Credit card motorcycle financing; is it better to pay cash

Using Credit cards for motorcycle financing can provide some great benefits to new or used motorcycle buyers looking to pay cash for their motorcycle.

With the interest levels on credit cards as low as they are at the moment,if you are considering buying a new or used motorcycle for cash you should highly consider using your credit card. Paying cash can backfire in you, because it potentially leaves you more exposed. For instance, if you need to dispute an issue related to your motorcycle it is much easier to do on your credit card than with cash. Imangine having the muscle of VIAS or MASTECARD behind you if there is a problemwith your motocycle purchase!

Here are the main benefits of using a credit card to purchase your motorcycle..

  • Its not your money 
    • you are effectively buying the motorcycle with the credit card company's money. This gives you 30 days free interest immediately
  • consumer protection
    • By using your credit card, you will get a measure of protection for any unforseen circumstances. Your credit card company shold help you out with any disputes or problems that arise  
  • 12 month free interest
    • The competition for you business on credit cards is so fierce at the moment that you will probably be able to get 12 months free interest on your purchase. On a $15,000 motorcycle at 4% this is serious money!
  • Credit card reward schemes
    • Another great thing about using your credit card for motorcycle financing is that if you have a rewards card that gives cash back or frequent flyer miles you get a huge benefit for buying your motorcycle. So buying your motorcycle on your credit card could give you a low cost holiday! .

You may also look for credit cards that have low interest rates. Some credit cards have interest rates as low as 4% - 6%, which can be a great alternative for motorcycle finance, even if you don't pay off the balance immediately.

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Copyright Motorcycle parts accessories and more, Michael Holmes 2004