Where Couldn’t You Go with a Motorcycle Loan?

In the 80s classic Top Gun, Tom Cruise set a new standard for cool jetting around Southern California on a lightning-fast bike.  Ever since I saw that movie, I have wanted to own a comparable machine myself, and I’m pretty sure I’m not alone in my desire.  Many, inspired by the same scenes, harbor similar hopes.  But whether or not you have seen the movie, the fact remains that motorcycles have always been, and will always be, cool.

Motorcycles represent the freedom of being able to go wherever you want, the independence of only relying on yourself to get there, and, of course, the speed and style with which they allow you to travel.  But just like most things worth having in life, a good bike isn’t cheap: a new Harley-Davidson, for example, can easily set you back 10 grand or more.

If you feel the freedom to cruise the open road shouldn’t be limited to those with a wad of cash in their back pocket, then a motorcycle loan might be a prospect well worth considering.  Just like buying a car or home on credit, a motorcycle loan can enable you to enjoy the benefits of something now that you might not be able to afford outright until much later.

Going into debt to finance anything in life is a scary concept for some people, especially if it means being financially beholden to a bank or other large financial institution.  Who knows how they might change the interest rate, what fine print you may have forgotten to read, or what shady lending practices you may fall victim to?  There is a new way to borrow money, however, that bypasses banks altogether.  It is called person-to-person lending, and it is starting to happen on a global scale.

The concept is that people with money to lend gather together and offer to invest in others.  Those seeking loans such as, say, that motorcycle loan we discussed, can submit a request for the amount they need, and what they need it for.  The individual lenders, not financial institutions, then agree to provide the necessary funds, even bidding each other down on the interest rate in the process.  So not only can that motorcycle loan become a reality, the interest owed can be cut down significantly in the process.

The leading source for this kind of hassle-free, simple-to-understand lending is an online group called Prosper.  They finance hundreds, even thousands of loans every day, controlled not by a board of trustees or a suit high up in a corner office, but by average, ordinary Americans living all around the country.  Their motivation to contribute is a chance at helping others and benefitting from it in the process.

Still concerned about borrowing for that motorcycle loan?  That’s fine.  Take your time, think it over, and listen to the hum of the local Harley-Davidson guys as they cruise past.  You’ll know when the time is right for you to finally make that long-held dream of yours become a reality.  When you’re ready, just remember that Prosper is waiting for you with a motorcycle loan that could forever change the way you take on the road, not to mention the world around you.