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Old 03-23-2007, 10:37 PM   #1
ridinhuh?
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Finance Bike

I was going to finance an zx-6r '04 for 6500. When the the guy came back with the numbers.. he said that my interest rate is 15.75%.. that kinda caught me off guard, cause cars aren't even that high for me. I was just wondering if this is actually a good rate for an used bike??. I may try to get a personal loan instead now and see if my interest rate would be lower that way.
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Old 03-23-2007, 10:59 PM   #2
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a motorcycle isnt a nessecity(sp) like a car is, so in order to have a badass interest rate you will need an outstanding credit score....thats what ive heard, dont hold me to it though, i dont know if its completely true or not.
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Old 03-23-2007, 10:59 PM   #3
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Some creditors, if not all, consider bikes recreational vehicles, maybe thas why. Also your credit score might be a factor.
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Old 03-23-2007, 11:04 PM   #4
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well, what's your credit score?
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Old 03-23-2007, 11:06 PM   #5
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my first bike was 21% refinace after 6 months it will drop to 8%or so
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Old 03-23-2007, 11:09 PM   #6
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first bike, buy used, buy CASH, buy small CC

take the MSF before you do anything bike.
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Old 03-23-2007, 11:13 PM   #7
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Quote:
Originally Posted by RACER X
first bike, buy used, buy CASH, buy small CC

take the MSF before you do anything bike.
good call
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Old 03-23-2007, 11:13 PM   #8
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Used bikes = credit card rates. Thats pretty much what it amounts to when you finance used. Miss one payment and your rate jumps up like 5 points and stays there.

Thats how it is with my R6 anyhow.

Britt
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Old 03-23-2007, 11:14 PM   #9
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Quote:
Originally Posted by RACER X
first bike, buy used, buy CASH, buy small CC

take the MSF before you do anything bike.

+1
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Old 03-23-2007, 11:37 PM   #10
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Apply for an unsecured loan... if you bank there(have a checking & savings account), and opt for automatic monthly payment, your interest rate should be 6% or 7%
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Old 03-23-2007, 11:42 PM   #11
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got mine brand new with 6% interest. my credit sucks.











































but my wifes credit is reeeeeeeeeeeeeeeeeeeeeeally good. ha!
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Old 03-23-2007, 11:49 PM   #12
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go to a credit union and try them... i got a loan for 5% for the bike, 2.9% on my car.....but i have decent credit score...
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Old 03-24-2007, 12:29 AM   #13
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Quote:
Originally Posted by RACER X
first bike, buy used, buy CASH, buy small CC

take the MSF before you do anything bike.
+2

first bike will always get dropped, scratched, wrecked, stolen, until you really now how to care for a bike. plus accidents are unpredictable. dont be the duschbag with what started out as a nice bike, but because he is a bag of dusch he totally ragged the thing out in 3 months....
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Old 03-24-2007, 01:21 AM   #14
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Quote:
Originally Posted by Metzzen1
+2

first bike will always get dropped, scratched, wrecked, stolen, until you really now how to care for a bike. plus accidents are unpredictable. dont be the duschbag with what started out as a nice bike, but because he is a bag of dusch he totally ragged the thing out in 3 months....
+ eleventy billion!
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Old 03-24-2007, 07:28 AM   #15
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6500 is high for a 04 zx6r even in immaculate condition its too high.
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Old 03-24-2007, 08:38 AM   #16
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Quote:
Originally Posted by FireMalt
Apply for an unsecured loan... if you bank there(have a checking & savings account), and opt for automatic monthly payment, your interest rate should be 6% or 7%
+1
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Old 03-24-2007, 09:43 AM   #17
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someting like this may be a better idea http://houston.craigslist.org/mcy/299567582.html
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Old 03-24-2007, 09:59 AM   #18
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Or something like this http://houston.craigslist.org/mcy/298513448.html
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Old 03-24-2007, 10:24 AM   #19
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or http://cgi.ebay.com/ebaymotors/Trium...QQcmdZViewItem

I had a TT600 as a first bike. Actually same year, color and etc.. as the bike above. Great bike! Very little power down low(under 10,500) yet enough to get you around at "pace" once your more comfortable with it. The weight is centered down low making it feel very nimble and easy to ride. Very stable and forgiving in the turns. You can drop it and its solid(BTW you will drop your bike. Period. Be it moving it in your driveway or something else as stupid etc...)

Should be a able to pick up a good example //2400-3200

I wish I still had mine bruises and all.

That GS is pretty tight 2
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