Obama's Financial Overhaul may affect your next motorcycle purchase

President Obama's financial overhaul may have an effect on the financial institutions of manufacturers like BMW and Harley-Davidson, manufacturers that provide buyers with loans directly from their institutions.

These companies own state-chartered industrial loan companies that benefit from federally insured deposits and lend money, but are not regulated as heavily as normal banks. The Obama administration's plan would force companies with ILC charters to register as bank-holding companies with the Federal Reserve.

Does this mean you won't be able to get that loan for the tire burning, corner cutting sport-bike you've been eyeing up? No, it may be more difficult for first time buyers to obtain a loan though. It does mean that you might have to go to a real bank to get your loan. The good part is you may not get charged the 20-something percentage rate that comes along with borrowing from some of these institutions.

And don't think these companies will back down without a fight. Even if regulation makes it more expensive, those firms that depend on providing such loans will presumably accept the stricter oversight that comes with owning a bank.

So, if you're under the age of 20 years old, you might not be able to go out and buy a brand new R1 or a BMW K1300S, but I'm sure there are tons of bikes that you can afford without signing your life away at the dealership for 25 percent interest.

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