FAQ
FREQUENTLY ASKED QUESTIONS (FAQS)
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Q.
WHO OWNS THE BIKE?
A.
HorsePower retains ownership and title of the bike. We extend a 36-month lease, and you can own the bike if you purchase it at the end of the lease period or opt for an early purchase.
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Q.
DO I BECOME THE BIKE OWNER AFTER MY LAST LEASE PAYMENT?
A.
No, you don’t become the owner with your last lease payment. We will retain the ownership and title unless you purchase the bike at the end of the lease.
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Q.
CAN I RETURN THE BIKE AT ANY TIME?
A.
You can return the bike to us at any time. However, you will remain obligated to make your lease payments. In case of unforeseen circumstances, you may contact us, and we will try to find a solution that works for all the parties involved
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Q.
WHAT OPTIONS DO I HAVE AT THE END OF THE LEASE PERIOD?
A.
1. You can return the bike to your dealer or Horsepower Financial.
2. You can purchase the bike for the amount mentioned in your lease agreement.
3. You can trade your bike for another model at a Horsepower Financial Select Dealer.
4. You can renew your lease, most likely at a reduced payment.
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Q.
WHAT PAYMENT OPTIONS DO I HAVE?
A.
You can make payments with a debit or credit card (we do not accept pre-paid debit cards)
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Q.
CAN I MAKE BIWEEKLY PAYMENTS?
A.
While this is a monthly lease, you can make weekly or bi-weekly payments as long as they are paid before the monthly due date. In that case, make a call to 1-888-220-1901 to choose your payment frequency, as dealers cannot make this change.
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Q.
CAN I MAKE EXTRA PAYMENTS TO LOWER THE PURCHASE PRICE AT THE END OF MY LEASE?
A.
No. You are not under any obligation to purchase the bike at the end of the lease period.
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Q.
DOES Horsepower Financial REPORT MY CREDIT?
A.
Yes, we report all transactions to Experian and Transunion.
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Q.
Do I need to make a downpayment?
A.
Yes, you are required to pay 10%-20% capital cost reduction.
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Q.
WHAT CONSTITUTES THE AMOUNT AT THE TIME OF SIGNING?
A.
The amount at the time of signing includes the capital cost reduction, lease payment for the first month, taxes on the capital cost reduction (if applicable in your state), and any other necessary taxes or fees
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Q.
IS Horsepower Financial RESPONSIBLE FOR MY BIKE MAINTENANCE?
A.
No, the required bike maintenance is the responsibility of the Lessee. However, dealers may offer maintenance and extended service plans.
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Q.
WILL I RECEIVE A PAYMENT BOOK?
A.
No, we will deduct the payment automatically each month.
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Q.
WHAT SHOULD I DO IN CASE OF QUESTIONS ABOUT MY LEASE?
A.
ou can call our customer service at 1-888-220-1901, and we’ll help you with your queries and concerns in the best way possible.
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Q.
IS THERE A LIMIT ON THE MILES I CAN RIDE DURING MY LEASE DURATION?
A.
No, you can ride as much as you want and as far as you want.
At Horsepower Financial, we are truly grateful for your business. We are overjoyed to help you ride and hope to make the experience as seamless as possible
* The Lifestyle Lease® is available in the United States and its territories EXCEPT in California and Connecticut. *