They're going to first run your credit, then submit the application to one or more lenders. If you're financing, you should check with local and/or online banks to see what rate you'd qualify for if you get the loan yourself. That way you know the dealer is being fair with the rate.
Like an auto loan or mortgage, one way for the motorcycle dealership to make money is by marking up the rate. For example, if they get you approved for 7%, they could mark that rate up and charge you 9-10%(but there's no way for you to find out what rate you were approved at). Checking the financing sources on your own will keep that in check...get an approval, then tell the dealer "I got X rate, can you beat it?"
I used to sell used cars, and that's definitely the smart way to do it from a consumer's perspective.