down, frankly every day, with your borrowing needs. As your receivables and inventory fluctuate you draw down against their current value. This optimizes the amount of cash flow and working capital available for sales growth and profit generation.

The security mechanisms around these facilities are very similar to any type of bank financing – that is to say that a first charge lien is placed on the assets being financed. Advances rates on accounts receivable and inventory are established and as cash is advanced and then repaid by your customers the cash is turned over to pay down your revolving balance. It’s as simple as that. The true beauty of the facility is that as you grow your facility grows with you – that is probably the most powerful aspect of such a financing.

These working capital facilities, predominately A/R an inventory based are becoming more traditional in nature ever day. Speak to a trusted, credible and experienced advisor in this area – if you are not getting the financing you need to grow and prosper competitively then this type of solution may be exactly hat you are looking for.

Unemployed Car Loans and How They Affect You

If you are out of work then you will no doubt realize that obtaining finance, particularly for a motor vehicle, is incredibly difficult. While most banks and major financial institutions will not lend you money there is a way that you can get your much needed motor vehicle under finance with unemployed car loans.

Unemployed auto loans are designed specifically for people who are out of work and receiving government benefits. If you are in this situation there really is no need for you to struggle with finding a lender who will give you a break when you are needing to finance your way into a new car. While big lenders may hesitate at giving you a loan, there are many other smaller companies who specialize in unemployed car loans.

Most lenders who deal with vehicle financing for the unemployed will generally offer two types. There are secured auto loans for those people who are not employed or unsecured loans. Secured unemployed car loans will require you to put something forth as collateral. Generally this will be the vehicle you are purchasing. Unsecured unemployed car loans on the other hand require not collateral. To decide which option is right for you, it is best to speak to your lender to find out the implications of each loan and how they may affect you.

Companies who offer unemployed car loans are aware of the circumstances of people who are out of work. They understand that even if you are receiving government benefits or subsidies that money is tight and so their unemployed car loans are offered at reasonable rates and in most cases the repayments are flexible so you will be able to work out a repayment schedule that suits your individual situation.

The first place you should begin your search for lenders who offer unemployed car loans is online. Since most traditional banks will not deal with these types of loans you will generally need to approach a more unconventional lender. The majority of these companies have established online facilities for their customers to make the process easier. You will find many such companies over the internet and a lot of information on their websites about their services and how these can benefit you and other implications that you will need to be aware of before buying your car.

Many of these lenders will offer flexible repayment options and even options where you can skip a payment if needed. But, before you make use of these options it is imperative that you find out any clauses associated with these and how they may affect you future repayments. Some lenders may just add a repayment onto your loan while others may require you to pay extra on your next repayment. Never make a decision regarding your vehicle financing without finding out everything that you need to know.

For many people a car is a necessity in life and just because you are out of work doesn’t mean that this is any different for you. Those people who are unemployed and need a car will generally have no other option but to purchase one under finance and in today’s market there really is no reason why you can’t secure unemployed car loans when you need one.