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Old 09-25-2005, 01:13 AM   #1
Andy
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Best Loans for a used bike?

Man, I have been saving up for a used bike for awhile now, but my just spends it on other things. So what I want to do is get a loan for a used bike, where do you guys recommend getting a loan from? Any particular banks credit unions etc?

I am looking to get about 4000, 4500 at the most, I have the rest to buy everything else

Thanks in advance
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Old 09-25-2005, 12:54 PM   #2
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Re: Best Loans for a used bike?

go to a bank and get one. not that many people get bank loans cuz they usually have the cash. its very expensive to own a bike and going into debt isnt a good way to start riding.

you can get financed from kawasaki, yamaha, suzuki, etc. for about 3 yrs and at 3.9-59% interest rate. thats only for new bikes which and thats almost always above $5k OTD for a smaller bike and not a SS.

save up more and BUY YOUR GEAR FIRST!!!
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Old 09-26-2005, 03:49 AM   #3
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Re: Best Loans for a used bike?

thanks for the info, do you recommend any websites or places to order gear off of for a great price?
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Old 09-26-2005, 10:28 AM   #4
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Re: Best Loans for a used bike?

i got my bike finaced through HSBC. Got my bike from Northcity cycles.
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Old 09-26-2005, 10:53 AM   #5
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Re: Best Loans for a used bike?

Quote:
Originally Posted by Andy
thanks for the info, do you recommend any websites or places to order gear off of for a great price?
www.newenough.com. for some prices you have to request it and they send you prices too low to advertise.

im not saying you cant get a loan but banks are usually harder to get loans from especially for a bike. most manufacturer will just give you up to $6k if you finance the bike through their credit union. either way you will be going into debt unless you have about $5k for a down paymnet and gear.
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Old 09-26-2005, 11:05 AM   #6
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Re: Best Loans for a used bike?

word.


i had downpayemnt, gear money and even money for chrome. word out.
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Old 09-26-2005, 12:22 PM   #7
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Re: Best Loans for a used bike?

first bike, buy small cc (500 or less) buy USED, buy CASH........
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Old 09-26-2005, 02:57 PM   #8
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Re: Best Loans for a used bike?

I have about 3000 right now, and I heard that the best season to buy a bike was winter because people start selling their bikes for cheaper.
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Old 09-26-2005, 03:14 PM   #9
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Re: Best Loans for a used bike?

Quote:
Originally Posted by Andy
I have about 3000 right now, and I heard that the best season to buy a bike was winter because people start selling their bikes for cheaper.
you heard wrong. riding season is all year around so there isnt a down time for sales. in fact during the winter there is a shortage of bikes for sale, at least SS bikes. best time to buy is around summer cuz there is alot of people trying to upgrade to a newer model since all there friends have new ones. you can negotiate but you have to know what your talking about as far as loans/finance and motorcycles. it is very easy to see who is a n00b when chatting about bikes.

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Old 09-26-2005, 03:29 PM   #10
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Re: Best Loans for a used bike?

yeah, I am a noob..:( i was just stating what I heard.
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Old 09-26-2005, 03:49 PM   #11
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Re: Best Loans for a used bike?

Quote:
Originally Posted by Andy
yeah, I am a noob..:( i was just stating what I heard.
i didnt mean you were a n00b but the salesman would of ripped you a new and made you stick your finger in his. now you know to buy used with cash but after you get your gear right:
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Old 09-26-2005, 04:06 PM   #12
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Re: Best Loans for a used bike?


yeah, buying a new bike is just pointless, im sure im going to drop that bad boy right off the bat lol
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Old 09-27-2005, 04:14 PM   #13
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Re: Best Loans for a used bike?

Go to the bank and request alone for a wedding ring. right:
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Old 09-29-2005, 10:02 AM   #14
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Also check for the lowest APR you can get, but that's based on your credit history, another thing is try to be a member of a Credit Union, in a lot of cases the APR's are better than the ones offered by Banks.

Good luck.
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Old 10-03-2005, 04:02 AM   #15
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i say save up a little more, shoot you have 3000 already and ur looking to buy a used bike, try to save another 2 grand for 5 grand total and pay straight cash, what i did, the seller wanted 6000 for the bike i bought, and i went up there, first time i saw it, i got it inspected, and showed her 5200 straight cash and said ill take it right now and flossed the cash, money talks, financing is cool too but interest and knowing your in debt can kick u in the =/ ... just my opinion! ur money, ur happiness, best of luck brother!
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Old 10-03-2005, 11:43 AM   #16
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As you know andy I always get a loan for about 2k on each bike. That helps me build my credit, the payments are small and I get it paid off in a little more than a year.

There are benefits to getting a small loan, just make sure you payments wont hurt you at all. Bikes are sticky situations and wrecking one can set you back hard, esp. if you are having to make a large payment on a bike you dont own.
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