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If you have bad credit and have been turned down for financing in the past, you may wonder how some companies can advertise guaranteed motorcycle financing. The truth is that these companies will indeed offer motorcycle loans to people with bad credit, but the terms they offer can be so outrageous that they simply aren't reasonable. Sometimes the interest rate will be so ridiculously high that even applicants with the worst possible credit shouldn't accept the loan. Other times, the lender will approve the applicant with the contingency that the applicant will supply a large down payment, even though the majority of applicants with bad credit do not have access to substantial down payments. Not all lenders use these tactics, but some motorcycle lenders who claim to be able to finance absolutely anyone will employ these tactics when necessary.
You should know that you can probably find a motorcycle loan even if there are some dings on your credit report, but the worse your credit is the higher your interest rate will be. A bad credit motorcycle loan may also contain extra fees or have an extra long amortization. Always read all the documents before accepting a motorcycle loan, and never allow yourself to feel as though a lender is doing you a favor by approving you for a motorcycle loan.