Financing

Message

pacedawg · #1 Unread post by **pacedawg** » Fri Mar 09, 2007 3:57 pm

Just a quick question for everybody. . . would you finance an $18,000 bike if the deal was $199/month @ 9.9% for the life of the loan? Lets say you have no problem with the payments but don't have the cash right now to throw down a big down payment.

#2 Unread post by **Big B** » Fri Mar 09, 2007 4:25 pm

quick answer, if you can afford it, yes
i don't know that i'd finance a bike much past it's warranty expiration, for the simple reason that if it has serious issues after the warranty is out, and you still owe money on it, that can make life difficult. however, most bikes are quality made and you shouldn't have that many issues with a brand new bike. the interest rate seems a bit high, but not unreasonable.
what kind is it?

pacedawg · #3 Unread post by **pacedawg** » Fri Mar 09, 2007 4:39 pm

It is the new promo for the Victory Hammer. I am talking to the sales guy about a demo 06 model with 100 miles, upgraded headlight and arlen ness stage 1 exhaust. I know i will pay off the bike early because i always over pay my payments. I just don't think you can find a better deal than that but wanted to see if other riders out there finance this much.

#4 Unread post by **Wrider** » Fri Mar 09, 2007 7:18 pm

I dunno... 9.9% is fairly high... Might want to look at a bank's loan or something, I'm paying on a 6.25% loan right now to pay off my bike and my new Intrepid...
Wrider

Sev · #5 Unread post by **Sev** » Fri Mar 09, 2007 7:28 pm

I wouldn't finance a bike.

VermilionX · Fri Mar 09, 2007 7:56 pm

i would.

that's better than my interest rate and monthly. plus, my bike is cheaper too.

i would just say that be sure to get comprehensive insurance.

get GAP too if you don't put a huge down.

MotoF150 · #7 Unread post by **MotoF150** » Fri Mar 09, 2007 11:07 pm

Only finance a bike you can afford to pay off in 2 years or less, the reason being bikes are only designed to last for 2 years and after 2 years you'll get tired of riding the same bike and you will want a new one.

logitech104 · Sat Mar 10, 2007 1:05 am

MotoF150 wrote:Only finance a bike you can afford to pay off in 2 years or less, the reason being bikes are only designed to last for 2 years and after 2 years you'll get tired of riding the same bike and you will want a new one.

MotoF150 wrote:Mr IBJanky,, Sit down, I have to talk to you, spending over $10K is a lot of money for any bike. If ur rich and you have the money, spend it, but if ur not rich I would suggest to either keep the V Star or trade it up for maybe the V Star 1100 for maybe a $2000 to $3000 difference. The mistake many people make is they finance a new bike thats over $10K for 48 or 60 months, then they find out that bike doesn't last that long without some type of major repair thats needed. I mean its tough making a $400 a month payment on a bike then at the same time its broken down needing a $3000 engine repair. Now you know what im getting at? I would say never buy any bike that you can't afford to pay off in 1 year or less. No bike is made and designed to last for over 4 years or 20K miles. There is a $1000 rebate on the 07 Yamaha V Star 1100, but it expires the end of Feb 07, you can walk out the door with one for $6900.

http://totalmotorcycle.com/BBS/viewtopi ... c&start=15

MotoF150 · #9 Unread post by **MotoF150** » Sat Mar 10, 2007 1:08 am

ut oh! im busted!

MotoF150 · #10 Unread post by **MotoF150** » Sat Mar 10, 2007 1:22 am

Sorry, everybody I know that owns a bike gets bored and tired of owning the same bike for 2 years or more and they all dream and talk about buying a different bike. That was the main point I was making! Its tough when ur still making payments on something you don't love anymore, or if you want something that better. Why is the classified section in ur local newspaper filled up with used HD's for sale. Honest!! I know a local guy that has a used 96 HD 883 for sale, it has a custom paint job on the gas tank, pipes and chrome add ons and he wants $17,000 !!!!!! for it! Honest! thats $17 THOUSAND DOLLARS!!