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Old 03-16-2011, 06:28 PM   #1
dead2sin
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First bike, got some questions

Im loookingto get my first bike. I'm pretty much set on the ninja 250r. Everything I've read says that it is perfect for first timers. I have a few questions. How long do people usually finance a loan for a bike? Will the dealership sell the bike to someone that doesn't have the motorcycle endorsement on thier license?
I do plan on taking a class and getting the endorsement...

Also, I will probably buy used, will bike shops usually finance used bikes?

Thanks for your help!
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Old 03-16-2011, 06:31 PM   #2
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I would say take the class first before you buy the bike.
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Old 03-16-2011, 06:33 PM   #3
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Buy used and pay with cash. It's not wise to borrow money just to buy toys. Just my .02. The Ninja 250 is a good starter bike. So are SV650s and there are tons of used ones for really cheap. Ninja 250s seem to hold there value so used ones aren't as good of a deal as the Suzuki SV650.
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Old 03-16-2011, 06:34 PM   #4
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Yes the dealership will sell you a bike without you having a motorcycle endorsement.

ninja 250r is a great starter bike.

You can finance a used bike but try to pay cash or put a good chunk of a down payment if you can.
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Old 03-16-2011, 06:39 PM   #5
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Keep in mind that if you finance you will likely be required to carry FC insurance. It will probably be more than the bike depending on age and record.
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Old 03-16-2011, 06:41 PM   #6
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I wasn't planning on paying cash but I don't mind dropping a big downpayment. Any particular shop in town that would have a better selection of used 250s?
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Old 03-16-2011, 06:57 PM   #7
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If you going to fiance a bike I want do a 250 I'll just get a zx6r good bike you not going to keep that 250 long anyways thats just me
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Old 03-16-2011, 07:04 PM   #8
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someone on the board is selling a Hyosung 250 for $2500

Practically new only 165miles.

If i were you I would get in touch with them, check the for sale section...

Caligonetx has a hyosung 250 and seems to work good for him
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Old 03-16-2011, 07:28 PM   #9
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Quote:
Originally Posted by brandontx View Post
Buy used and pay with cash. It's not wise to borrow money just to buy toys. Just my .02. The Ninja 250 is a good starter bike. So are SV650s and there are tons of used ones for really cheap. Ninja 250s seem to hold there value so used ones aren't as good of a deal as the Suzuki SV650.


I would have gotten a ninja 250 a while back but I found a much better deal on the GS500F I had and not to mention I saved some money buying used compare to new
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Old 03-16-2011, 08:11 PM   #10
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Quote:
Originally Posted by dead2sin View Post
How long do people usually finance a loan for a bike?
Unless it's your only mode of transportation, it's not a good idea to finance a bike.
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Old 03-16-2011, 08:27 PM   #11
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Please see my answer below:

Quote:
Originally Posted by dead2sin View Post
Im loookingto get my first bike. Congrats and welcome to your new addiction.
  • I'm pretty much set on the ninja 250r. Everything I've read says that it is perfect for first timers. Good Starter bike. Depending on your motor skills an sv650 is also a great alternative..
  • I have a few questions.
  • How long do people usually finance a loan for a bike?1-3 years and sometimes up to 5 but I wouldn't finance a toy especially for that long. Also, these loans are difficult to obtain, normally carry a high interest rate, and typically require you to maintain full coverage. Full coverage can cost as much as the price of the bike per year.
  • Will the dealership sell the bike to someone that doesn't have the motorcycle endorsement on thier license?Unfortunately, yes they will. As mentioned you should take the course before buying
  • I do plan on taking a class and getting the endorsement...
  • Also, I will probably buy used, will bike shops usually finance used bikes?Yes but do you really want to finance something that's only worth 1500 from the insurance company's point of view?
Thanks for your help!
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Old 03-16-2011, 08:34 PM   #12
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Suzuki (hsbc) did not require full coverage on the bike when I financed it. I was told that they're the only major lender (manufacturer) that doesnt.

Nothing wrong with financing a bike, in my opinion. Yeah, it might be "just a toy" but lots of people don't have $13 grand laying around to pay for a bike upfront and likely wouldn't ever get a bike if they had to pay the whole price right away.

Plus, if you have the means to make payments on time then that's a great way to build credit. If you never use credit then you'll never build it up. Unless you plan on paying for EVERYTHING in cash throughout your life then you need to start somewhere in the credit game.

