Monthly Archives: October 2018

Motorcycles Offer a Fuel Efficient

At a time when many people across the globe are reeling from financial hardship, commuters are looking for ways to save some money on the cost of fuel.  Motorcycles offer a new alternative to standard cars and trucks and have begun to gain popularity recently, particularly amongst younger working males.  According to the United States Bureau of Transportation statistics, the average fuel efficiency for a passenger car is approximately 23 miles per gallon.  Although there are no set standards for motorcycle fuel efficiency, most manufactures and government officials say that most bikes average well over 50 miles per gallon.  If you begin to compare motorcycles against the efficiency of large trucks and SUVs, the advantages become even more noticeable.

Since motorcycles are relatively light and typically carry a single passenger, fuel consumption is affected by a number of factors that are somewhat negligible when determining the efficiency of most automobiles.  The biggest factor tends to be the weight of the passenger.  Heavier passengers or cargo will reduce the efficiency of the motorcycle, as the engine must work harder to support the movement of the additional weight.  Wind flow and aerodynamics also play a large role.  Automobiles are subject to standard aerodynamics tests that produce results based mostly upon the shape and materials.  Motorcycle riders must take many other variables into account.  Not only are the shape and material of the bike a concern, the composition of the rider’s clothing and the positioning must also be considered.  These factors vary dramatically from one rider to another, making the exact fuel efficiency of a motorcycle extremely hard to determine.

Despite all of the confusion over exact fuel consumption numbers, one thing has remained very clear.  Due to their much smaller engines and lighter weight, motorcycles are naturally more efficient than standard gasoline powered automobiles.  Many riders take advantage of warm climates or mild seasonal weather and drive their bikes almost exclusively.  Not only do motorcycle riders save money on fuel, they also reduce the size of their carbon footprint.  Motorcycle emissions are typically just a fraction of what is produced by most standard passenger cars.

The only drawback to exclusive motorcycle commuting tends to be the limitations of what can be worn or carried while riding.  I can’t really imagine too many business men cruising down the street in a shirt and tie or folding their neatly pressed slacks into a backpack – not to mention what that helmet will do to a perfectly styled head of hair.

Second Hand Motorcycle Deal

The purchase of second hand automobiles is a subject that interests many. The purpose of the purchase is to get a good automobile at cheap cost. Middle class people mostly purchase the Motorcycles as the mileage of the motorcycles is better in comparison with scooters. The second hand motorcycle deals have benefits of less cost of the automobile; no automobile loan is required. The deals have certain pitfalls as greater maintenance cost and lower insurance claims values of the motorcycle.

A good deal has a recently manufactured (within 1-2 years) and less than 5000 km run of the motorcycle. The buyer prefers most popular brands (Hero Honda, Kinetic, Bajaj in India) as the spares are easily available and resale value is good.

The following factors may be helpful to decide on a good motorcycle deal:

Condition of the piston and block unit – irregular noise on acceleration while the engine runs indicates defective unit

Tyres- weared rubber grip on the tyres is a bad indicator

Seat – sit and notice the softness of the seat- hard seats may require replacement of the cushion

Covering panels- check the color and fit of panels on the motorcycle, for loose fits and weared color avoid purchase

Power transmission- check the noise of chain while the motorcycle operates- for noisy chain avoid purchase

Shock absorbers- oil leaks and soft shock absorbers are not preferable

Headlights and indicator – check if these are working

Gear operation – operate the gears at various different speeds of the motorcycle to check operation

How To Get Approved For A High Risk Motorcycle Loan

Are you in the market for a motorcycle, but have bad credit and need a high risk motorcycle loan? Well don’t worry the goal of this article is provide you everything you need to know about getting approved for a high risk motorcycle loan.

First you must understand how motorcycle lenders go about classifying you as high risk. On the average, when a motorcycle lender is looking to approve any motorcycle financing they have a much higher cut off in the credit score range than an auto lender. This exists whether you have good or bad credit.

So with that said an auto lender may approve a FICO credit score of 610 as not a high risk, but a motorcycle lender would most likely classify a FICO credit score of 610 as a high risk motorcycle loan and may not offer an approval on it.

There are two reasons for this:

1. Motorcycles are much harder to repossess in good condition than an automobile. As a result of this simple fact, if you default on your motorcycle loan it is a higher risk to the motorcycle lender than an automobile lender because it is much harder to repossess a motorcycle in good condition than a car.

With all the new motorcycle riders entering the industry there is a high incident of some form of minor or major damage on many motorcycles, which translates in to a lower amount per unit a lender gets when they repossess a motorcycle for a customer that chooses to get bad credit over paying for their motorcycle loan. The damage could be from the repossession agency or the actual owner but the simple fact is motorcycle fetch much less at repossession auctions than automobiles.

This simple fact is one reason good and poor credit motorcycle loans are offered at much higher interest rates than a car and has an overall lower approval percentages when compared with cars.

2. The average motorcycle tends to depreciate very fast. Since motorcycles have higher accident rates and there are many people who once they crash do not pay off their loan, this results in higher defaults for motorcycle lenders. This is another reason motorcycle loan rates are higher and motorcycles are hard to get approved for.

Ok, now that you have a background in how a motorcycle lender views a motorcycle loan, let’s look at how you can get approved for a high risk motorcycle loan.

Step one is to really understand your credit report and credit score. Sure if you are looking for high risk motorcycle financing, you probably have had some credit issues in the past. But you never know how those credit issues played out on your credit report until you get a copy of it.

Take a look and make sure everything reported on your credit report is actually true. See every year 1000s of people just like you find creditors made errors on their credit report, which negativity impacted their credit score. If your FICO score shows a 610, but there is 1 error on your credit report you could easily raise your FICO credit score to 625 or higher by getting the error fixed. Always get errors fixed on your credit report before you submit a high risk motorcycle loan application.

Step two is to clean up your credit card debt. I know you are probably thinking I can not do this, but it can make a huge difference in helping you get approved for high risk motorcycle financing. See motorcycle lenders do not like to see your personal credit cards maxed out. Therefore, before you submit your application for motorcycle financing you should try to pay down your credit card debt. Even if you have to do it for the short term it can help you tremendously with getting approved.

For instance, if you have a 610 FICO credit score you will probably be declined if you have all your credit cards maxed out. However, if you are able reduce your credit card debt by 50% you stand a much better chance of getting approved for a high risk motorcycle loan. This is a simple concept but you will be surprised by how many motorcycle buyers fail to do this and never get approved.

Step three and the final step is too finally submit your motorcycle loan application. There are many lenders that specialize in high risk motorcycle loans. I recommend tying about 2 or 3 online motorcycle lenders and then move to your local credit unions or financing provide by the dealership such as Suzuki Finance, Honda Financing, Kawasaki Credit Card or the Polaris Star Card.