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Old 02-10-2011, 10:24 AM   #1
SteveohhXdank
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finance......maybe....

Im just trying to get a idea on around how much payments will be on a new/slightly used bike from a dealer.
Lets say I put 1k down on a 09 600 how much will my payments be?
Will I need more downpayment or no and it will be under my name no co-sign nothing.
Please give me examples/ideas and dealerships that are better or worse on financing
Thanks
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Old 02-10-2011, 10:28 AM   #2
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I know they have deals around this time for like $100.00 payments for 1 or 2 years with dealer finance. Sounds good in the beginning but after those 1 or 2 years are up the interest rate jumps to the max and payments are 5 to 600.00. So the best way is to try to get financed through your bank and they can tell you what you expect to pay. It depends on your credit if you will need more down. I remember when I wanted to get my first bike I needed 1,500 down. You could be different.
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Old 02-10-2011, 10:30 AM   #3
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depends on your credit. Your credit sucks, better forget about financing.
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Old 02-10-2011, 10:31 AM   #4
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yeah I have like no credit so im assuming financing is out the windows?
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Old 02-10-2011, 10:33 AM   #5
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join a credit union. if they'll even finance you, you're gonna get raped.
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Old 02-10-2011, 10:34 AM   #6
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Probably. Also credit unions are the way to go. I got an insane rate on my car through HCFCU.
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Old 02-10-2011, 10:37 AM   #7
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Your monthly payment will depend on your downpayment, total cost of the bike after taxes, etc and what kind of interest rate you get depending on your credit. If you have none or credit, you could find a co-signer. But there's no real way to get a close estimate on payments until you have all that info and talk to your bank.
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Old 02-10-2011, 10:43 AM   #8
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some dealer websites have some kind of finance calculator. just put in high numbers for everything and see what the payments might be.
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Old 02-10-2011, 10:45 AM   #9
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Aren't you a new rider?

Dude don't do it to yourself. Keep in mind you have to maintain full coverage on a vehicle while you are financing it. Meaning you have to get full coverage on a sports bike. expensive. ON TOP of your bike payments.
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Old 02-10-2011, 10:51 AM   #10
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Quote:
Originally Posted by Mr.D View Post
Aren't you a new rider?
yup.. who can't afford MSF or gear and is now ready for a 600. To each their own.

Figure even with 2K down you are looking at 300 a month plus close to the same for full coverage...
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Old 02-10-2011, 10:55 AM   #11
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Quote:
Originally Posted by Mr.D View Post
Aren't you a new rider?

Dude don't do it to yourself. Keep in mind you have to maintain full coverage on a vehicle while you are financing it. Meaning you have to get full coverage on a sports bike. expensive. ON TOP of your bike payments.
not true

retail credit like HSBC doesn't require that you have anything more than liability, but you BETTER not have any problems or else you're stuck paying out for a totalled/stolen or whatever bike. Also HSBC is only worth it if you can afford large payments. For example I had about half of the total to put down on my most recent purchase, but instead I took the HSBC loan with the decent starting apr that jumps to 11ty billion % after two years. Well I make large payments to the point where it will be paid off by december, if you can do that, it's totally worth it, because you only really end up spending a couple of hundred dollars in interest, but if you can't pay it off in the first year or two before the rate jumps, NOT worth it.
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Old 02-10-2011, 10:56 AM   #12
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Figure 20.00 per 1000.00 borrowed
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Old 02-10-2011, 10:56 AM   #13
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Might as well save your loot bro.

Why go get a kick bike that you are going to squid on and wreck because you don't have the fundamentals to ride?

I'm not talking .
I'm speaking from experience.
Ask around.
Mr.d Was the head squidler of them all. I still pick off scabs from my motorcycle accident. That was back in May.
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Old 02-10-2011, 11:01 AM   #14
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this post was just for info purposes I dont plan on buying or financing anything anytime soon dont getcha panties wet just asking and FYI I'll have m endorsement when I have time to go to the dps.
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Old 02-10-2011, 11:04 AM   #15
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Quote:
Originally Posted by SteveohhXdank View Post
yeah I have like no credit so im assuming financing is out the windows?
No credit is better than bad credit, but that doesn't mean your in any better position as far as interest rate. Prepare for the worst and hope for the best on that.
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Aren't you a new rider?
NO, I'M NewRider Jeez....



Steve- Here is a link to a loan calculator. I put it for a 15% interest and assuming you're getting a $6000 bike with $1000 down payment. You can play with it and change the numbers up a bit.
Loan Calculator
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Old 02-10-2011, 11:04 AM   #16
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attachmentphp?attachmentid35166&ampd1274384806

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Old 02-10-2011, 11:06 AM   #17
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Quote:
Originally Posted by texlurch View Post
yup.. who can't afford MSF or gear and is now ready for a 600. To each their own.

Figure even with 2K down you are looking at 300 a month plus close to the same for full coverage...
I have gear did msf and have a 600 technically....and 600amo. isn't bad I have no expenses and financial aid helps from school along side my full time job is it really that low?
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Old 02-10-2011, 11:06 AM   #18
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I like the logic on this website "I'm stupid, so you must be stupid too" let the guy do what he wants.
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Old 02-10-2011, 11:07 AM   #19
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Quote:
Originally Posted by SteveohhXdank View Post
this post was just for info purposes I dont plan on buying or financing anything anytime soon dont getcha panties wet just asking and FYI I'll have m endorsement when I have time to go to the dps.
there's no need to run your mouth to the experienced members of this forum. Most of these guys are telling you how it is because they've been there. The best lessons are the hardest learned. Is this a lesson you want to learn for yourself or would you rather learn the lessons of others? This sport can break you financially and physically, neither of those are good!!!
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Old 02-10-2011, 11:07 AM   #20
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Quote:
Originally Posted by NewRider View Post
No credit is better than bad credit, but that doesn't mean your in any better position as far as interest rate. Prepare for the worst and hope for the best on that.


NO, I'M NewRider Jeez....



Steve- Here is a link to a loan calculator. I put it for a 15% interest and assuming you're getting a $6000 bike with $1000 down payment. You can play with it and change the numbers up a bit.
Loan Calculator
thank you "newrider" lol I'll check that out I need to open a bank account any suggestions?

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