Lawn mower financing calculator. Maintaining a beautiful lawn or garden takes hard work

Vehicle Loans

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• A U.S government-issued photo I.D (e.g. driver’s license, state identification)
• If applying with a Co-Applicant, please have the secondary applicant’s information
• Current paystub

What you’ll need to apply

Already a member? Please have the following handy before you begin:

• A U.S government-issued photo I.D (e.g. driver’s license, state identification)
• If applying with a Co-Applicant, please have the secondary applicant’s information
• Current paystub

Not yet a member? You can apply for a loan and become a member all at once! Please have the following handy before you begin:

• A U.S government-issued photo I.D (e.g. driver’s license, state identification)
• Your social security number
• If applying for a joint account, please have the secondary applicant’s information
• How you qualify for membership (confirm your eligibility here).
• Routing and Account number to fund your new Keesler Federal account

What you’ll need to apply

Not yet a member? You can apply for a loan and become a member all at once! Please have the following handy before you begin:

• A U.S government-issued photo I.D (e.g. driver’s license, state identification)
• Your social security number
• If applying for a joint account, please have the secondary applicant’s information
• How you qualify for membership (confirm your eligibility here).
• Routing and Account number to fund your new Keesler Federal account

However you like to get around, we’ll get you in the driver’s seat

Take off on the ride of your choice in no time with our fast and easy application, pre-approval options and flexible terms. We offer loans on new and used motorcycles, watercraft, RVs, outdoor vehicles, golf carts, tractors and lawn mowers.

Choose up to 100% financing for new and used vehicles, plus tax, title and extended warranty. Plus, pay off your loan on your terms, ranging from 3 years to 12 years, depending on your vehicle.

As an added bonus, having a vehicle loan with us makes you eligible for our monthly Member Giveback drawing.

New Motorcycle Loans

Includes cruiser, sport, touring, off-road, motorized tricycle and dual-purpose motorcycles.

New Watercraft Loans

Includes powerboats, sailboats, jet-skis, waverunners and other personal watercraft.

New RV Camper Loans

Includes motorhomes, campervans, coaches, fifth-wheel trailers, popup campers and truck campers.

1 APR is annual percentage rate. Actual rates and terms vary based on credit history, loan amount and collateral.

New Outdoor Vehicle Loans

Includes four-wheel all terrain vehicles (ATV) and side-by-side utility vehicles (UTV).

New Golf Cart Loans

Includes gas, electric and diesel models that can also be considered street legal.

New Tractor Loans

Includes tractors, farm equipment, implements and riding lawn mowers.

1 APR is annual percentage rate. Actual rates and terms vary based on credit history, loan amount and collateral.

Our quick and easy application process usually takes 10 minutes or less to complete

Ready to buy the vehicle of your dreams or get pre-approved before you start shopping? Here’s how the loan process works:

Complete the Application Process

Upon submittal, you are notified instantly if the loan is approved, denied or referred for additional review.

Check Your Loan’s Status

You can monitor your loan’s progress and send us necessary documents thru our loan status portal.

Close the Loan. Get the Vehicle

Upon receipt of all the required documents, the loan is typically funded within 24 business hours.

Protect yourself and your purchase

Get peace of mind with valuable protection coverage options for your financial security. Take advantage of these valuable protections by asking your loan officer for details or you can request more information here.

Protect your vehicle investment, not just its value

In most cases, your vehicle is worth a lot less the second you drive it off the lot. Guaranteed Asset Protection Advantage (GAP) coverage can help you fill in that gap. GAP is a voluntary, non-insurance product designed to waive the remaining loan balance not covered by your primary insurance carrier settlement in the event of a total loss or unrecovered theft.

Protect yourself in the event of sickness or injury

Credit Life and Disability insurance may make your loan payments when you can’t and can provide peace of mind during a difficult time. Protecting yourself against unexpected life events and disability could help protect more than your finances. In the event you are sick or injured and unable to work for 31 days or more, this coverage would continue to make the loan payments until you are able to go back to work or until the loan is paid off, whichever comes first.

Peace of mind for your family

In the event you were to pass away, your auto loan would be paid off in full with Keesler Federal Credit Union and a clear title would be issued, leaving no debt to your family.

