After I ordered my Spyder, I started hearing rumors of financing difficulty...and this was before the "crisis" started. The background issue is-- most of these finance/insurance, etc companies are now software driven. In otherwords, the correct software updates must be in place so that the people can select the correct buttons. Can Am Spyders had not be placed in the choices for the company software...so how could you get a loan for something that did not exist??? One insurance company told us that their insurance would only cover off-road use of the Spyder because their software listed it as an off-road product (Spyder vs Quad?). They couldn't accept that the Spyder was not an off-road product because they would only follow the guidelines set up by the computer, no matter if it was wrong.
Okay, now think back to older 3-wheelers. Most were garage conversions, VW engines, homemade frames, unstable, unsafe, not the best financial investment. Move forward a few years, remember the Honda/Yamaha, etc ATC phase? Remember the emergency room Doctors sending out video tapes of some of the horrible accidents (BTW: we had 2-Honda 185S and we still have our 1982 Honda ATC 70- it's a blast) children had on the 3 wheelers? Remember how the pulled the 3 wheelers off the market?
Most finance companies have not updated their software to meet today's 3 wheel availability. Honda, Goldwing, Harley (patented a 3-wheeler in 2006, looks like a Spyder) are all building better trikes. But it will take the finance world years before they catch up with the market and update their software. The finance companies are concerned that this will be another ATC, pulled off the market suddenly and have no value. I love my Spyder and have ridden over 4,000 miles in less than 3 months.
