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Finance calculator motorcycle3/15/2023 ![]() Rates, terms, and conditions are subject to change without notice. Actual payment will vary based on the total amount financed. For example, a $500 loan with a term of 60 months at 6.74% APR is approximately $19.21 per month per $1,000 borrowed. Additional discount of 0.25% available for debt protection insurance. Your actual APR may vary based on loan type, your credit history, ability to repay, approved loan amount, term, and applicable discounts. Advertised “as low as rate” APR assumes excellent credit history and maximum rate discount of 0.50% for ACH/automatic payment. Membership required–based on eligibility. Not all applicants will qualify or qualify for the lowest rate. Used vehicles are subject to Kelley Blue Book ®’s valuation.ģ – APR = Annual percentage rate. While a borrower may find a motorcycle loan lender willing to accept a lower credit score, the borrower’s interest rate will likely be two to five times higher (we have seen up to 24%) than those with average or excellent credit.ġ – A new auto is considered to be a vehicle whose model year is up to one year older than the current calendar year or newer.Ģ – A used auto is considered to be a vehicle whose model year is more than one year older than the current calendar year. ACCU uses Experian ® as our bureau of record.Ī borrower’s credit score doesn’t just determine the loan approval and term it also affects the interest rate the borrower is given. Most financial institutions will look at the borrower’s industry-specific auto FICO ® Score and their base FICO ® Score from the one (or all three) consumer credit reporting bureaus: Equifax ®, Experian ®, and TransUnion ®. It shows them whether the borrower is high or low risk. However, credit history (credit score) is one of the main factors that lenders consider to determine loan approval. If approved, your exact rate will be set based on several factors, in addition to your credit score. While a credit score is what determines your rate and term, it does not solely determine whether you are approved for a loan or not. The credit score you need to get a motorcycle loan depends on the lender. What kind of credit score do you need to get a motorcycle loan? ![]() ![]() Schedule a consultation with one of our loan officers to discuss available refinance options. If you do, they’ll work with you to run the numbers and set your new loan term to a lower monthly payment. We will need to check your credit history and then let you know whether you qualify for a lower interest rate or lower your payment (depending on your goals). You’ll need the right information and documents (mileage, VIN, current loan numbers, driver’s license, and income verification), then we’ll take it from there. Refinancing your motorcycle is an easy way to lower your loan interest rate and monthly payments. We are all about a life-long relationship – and there are discounts for automatic payments through our checking accounts – so if you want to get membership started first (it’s quick and easy), you can do so here. However, you’ll need to qualify for and complete membership to finish the process. You don’t need to be a member to start a motorcycle loan application. Do I need to be an America’s Christian Credit Union member to apply for a motorcycle loan? ![]()
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