Coverage is designed to fit your needs, and you decide which payments you want to protect and the monthly premium may be added to your loan. Coverage is designed to fit your lifestyle, it is totally voluntary, it won’t affect your loan approval, and it’s simple to apply. You can sign up for credit insurance at your loan closing or anytime you like.

Learn About Our Protection Plans

Want specific information about our protection plans? Complete the form below and we’ll be right in touch with more information.

Vehicle Loan Calculators

Calculate the terms and payments that best fit your budget.

Maintaining a beautiful lawn or garden takes hard work.

Helping your customers get outdoor power equipment they need to transform their property doesn’t have to.

It’s simple. Your customers want to keep their property looking great. Lucky for them you are here to help. How? By putting the quality mower, snow blower, or other lawn and garden equipment they need within reach. Revolving or installment credit, new or used equipment-Synchrony has the financing power you need to get the job done.

A consumer financing program that’s a cut above

than a budget-friendly way for customers to get the zero-turn radius mower of their dreams, Synchrony provides tools and support that helps to simplify your success.

Revolving credit lines and installment loans with promotional financing offer customers a compelling reason to choose your business.

Give your team tools they need to sell with financing with online training.

Streamline your credit application process. Customers get a decision almost instantly.

Promote your financing with free marketing and advertising material.

Online financing platform to track performance analytics and create reports.

Lawncare pro or landscaper?

Is your business making other people’s lawns look good? We want to help you too. Whether you’re just starting out or growing your fleet of high-performance mowers, you’ll find the flexible financing you need to succeed.

Financing for the brands you know and trust.

Our manufacturer partner programs offer financing for top lawn, garden and outdoor power equipment brands.

Success stories. Industry insights. Made for you.

Explore what’s worked for others in the outdoor power equipment industry and get the latest insights into consumer purchasing patterns.

57% of Synchrony cardholders wouldn’t have made the purchase, or would’ve gone to another retailer, if financing wasn’t available. 1

It’s true. The right financing can help close the sale. For more insights into consumer buying behaviors, ask us about our Seventh Annual Major Purchase Study, Lawn Garden 2019.

Synchrony Success Story

Meet Ben and Oscar Cavazos of MAE Power Equipment in Mission, Texas. They are recent recipients of a Synchrony Small Business Award. See how they used their winnings to grow their business and give back to their community.

Succeed with Us.

It’s simple.

• Fill out theform below.
• Our team will contact you within one business day.
• Together we’ll create a plan for your success.

Get started today.

Provide a few quick details and we’ll give you a call to discuss your consumer financing needs.

To speak to someone immediately, call us toll-free at 1-844-866-8014, Mon–Fri, 8 AM to 8 PM ET.

(Please have your Tax ID and banking information available.)

Nice to meet you.

One of our consumer financing specialists will be in touch soon to learn more about your business —and show you how Synchrony can help you grow it.

In the meantime, we invite you to browse the latest news, industry-specific perspectives and research on purchasing trends.

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1 Seventh Annual Major Purchase Study, 2019

Motorcycle Loan Calculator

This calculator figures monthly motorcycle loan payments. To help you see current market conditions and find a local lender current current motorcycle loan rates and personal loan rates personal loan rates are published below the calculator. The second monthly payment budget calculator shows how expensive of a motorcycle you can buy given a monthly loan payment.

Monthly Motorcycle Loan Budget

Use this calculator to estimate the bike price you can afford given a set monthly loan payment. To help you see current market conditions and find a local lender current motorcycle loan rates are published in a table below the calculator.

A Complete Guide to Buying a Motorcycle: Loans and

The lure of the open road can be hard to resist, and for many men and women nothing beats the fun and excitement of traveling the world on a finely tuned motorcycle. Whether it’s cruising the highways on a Triumph Rocket X or tearing up the trails on a KTM 350 EXC, there’s an indescribable magic that only happens when you’re seeing the world from the back of a bike. But there’s a lot to consider before you can grab yourself a bit of that motorcycle magic, and you need to think carefully about whether or not you are ready to join the ranks of motorbike enthusiasts.

A Short Quiz for Buyers

Buying a motorcycle is a major commitment, both personally and financially, and you need to be sure that you understand just what you’re getting into before you head out to the dealerships or start making offers on second hand bikes. Begin by asking yourself a few specific questions.

