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Old 03-08-2013, 12:01 AM   #21
brian1570
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Originally Posted by cyberone28 View Post
i was looking for either a yamaha r6 r1 or honda 600rr or 100rr

i can put a good down payment let me know
we've got plenty of 600/1000rr's and i have a very clean 2011 r6 raven.

and yes a good down payment will help. i'll pm you my info.
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Old 03-08-2013, 01:33 AM   #22
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what is considered a good downpayment? 2k?
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Old 03-08-2013, 06:18 AM   #23
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what is considered a good downpayment? 2k?
That would depend on your credit score and how much you're financing. I'd say 20% of sale price would be good
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Old 03-08-2013, 07:25 AM   #24
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Originally Posted by cyberone28 View Post
i heard credit unions are awesome actually i contacted 1 or 2 but they ask if i work for a goverment company or any related or if someone can refer me...

i wish i could get into a credit union...

if you or someone is a member please refer me to join i would be grateful.
I have USAA, but they only allow family members, no way I am marrying you or adopting you.
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Old 03-08-2013, 06:41 PM   #25
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That would depend on your credit score and how much you're financing. I'd say 20% of sale price would be good
in most cases people bring to the table a larger amount than the lender requires. it all depends on your debt to income ratio, based on this the lender will assign a percentage [of the units value] that they will fund. so if they fund you 90%, you will have to come up with 10% plus TT&L. tax is 6.25% for on road vehicles, 8.25% for off road. on a used bike there are generally about $150-200 of state, local and dealer fees associated with the sale.


btw bevo, had a costumer today come in and look at your old bike. he wants to stretch and lower it and deck it out with LED's

Last edited by brian1570; 03-08-2013 at 06:44 PM.
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Old 03-08-2013, 07:26 PM   #26
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The buy here pay here scheme is a double edge sword. I generally just work with local credit unions to get my customers financed. Motorcycles are tough and sportbikes are more so.

On one side, there are people with bad scores that really need a car or transportation. The only place they can get a loan is through the in-house financing scheme.

I've met many car dealers and the way in house works is the dealer will pay 3k for a bike. They'll then sell it at 6k with 2500 down at 20% interest. After a few months the bike is paid for. If the buyer is late on payment the dealer will repo that sucker fast. They will then turn around and sell that bike to someone else.

Right now there is lots of money to be made on in house financing for bikes. This is because the banking industry fell hard a few years ago and they quit lending as freely.

I see buyers everyday that get a bad case of the 'wants'. They will pay anything to get on a bike. Their only real concern is how much that monthly payment is. These customers are easily taken advantage of by the dealer that portrays themselves as their buddy.

Good luck with the bike purchase.
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Old 03-08-2013, 07:36 PM   #27
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Quote:
Originally Posted by xl_cheese View Post
The buy here pay here scheme is a double edge sword. I generally just work with local credit unions to get my customers financed. Motorcycles are tough and sportbikes are more so.

On one side, there are people with bad scores that really need a car or transportation. The only place they can get a loan is through the in-house financing scheme.

I've met many car dealers and the way in house works is the dealer will pay 3k for a bike. They'll then sell it at 6k with 2500 down at 20% interest. After a few months the bike is paid for. If the buyer is late on payment the dealer will repo that sucker fast. They will then turn around and sell that bike to someone else.

Right now there is lots of money to be made on in house financing for bikes. This is because the banking industry fell hard a few years ago and they quit lending as freely.

I see buyers everyday that get a bad case of the 'wants'. They will pay anything to get on a bike. Their only real concern is how much that monthly payment is. These customers are easily taken advantage of by the dealer that portrays themselves as their buddy.

Good luck with the bike purchase.
yup. this is exactly what we DON'T do. but good info for the unaware.
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Old 03-08-2013, 07:56 PM   #28
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Quote:
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yup. this is exactly what we DON'T do. but good info for the unaware.
Didn't mean to imply you were one of those shady saleman...
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Old 03-08-2013, 08:14 PM   #29
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Didn't mean to imply you were one of those shady saleman...
haha it's all good.
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Old 03-08-2013, 08:19 PM   #30
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btw bevo, had a costumer today come in and look at your old bike. he wants to stretch and lower it and deck it out with LED's
that, I'm going to come in tomorrow when you open and kick it over
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Old 03-08-2013, 10:32 PM   #31
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that, I'm going to come in tomorrow when you open and kick it over
yeah somebody beat you too that
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