FAQ
FREQUENTLY asked questions (faq)
Q.
Do I own the bike?
A.
No this is a 36-month lease. Horsepower retains ownership and the title to the bike. You will only own the bike if you purchase it at the end of the lease or exercise an early purchase option.
Q.
Will I own the bike after my last Lease payment?
A.
No, Horsepower retains title and ownership of the bike unless you exercise your purchase option at the end of the lease.
Q.
Can I just return the bike at any time?
A.
While you may return the bike to Horsepower, you are still obligated for the full payments on the lease. If you have an unforeseen life event, contact us. We will attempt to work with you to find a solution.
Q.
What are my options at the end of the lease?
A.
1. You can return the bike to your dealer or Horsepower.
2. You can purchase the bike for the amount listed in your lease. No guessing how much it
will be.
3. You can trade the bike for a different bike at a Horsepower Select Dealer.
4. You can renew your ride if you would like to lease the bike again, most often at a
reduced payment.
Q.
What are my payment options?
A.
Debit Card or Credit Card (Pre-paid debit cards are not accepted).
Q.
Can I pay biweekly?
A.
This is a monthly lease. If it makes it easier for you to pay weekly or bi-weekly, we can do that as long as it is paid before the Monthly due date. You will need to call 888-710-2061 and tell us you wish to pay with a different frequency. The dealer can not make that change.
Q.
Can I pay extra to lower the purchase option price at the end of my lease?
A.
No. You are not obligated to purchase the bike at the end of the lease.
Q.
Does Horsepower report to my credit?
A.
Yes, Horsepower reports all transactions to Experian.
Q.
Does Horsepower require a down payment?
A.
Yes, Horsepower requires 10, 15 or 20 % Capital Cost Reduction (CCR) (you may hear the phrase down payment, but on the lease, you will see Capital Cost Reduction).
Q.
What is included in the amount due at signing?
A.
The amount due at signing consist of the capital cost reduction, first month’s lease payment and taxes on the Capital Cost Reduction (if applicable in your state) , and any required fees or other taxes.
Q.
Does HP take care of the maintenance on my bike?
A.
No. Required maintenance is the Lessee’s (You) responsibility. Many dealers offer maintenance and extended service plans.
Q.
Will I get a payment book?
A.
No. Horsepower will automatically deduct your payment each month.
Q.
Who do I call if I have any questions about my lease with Horsepower?
A.
Contact customer service at 888-710-2061 . We want you to know and understand your lease terms and conditions.
Q.
Is there a limit to the number of miles that I can ride during the lease?
A.
No. Ride as far as you want as much as you want. We ride and hope that you do too!
At Horsepower, we thank you for your business. We are excited to help you to Ride, and
ride as much as you want.
We truly want a seamless, easy experience for you.
James Manatee
James Manatee; Rider Advocate