• Do you really want or need a motorcycle?
• How much can you afford to spend?
• Can you afford the additional costs of ownership and maintainence?
• What type should you buy?
• Should you buy a new or used model?
• How will you finance your purchase?

Considering Wants vs Needs

A motorcycle is a unique form of transportation. While it may seem romantic to don your leather and head out on the highway, riding a bike isn’t for everyone. Before you buy, be sure that it’s more than just a passing fancy. Consider the risks and responsibilities of riding, and ask yourself if you are truly up for the challenge. Take a safety course, and talk with other motorcyclists to get a feel for the real day to day operation and upkeep of a bike. Remember, a motorcycle is a major investment that deserves careful consideration before you commit to a purchase.

Figuring Out What You Can Afford

While motorcycles are typically less expensive than cars or trucks, they’re still a significant investment. Before you start shopping for bikes and applying for loans you need to figure out what you can safely afford. Use the following steps to help you arrive at a workable budget for your new bike.

• Add up your total cash assets.
• Figure out your monthly income after taxes.
• Add up your total monthly expenses.
• Subtract your expenses from your income to determine how much you can afford to pay per month on your motorcycle loan. Be sure to allow a healthy safety margin here, so as not to strain your regular household budget. Remember there will be additional costs to operating and maintaining your motorcycle, and these will also impact the overall cost of your bike.
• Multiply that amount by the number of months you will need to pay off your loan. Keep in mind that motorcycles tend to depreciate in value rather quickly, and most financing options are restricted to 36 to 60 months.
• Assign any of your cash assets as a down payment. The larger your down payment the more manageable your loan. A larger down payment also increases your chances of qualifying for financing.

Additional Costs of Ownership

Motorcycles are often seen as an inexpensive alternative to other forms of transportation, and to a large degree they fulfill that promise. Most models, barring custom jobs and high end cruisers or touring bikes, do sport a lower sticker price than most cars or trucks. However, there are a fair number of secondary costs associated with owning and maintaining a motorcycle, and before you take the plunge you should be aware of those costs and how they can effect your bottom line.

• The Motorcycle – Obviously, the cost of your bike is hardly secondary, but it bears repeating that motorcycle can, and do, vary greatly. A good starter bike, say a standard or dual sport model, can run anywhere from 5000 to 12,000; and a custom bike or high ended cruiser can cost as much as 30,000. Certain models will dictate higher insurance rates, and may need a higher level of maintenance. These costs add up, so it is important to choose a model that fits in with your budget.
• Insurance – There is a myth that motorcycles are cheaper to insure than cars or trucks. That may be the case if you are an experienced rider with a spotless driving record, but it does not hold true all of the time. A number of factors come into play when you insure a motorcycle, beyond your driving record and the cost of the bike itself. Some models have higher theft rates, and so will be more expensive to insure. Other models, like sport bikes and custom jobs, may be seen as having a higher risk profile which can cause insurance rates to spike. Naturally, you will want to shop around until you find the best insurance policy at the best price, but don’t assume that just because you are buying a motorcycle you will be guaranteed cheap insurance.
• Maintenance – Motorcycles require a great deal of regular maintenance, much more than a car or a truck. Over time, the cost of that regular maintenance can definitely add up. For example, motorcycle tires typically need to be replaced every 3000 miles, and that can run anywhere from 400 to 800 for the set. Figure in spark plugs, belts, chains, and valve replacements, and you can expect to spend between 1000 and 1500 a year on maintenance costs alone.
• Gear – Motorcycle helmets, jackets, gloves and boots should be standard issue for all riders. If you drop your bike, and sooner or later you will, you’ll be glad you invested in some high quality safety gear. Motorcycle gear can be expensive, and this is not an area where you will want to cut corners. For example, a good helmet will cost you anywhere from 200 to 800. High.abrasion leather jackets and gloves are equally expensive. If you are a first time rider, or are gearing up after a long absence from the road, you can expect to spend close to 1500 just getting yourself outfitted in suitable motorcycle gear.

Which Model is Right for You?