That said, I you're buying a bike for less than $5k you might as well save up the cash and just buy it.
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Old 03-16-2011, 09:05 PM   #13
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Thanks for all the quick replies! I am definitely gonna take a class before inter the bike, maybe within a month. I dont know how soon I will get the bike, but I am now thinking of saving up some more to buy cash, It is a toy and not my only means of transportation. My toy budget is less than 3-4000 cash so that is why I wanted to finance. Tomorrow I plan on getting some insurance quotes, I did get an online quote from progressive and it was extremely cheap, however I don't remember if it was full coverage I'll have to go back and check it out.
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Old 03-16-2011, 09:08 PM   #14
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Quote:
Originally Posted by dead2sin View Post
Thanks for all the quick replies! I am definitely gonna take a class before inter the bike, maybe within a month. I dont know how soon I will get the bike, but I am now thinking of saving up some more to buy cash, It is a toy and not my only means of transportation. My toy budget is less than 3-4000 cash so that is why I wanted to finance. Tomorrow I plan on getting some insurance quotes, I did get an online quote from progressive and it was extremely cheap, however I don't remember if it was full coverage I'll have to go back and check it out.
3-4k is plenty for the bikes you are looking at. Remember, this is your first bike not your last one.

Get on craigslist and pick one up. i'm sure a member will go with you and lok at the bike, or better yet have the seller meet you at motorcycles unlimited so that they can go through it for you.

DO NOT SPEND more than your cash budget on your first bike man.
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Old 03-16-2011, 09:24 PM   #15
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If you want the dealership experience, cash in hand is a great bargaining tool.

Also, the ninja is a great bike to start on. Even if you grow out of it in a year, it is still plenty of motorcycle for a new rider. It is very forgiving of mistakes and minor repairs are cheap and easy. Plus, riding 80's tech for a year will make anything but a harley feel modern afterward.
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Old 03-16-2011, 10:14 PM   #16
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No clue what a 250 R goes for used but there is a 06 at Wild West Honda for 2,699
With cash I am sure they will deal.

I am kind of thinking bikes will go up this summer with the price of gas on the rise and Japan production may be down for a while.
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Old 03-21-2011, 09:43 AM   #17
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Quote:
Originally Posted by brandontx View Post
Buy used and pay with cash. It's not wise to borrow money just to buy toys. Just my .02. The Ninja 250 is a good starter bike. So are SV650s and there are tons of used ones for really cheap. Ninja 250s seem to hold there value so used ones aren't as good of a deal as the Suzuki SV650.
You could look at the 250 holding value as a negative or a positive. I bought an 08 250r in December 08 for $3000 then sold it on Craigslist in late May for $3300. Almost completely paid for a fresh set of rubber and title transfer on the SV I got after it. Basically what I'm getting at is you can almost always get out what you put in on the 250's.


Quote:
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Please see my answer below:
Truth ^


I would recommended scanning the classifieds daily on here, I have also had good luck with Craigslist believe it or not ..
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Old 03-21-2011, 09:53 AM   #18
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Not sure if you are set on the new body style 250's? I know I was lol

new style $2,600:
http://www.motohouston.com/forums/sh...d.php?t=173608

old style $2,200:
http://www.motohouston.com/forums/sh...d.php?t=176088

This way no payment, and you can decide what kind of riding you really like before jumping off into a several year note.

Oya and come out to the track when you get whatever you end up with
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Old 03-21-2011, 11:39 PM   #19
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Don't forget to budget for some gear.
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Old 03-22-2011, 07:23 AM   #20
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Quote:
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No clue what a 250 R goes for used but there is a 06 at Wild West Honda for 2,699
With cash I am sure they will deal.

I am kind of thinking bikes will go up this summer with the price of gas on the rise and Japan production may be down for a while.
^^^I am hoping this happens. I have an '09 Yamaha FZ6 w/400 miles on it that I would like to sell. I bought it and bought my CBR1k like 6 weeks later like a dummy.

When I bought my first bike in the summer of '08 when gas hit $4, every dealership I walked in was selling for sticker prices and couldn't keep used bikes on hand because they were cheaper and moved even faster off of their floors. The demand could yield me an extra grand (fingers crossed).
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