Online lenders often specialize in small market niches and motorcycle financing is one example on the upward trend. One of the latest statistics revealed that the average motorcyclist trades in their motorcycle every 18 to 24 months. One reason may be the need for a different riding experience - either for off-roading, a more comfortable ride, or faster speeds. Member driven websites for trading and bartering unite the motorcycle community, making it easy to find the perfect motorcycle. Once the shopper has selected their new bike, the motorcycle can be bought with a motorcycle loan. Getting financing from an online lender can provide enough cash to purchase a different ride quickly, without forcing the borrower to immediately trade in or sell their old bike.
Did you know 1 in 5 motorcycles being used as a primary source of transportation were manufactured in 1994 or before? These are bikes that have been maintained and treasured by their owners but are not necessarily the only motorycycle they own. Instead of trading in the old bike, they can enjoy the benefits from both bikes. Also, it's a great way start a motorcycle collection.