Experienced riders know that buying a motorcycle begins with choosing the model that is right for you and the type of riding you want to do. This is a particularly important point, especially if you are a novice rider. There are safety issues to consider, as well as the overall enjoyment factor. If you buy a motorcycle that you can’t handle, or that you simply don’t enjoy riding, you will have wasted a fair amount of money. While motorcycles are typically less expensive than cars or trucks, they are still a major investment. If you choose a model that doesn’t suit your needs or experience level, you can easily end up paying off a bike that is collecting dust in your garage or struggling to recoup your investment by selling it on the second hand market.

Before you think about purchasing any motorcycle, consider what kind of riding you will be doing. Are you looking for a sport bike to take on the back roads and rough trails, or are you looking for a motorcycle that will serve as your primary means of transportation? You should also consider how much experience you have handling a bike. Are you a beginner with limited experience riding a motorcycle, or are you an old hand at tackling the world on two wheels? These questions will lead you to the type of motorcycle that is best suited to your needs and experience level, and will help you avoid a purchase that you may ultimately regret.

There are six basic types of motorcycles to consider, and each delivers a different riding experience. A brief overview should help you narrow down your choices, however we advise thoroughly researching your choice before making any final purchase.

An all purpose introductory model. Typical examples include the Honda 599 and the Suzuki SV650. Standard models are relatively lightweight, and their overall design makes them easier to handle while giving the rider a reassuring sense of control. Standard model bikes are hard to beat for fuel efficiency, with some makes getting more than 60 MPG. Standard models are generally a good fit for riders with limited experience, though the heightened horsepower on some models can be intimidating for first timers. Purchased new, standard models can run anywhere from 7000 to 15,000, making them an attractive choice for novice motorbike enthusiasts.

Sport bikes are relatively lightweight, and are built for speed and easy handling. However, these are high performance bikes, and as such are not really a good fit for novice riders. They are also costly to maintain and insure. Popular models include the Kawasaki Ninja ZX-14R, the Honda CBR1000RR, and the BMW HP4. Sport bikes make up a large part of the motorcycle market, with ranging anywhere from 12,000 to 30,000, but they can be a questionable investment if you are a first time buyer or are not fully committed to the motorcycle lifestyle.

Dual sport models are built for both on and off road adventuring, and their versatility make them a good choice for first time riders. You can hit the trails on the weekend and ride to work on Monday. Dual sports are lightweight and easy to master and maintain. They are also relatively inexpensive to buy and insure, and most models are surprisingly fuel efficient. Dual sport bikes, particularly the Honda CRF250L and the Yamaha WR250R, are great choices for city travel and short term commuting and are a good fit for riders with limited to moderate experience.

The most recognizable example of a classic cruiser is the Harley-Davidson Softail. Cruisers are built for comfort, and typically deliver a relaxed ride that is well suited for longer hauls. Their low slung seats make it easier to get both feet on the ground, and their low center of gravity helps to offset the heavy weight of the bike (an important consideration for less muscular riders). However, the long low build of most cruisers can make maneuvering a challenge for less experienced riders. Cruisers are a good fit for city and highway travel, and while they’re not as fuel efficient as standard models most deliver upwards of 55 to 60 MPG.

Touring bikes are designed for long rides on the open road, and there is a distinct emphasis on comfort as well as power. They are heavier and more expensive than other bikes, and are not the best choice for novice riders. They are powerful machines that demand respect and a fair amount of experience to handle. Popular touring bikes include the Kawasaki Vulcan Voyager, the Victory Cross Country, and the classic Harley-Davidson Electra Glide. Touring motorcycles are not as fuel efficient as other models, and their high cost and advanced features make them more expensive to insure and maintain.

Scooters are an extremely practical and affordable alternative to the fully fledged motorbike. However, the skills needed to expertly handle a motorcycle are not the same as those that can be learned from owning and operating a scooter. If buying a motorcycle is your ultimate goal, a scooter may not be the best place to start as the skills you will learn do not necessarily translate to a proper motorcycle. That being said, scooters are great for urban travel, and are fairly easy to handle. They are extremely fuel efficient (with some models getting as much as 90 miles to the gallon) and are inexpensive to maintain and insure. However, they can be less stable at higher speeds and are unsuitable for busy highways and extended trips.

Choosing the right model is one of the most important decisions you will make when shopping for a bike. The wrong choice can lead to trouble down the line. As a general rule, novice riders should avoid bikes over 500 pounds and with a native horsepower of more than 70. For beginning riders, or those with limited experience, standard and dual sport bikes are probably your best bet. Experienced riders will have a better idea of what they can handle, and should have no trouble finding the bike of their dreams.

