I stopped by one of my local Motor sports shops the other day. As I drove past all the Street Bikes, Dirt Bikes, Quads and watercraft I wondered how sales of the items were doing. This is a good sized dealer with good solid brands like Yamaha,Sea Doo, Artic Cat and others. As I walked into the office of my friend Rich the manager I asked him how sales were holding up in these challenging times. Both he and his salesman looked at me and shook their heads no.
Rich said it has been frustrating. “we have good traffic people want to buy, but we are having a hard time finding them credit. It seems that many of the banks that lend on these types of products are holding out. They are afraid of lending even though they have the bike or boat to back the sale. It is a shame that the customer is showing more faith in our economic recovery than the lenders that may very well have caused the problems in the first place. I know I have heard the do not live beyond your means argument. Save up and then buy. Sounds like good advice too bad inflation has made it about impossible For us average Joes to get up much more than a good down payment. People only get one life they have the right to try to live as full a life as they can. These toys may not seem important to those who do not ride them but to many of us they are our escape from our every day lives. They give us a great deal of joy. They even have been known to bring families together. Modern times folks no turning back the clock to a time when you could get a sandwich and a beer for a nickle. We live in a cash flow society and the sooner the lenders and leaders of this world realize it and start making loans. The sooner we will see recovery. Remember Rich’s problem was not lack of customers it was lack of understanding from the banks. Maybe it is time to see some new lenders on the seen . Ones that are not afraid to take on some risk and help get our economy moving forward again.
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