Dealer Finance v Bank Loan

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stefg

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Hi All,

I'm considering buying a new motorbike and I'm considering how to pay for it.

Is there any advantages to taking a dealer finance option over getting a loan from my bank? There seems to be a greater range of options with the dealer but do dealer packages generally cost more? Would taking the dealer package give a better negotiating situation regarding the price of the bike?

I'm not sure if it relevant but the loan I'd be taking would only be for 1 year.

Any suggestions and advice would be appreciated.

Cheers,
Stef
 
Compare and ascertain the relative values. Price is critical. Play one off against the other.
 
The main difference here is likely to be more for the dealer than you as they will be getting commission on the deal. If both finance offers were the same or very close I'd be inclined to see what sweetners the dealer will offer (lower base price, extras etc) if you go with them
 
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