Buying New vs Used Bikes

Now that you have a better idea of the type you’re interested in, it’s time to think about whether or not you want to buy a new or used model. Each option has its own distinct advantages and disadvantages, and both should be considered carefully.

Advantages Disadvantages of Buying New

Advantages Disadvantages of Buying Used

The decision to buy a new or used motorcycle rests entirely with you, and each has definite advantages and disadvantages. That being said, if you are a novice rider it sometimes make’s better sense to buy a used motorcycle as a starter bike. Chances are you’re going to drop the bike a few times as you get used to riding, and the cost of damage to a second hand bike will be easier to absorb. over, if you find that the life of a motorcyclist is not for you, there’s a better chance of recouping a larger portion of your initial investment should you decide to sell the bike.

Financing Your Bike

The Difference Between Motorcycle Auto Loans

When it comes to motorcycle loans, it is important to understand how they differ from standard auto loans. While there are some similarities (the importance of credit scores, personal assets, make, model, age of the vehicle, etc), there are some key differences that can significantly impact interest rates, as well as determine whether or not you will be approved for financing. As a general rule, lenders are more hesitant to underwrite a motorcycle than a standard automobile, and this can be attributed to a few key factors.

Key Factors Impacting Motorcycle Loan Rates

• Risk – Regardless of your skill set, motorcycles are more dangerous to operate than cars or trucks. Lenders understand this, and view motorcycle loans as high risk investments due to the dangers posed to both rider and vehicle. They are well aware that motorcycle riders are at a greater risk of not repaying due to injury or death, and potential damage to the vehicle reduces the value of the bike as collateral. Consequently, motorcycles carry higher interest rates than traditional auto loans.
• Recreation – Whether you are buying a sport bike for trail riding or a cruiser to commute to and from work, lenders consider all motorcycles to be recreational vehicles. They are considered luxury items, and lenders assume that buyers can afford to pay a higher interest rate. Even if you are buying a motorcycle as your primary means of transportation, you can expect to receive a higher interest rate than if you were applying for more traditional auto financing.
• Rarity – Finally, it comes down to basic economics. Due to the heightened risk factors associated with riding a motorcycle, many banks and credit unions simply do not offer motorcycle loans. It becomes a matter of supply and demand, and with fewer lenders offering financing those that do can charge higher interest rates.

All of these factors contribute to higher interest rates. If you decide to finance the purchase of a new, or even a used, motorcycle, you should be prepared to pay a higher interest rate than you would for a car or truck.

Financing Options

There are a few basic options when it comes to financing a motorcycle. As with any loan, terms and interest rates will be largely determined by your credit history, personal assets, and the amount of your down payment.

• Dealer Financing – Most dealerships offer financing for qualified customers. However, interest rates may be higher through a dealership than through an alternative lender, and it’s always wise to investigate all of your options before agreeing to any loan. As with any financing, terms and interest rates will be set by the dealer according to your credit score, down payment, and the life of the loan.
• OEM (Original Equipment Manufacturers) Financing – Some manufacturers (Harley-Davidson, Yamaha, Suzuki, etc) offer direct financing on NEW models. Again, OEM financing may lead to higher interest rates, and approval will be largely dependent on your credit history and current financial status.
• Banks – Motorcycle loans may be rarer than traditional auto loans, but they are not impossible to find. While many local banks may be hesitant to underwrite a motorcycle, most national banks and some credit unions do offer financing opportunities for qualified buyers. Nationwide, SunTrust, and USAA are all prime examples of national banks offering competitive options for motorcycles and other recreational vehicles. For many buyers, this is perhaps the best option when looking to secure motorcycle financing.
• Online Lenders – There are a growing number of online lending companies that specialize in motorcycle and other recreational vehicle financing. There are also a growing number of lenders specializing in bad credit loans. However, as tempting as these lenders may be, you should be aware that interest rates from these lending companies tend to be disproportionately high, often twice that of more traditional lenders.
• Personal Loans – If your preferred bank or credit union does not offer loans specifically tailored for motorcycles, you may qualify for a personal loan if it can be supported by your current financial status and personal assets. That being said, a personal loan may require some form of collateral, and you should be careful what you are prepared to risk for the purchase of your motorcycle.
• Credit Cards – If you have a high enough line of credit on a credit card, you might consider purchasing your motorcycle with that credit card. This actually has some benefits, as you will avoid credit checks, loan applications, and any penalties for early repayment. However, you will be faced with steep interest rates, so tread carefully with this option.

