Question for Trike Talk family about bank financing for customers

[Crossroads Trikes]

Question for Trike Talk family about bank financing for customers

We would like to provide bank financing for our customers. Have any of you out there in Trike Talk Land had experience with bank financing for trikes? We have been talking to several credit unions thinking they would offer the best rates, but there are some challenges getting them to lend on what to them is an unfamiliar vehicle. NADA doesn't help any in establishing value. The credit unions won't lend to an out-of-state customer unless they have a branch in that state. Any insight or experience that would help us find our way would be greatly appreciated.

 

[2006gold]

It's difficult because banks and credit unions generally have no idea what a 'trike' is, nor how much they cost. We had quite a time getting our first buy financed, but since I had been with my credit union so long and have a good credit score, they finally approved the loan. It took me going there, refusing 'no' for an answer, and essentially demanding they grant the loan on the Goldwing / Motor Trike conversion. The individual from whom I purchased the unit did the deal at the credit union and I took the loan officers out to see what they were financing which educated them some. Had no problem with the Can Am when we purchased that. Still, I think we can all agree that trikes make no economic sense - ya just gotta love the experience.

 

[Illini_Triker]

Had no trouble what ever financing my trike at our local bank, but we have been with them for over 25 years and never missed a payment.

 

[SMSgt]

I financed my at AFCU locally to both of us. There was no problems doing the financing they took the book value of the 06 Gold Wing and added the price of the conversion, from the trike order. They financed $27,500.00 for the bike and shipping.