You’ve always wanted a dirt bike, and now is the time. You are ready to “go for it”! But you have questions, should you buy it brand new? Or is used a better option? Which is the best way for you to buy that dream machine? And, probably most importantly, how do you pay for it?
Dirt bike financing can be complicated, so that’s why we are here. Whether you want a new dirt bike or a used dirt bike, money is always a factor. Here are some tips to help you in deciding what is the best option for you.
What’s your budget? Do you qualify for Pre-Approval? Do you know your credit score? Knowing your credit score can help you understand the loan amount and terms you qualify for, and that will be a factor in what kind of dirt bike you can afford to purchase. It is great to do your research and as always, reach out to us for more information, no matter what your credit score is, or lack of credit score, our goal is to get you on your way to financing that new bike.
What are your goals for this purchase? Is this something you will be doing on the weekends, taking your dirt bike out for a quick spin off-road? Or are you thinking this might be something you do more often, a few times a week, and the possibility of getting into competitive racing down the line? This is something you need to consider before purchasing. Is there a spot nearby where you live where you can race? Are there tracks around? Or even a forest? Will you have to drive an hour back and forth to your home each time you want to take your bike out for a spin? All of the answers to this question will determine what type of bike you require for its specific use and if any additional add ons like a trailer or hitch for your vehicle may need to be included. Determining what type of rider you want to be is a good place to start in understanding the price difference in new vs. used and the financing options available to you.
Something you need to consider is how much of an investment you are willing to make with this purchase. Both of your time and your money. The purchase itself will take a lot out of your bank account, but if you don’t buy the right bike, it can begin to cost even more. You have to be sure you know what you are buying. Used may include some upkeep, maintenance, and financial cost along the way, while the initial ticket price is lower. Additionally, a new dirt bike may mean fewer repairs, a warranty included but the upfront cost will typically be somewhat higher, although with the COVID premiums these days that is not always the case. It is important whatever you are buying to ensure you find a reputable resource to purchase your dirt bike from.
Buying a brand new dirt bike can be daunting…they will be the most expensive, as compared to a used dirt bike. But remember, no matter if new or used, there will always be additional costs with taxes, license, registration, extended warranties…this alone could add up to hundreds, if not thousands, of dollars.
It may seem like a homework assignment, but researching your possible purchases ahead of time is worth it. Go online and take a look at the comparables, read reviews, and talk to real owners of bikes both new and used. Read riders have real experience and will offer you invaluable advice when purchasing your first bike, whether new or used.
Once you have done your research, have done your comparisons, and want to start the process of buying your Dirt Bike, please reach out to us at Breeze Financial. We are here to answer all your questions and get you on the road!