Common Mistakes Buyers Make When Applying for Financing

Applying for financing requires careful consideration, and there are some pitfalls to avoid if you are going to find a plan that works for you. Unfortunately, in the excitement of shopping or a new bike, most buyers tend to make the same financing mistakes. Before you put pen to paper, and sign any agreement, consider the following common mistakes, and avoid them at all costs.

• Shopping for a Motorcycle Before You Shop for Your Loan – This is an all too common, and frankly understandable, mistake. However, you need to have some idea of how much money a lender is willing to advance you before you start shopping for a bike. There’s no point getting your heart set on a 25,000 Harley-Davidson Cruiser when you may only qualify for a 10,000 loan. Of course, the type of motorcycle you purchase will greatly influence the particulars of your loan (terms, interest rates, etc), but you should be able to get a fair idea of how much money you would be eligible to borrow before you start shopping for a bike. Make it a point to talk with a few different lenders before you start test driving new bikes.
• Borrowing Too Much – It is important to understand how much motorcycle you can afford before you start shopping for a loan. This is an all too common mistake, and it leads to buyers getting saddled with motorcycle loans that quickly become hardships. Figure out your budget early in the buying process, and remember to allow for the additional costs of owning and operating a motorcycle which we discussed earlier.
• Dealer Promotions – It’s easy to become overwhelmed when you’re shopping for a new bike at a dealership. Quite often the salesperson will try to close the deal by offering you special financing options. Tread carefully here, and investigate the loan agreement thoroughly. Many of these promotions offer tantalizing low introductory rates, but after 12 or 24 months the interest rates skyrocket. You mind find you are better off working with an independent lender.
• Comparison Shopping – This is one of the biggest mistakes motorcycle buyers make, and it can cost plenty in the final analysis. When shopping for a motorcycle loan, always compare and contrast offers from a number of different lenders. Ideally, you should contact at least 3 or 4 different lenders before deciding on the best deal. Compare different types of lenders as well, including credit unions, banks, and independent lending companies.
• Knowing Your Credit Score – Your credit history plays a large part in determining whether or not you qualify for a loan, and what the terms and conditions of that loan might be. Unfortunately, many buyers neglect to check their credit scores before applying for a loan, and this puts them in a weakened condition when it comes to negotiating terms. Before applying for any loan, check your credit scores with the three major reporting agencies (Equifax, Experian, and TransUnion) and request your free credit score. Check your scores to make sure that the information is accurate, and consistent, across all three reports. If there are any mistakes, you should take steps to rectify them before you apply to any lenders.
• Long Term Loans – While it’s tempting to choose a longer term loan in order to have a lower monthly payment, it can backfire when it comes to motorcycle financing. You will end up paying considerably more for the bike as interest rates mount up, and you will have less equity in the motorcycle should you decide to resell it. Remember, motorcycles depreciate in value relatively quickly, and it only takes a couple of years to find yourself paying on an upside down loan. An ideal motorcycle loan should have a life of 24 to 36 months, and definitely no more than 60 months.

Asking the Right Questions

When it comes time to apply for your loan, whether it’s through a bank, credit union, or other lender, it is critical that you full understand the agreement before you sign any contracts. Naturally, in the excitement of buying a new bike it’s easy to forget to ask some fairly important questions, and that can lead to debt that can quickly become unmanageable. Before you sign any agreement, be sure to ask the following questions:

• How long is the term? Remember, longer terms mean lower monthly payments, but can lead to an upside down loan.
• Is the interest rate fixed or variable? This is an important question, and the answer can have a significant affect on the shape of your loan. If your loan is variable and rates rise then the monthly payments may grow significantly.
• Does the loan follow the Rule of 78 or simple interest? Simple interest is always the better option. If your loan follows the Rule of 78, your initial monthly payments will only be applied to the interest on your loan, and it will be some time before you put a dent in the principle.
• Are there any penalties for early repayment?
• What are the penalties for late payments? These can include anything from penalty fees to an increase in interest rates.
• What kind of down payment is required to qualify for, or secure, the loan?
• Are you required to carry full coverage insurance on the motorcycle while the loan is active? As your new motorcycle will be used as collateral for the loan, the answer is almost always “yes”, particularly in the case of NEW motorcycles. However, when it comes to second hand bikes it’s generally left to the lender’s discretion.
• Are registration fees included in the loan?
• Are there any administrative fees associated with your application, and if so what are they?

