So my question is, has anyone ever financed an old motorcycle? Not like Evo old because the only people on the planet who think Evo's are "Classics" are this site's builders, but I mean real classics. Like Pans and Shovels. Bikes with cast iron jugs. Is it even possible, or are the guys who want old iron simply paying cash? Sorry, but this is my late night Saturday cocktail question...ha!

 

I think banks/credit unions only finance relatively new vehicles.
You'd probably end up having to take out a personal.

 

I can. but I have a good relationship with my banker. I've bought some bad **** thru the years.

 

You may have to look around, but I'm guessing you can, just at a higher interest rate. Now prepare yourself for all of the people about to give you that "If I can't pay cash for something, I'm not buying it" ****!!!

 

Hey, let them all bark away. Years ago used bikes were just that.....used bikes. They didn't cost much, anyone who wanted one could afford one, and there were plenty of basket projects laying in garages for those with any real gumption. But once the people with money got into motorcycling, the good old days came to a screeching halt. Shovels seem to still be bringing very good prices now a days despite the economic crunch, and Pans that are solid runners bring even more money. I was just curious what people who wanted second bikes such as the vintage FL's had to do to come up with the cash. Were they getting loans, or just writing big checks?

 

Like a 1967 FLH????

 

I know there are some banks that deal in vintage but most would make you take a personal loan. Most banks have guidelines about what is acceptable for a loan.

 

According to a friend in the used car business, it is hard to finance a car over 10 years old. That seems to be when blue book hits value hard.

He did say that changes once the car become antique. Then it regains value and financing becomes an option.

I will say it because it is expected, If you have to borrow money to buy a luxury, which a vintage motorcycle is, well you know what common sense should tell you.

 

I would think some of them have lines of credit, so they just write the cheque and then make payments to thier line of credit, that's like financing and the bank really don't care what u use your line of credit to buy.

 

I have never financed a bike so it my not apply but.. In my experience with my CU for buying a wheelchair accessible van they take a lot of upgrades in consideration even if the vehicle is over 10 yrs old. The additional equipment with the lift usually brings the value well above bluebook. If it is a decent bank they will not turn down any loan that will make them low risk money. Just my 2 cents.