Talked to a North Carolina dealer today who says that compared to last year, the percentage of bikes being financed at his store has gone from seventy-something to twenty-something. This echoes what dealers told me during a month-long investigation. Check out the resultant story to see how dealers are coping with tighter standards and fewer lenders. Used-bike financing is especially scarce, and dealers report stockpiles (meaning values will probably drop). Many dealers are shifting away from revolving credit and toward installment loans. A shift toward more sensible loans may be one of the few benefits of the current situation.
I also wrote a story on the joys and sorrows of working with credit unions. Industry consultants give suggestions on how to approach the unions.