These are all critical questions to ask when applying for a motorcycle loan, and they can help you avoid entering a loan agreement that you soon come to regret. Remember, before signing any contracts be certain that you fully understand the terms and conditions of your loan, as well as your specific responsibilities as a borrower. Do not hesitate to ask the loan officer to explain any part of the financing agreement that you do not fully understand, or that seems unnecessarily complicated.

Buying The Motorcycle of Your Dreams

Yes, the lure of the open road is hard to resist, but there’s more to buying a motorcycle than simply picking a cool looking model out of a trade magazine. Think about the kinds of riding you will be doing, and the type of motorcycle that fits your needs and your experience level. Carefully consider what you can afford, and how you will finance your purchase. Take the time to research a number of different lending paths, until you find the lender and the loan that works for you and your current financial situation. Once you find a loan that you are comfortable with you’ll be ready to finalize your purchase and start experiencing the magic that comes with seeing the world from the back of your new (or used) motorcycle.

Homeowners May Want to Refinance While Rates Are Low

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Ultimate Guide to Lawn Mower Financing

Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.

You’re proud of your yard and will do what it takes to keep it looking good. But what do you do when your trusty old lawn mower kicks the bucket, and you don’t have the cash to buy a new one? Is your only option to let weeds take over until you save enough to buy a mower?

Not necessarily. You may be able to get financing to purchase the mower you need (or even a fancy upgrade) without paying a lot in interest. Options for lawn mower financing include in-store financing, leasing, credit cards, and personal loans. Here’s what you need to know to get a new mower without having to come up with the full purchase price in cash.

Lawn Mower Financing Explained

Lawn mowers can be pricey. In fact, ride-on mowers can easily run well into the thousands. Fortunately, it’s often possible to get financing for a lawn mower purchase. This may be available directly from the seller. Or, you may be able to get a small personal loan to finance a lawn mower. Personal loans can typically be used for any purpose, including home improvement projects. And, they work like other types of loans: You borrow a lump sum of money, then pay it back (plus interest) in monthly installments over a fixed period, which could be a year or more. Personal loans for lawn mowers are available through many banks, credit unions, and online lenders.

Lawn Mower Financing Requirements

All types of lawn mower financing will come with qualification requirements. Lenders and creditors typically want to see a certain minimum credit score and monthly income. They will likely also consider your debt-to-income ratio (DTI). This is represented as a percentage and shows how much of your gross monthly income currently goes toward monthly debt. Lenders typically like to see a DTI of less than 36%. If you’re applying for a secured personal loan, you may also need to show proof of collateral (an asset) that you can use to secure the loan.

Lawn Mower Financing Options

So how can you finance your lawn mower purchase? Here are five options to consider.

Credit Cards

If you’re buying a mower that just costs a few hundred dollars, you might consider charging it to a credit card. Just keep in mind that credit cards typically come with high interest rates, which could make this a costly form of financing if you can’t pay off the balance quickly.

Some credit card issuers, however, offer introductory 0% annual percentage rate (APR) periods for new customers with good credit. These promotional periods can last 12 to 18 months, which might allow you to pay for the mower in full without paying any interest on your financing.

Leasing

This option for mower financing is more applicable to a riding lawn mower or tractor. Rather than buy the mower outright, you may be able to lease it for several years. The benefit is that your monthly payment may be lower than it would be if you financed it through a loan. What’s more, you won’t have to worry about maintenance, and, at the end of the lease period, you can turn the mower in and get a new one or buy it outright.

Tractor Loans

If you own a farm or other large plot of land and need a tractor, there are loans specifically for this purpose. Here’s an illustration of what you might pay each month if you were to get a loan with 3.24% APR for a tractor that costs 12,000.