Financing a used bike sale?

[aireq]

So I just graduated from college, got a good paying engineering job, and passed the MSF. I want to buy a bike now while it is sunny (I live in seattle), but I wont get my first paycheck until the 15th of July, and even then it will only be for a week. So i wont get a full paycheck until the 29th of July.

I'm looking to spend around $1500 on a bike, maybe more or less depending on what I find. So I want to buy a used one. Is there some way to you can finance a used bike sold by the owner? Is there some way I can get a short term loan from a bank or other institution for around $2000?


Eric

[iwannadie]

So I just graduated from college, got a good paying engineering job, and passed the MSF. I want to buy a bike now while it is sunny (I live in seattle), but I wont get my first paycheck until the 15th of July, and even then it will only be for a week. So i wont get a full paycheck until the 29th of July.

I'm looking to spend around $1500 on a bike, maybe more or less depending on what I find. So I want to buy a used one. Is there some way to you can finance a used bike sold by the owner? Is there some way I can get a short term loan from a bank or other institution for around $2000?


Eric

if you have good credit go to your bank and ask for a personal loan. a loan for a motorcycle might be harder to get or it might help you(because they have collateral). but i would go for a personal loan first. or a credit card with cash advance. dont claim to have a lean on the bike say its paid for when you go to get insurance.

[nick9871]

Hey what school did you graduate from? i am a Junior Computer Engineer at Seattle University. Although i didnt go for the deal, the dealer approved me for any of their low financing deals on a new bike. The only place that does motorcycle loans for used bikes *as old as 2002, for less then like 7 grand is watermark credit union. Awesome bank, my girlfriend has her car loan through them. Check them out www.watermarkcu.org You can apply for the loan on line and they will call you if further details are needed. I applied for personal loans and they wanted like 14.5% apr. So I ended up just saving the cash.

[aireq]

Hey what school did you graduate from? i am a Junior Computer Engineer at Seattle University. Although i didnt go for the deal, the dealer approved me for any of their low financing deals on a new bike. The only place that does motorcycle loans for used bikes *as old as 2002, for less then like 7 grand is watermark credit union. Awesome bank, my girlfriend has her car loan through them. Check them out www.watermarkcu.org You can apply for the loan on line and they will call you if further details are needed. I applied for personal loans and they wanted like 14.5% apr. So I ended up just saving the cash.

UW in Civil Engineering. I don't care a whole lot about the APR, as I'll just pay it all off by the middle of august. I see you have a Ninja 500. Was it your first bike? I'm pretty sure I want to get the same bike.


Eric

[nick9871]

Yea its my 1st street bike. I've ridden dirt for a long time. I posted a few threads down aobut my choice. bassically i felt i could handle the throttle/clutch of the 600's but they felt very difficult to manuever to me, and i would rather get used to it on a much cheaper bike rather then mess up a 6000 bike. The ninja feels great though!!!!

[aireq]

Yea its my 1st street bike. I've ridden dirt for a long time. I posted a few threads down aobut my choice. bassically i felt i could handle the throttle/clutch of the 600's but they felt very difficult to manuever to me, and i would rather get used to it on a much cheaper bike rather then mess up a 6000 bike. The ninja feels great though!!!!

Yeah, the only expeience I have his the two days in the MSF class riding a 200 cc dual sport. How is a 250 or 500 ninja different in terms of handeling compared to the 200 cc dual sport. One of the guys in the class had a 500 and he said the ninja's were much harder to control at low speeds.

[nick9871]

Yea its my 1st street bike. I've ridden dirt for a long time. I posted a few threads down aobut my choice. bassically i felt i could handle the throttle/clutch of the 600's but they felt very difficult to manuever to me, and i would rather get used to it on a much cheaper bike rather then mess up a 6000 bike. The ninja feels great though!!!!

Yeah, the only expeience I have his the two days in the MSF class riding a 200 cc dual sport. How is a 250 or 500 ninja different in terms of handeling compared to the 200 cc dual sport. One of the guys in the class had a 500 and he said the ninja's were much harder to control at low speeds.

Hmmm. I think the Ninja is a breeze at low speeds. I find it very comparable to larger dirt bikes. The 600cc sport bikes are a much different story, i cant manuevere those things for crap. I have no problem making 5mph u turns on the Ninja. It just takes a lot of clutch control. With good clutch controll you can manuvere any bike in tight spots. Just gotta keep your momentum.

[Psycluded]

Hmmm. I think the Ninja is a breeze at low speeds. I find it very comparable to larger dirt bikes. The 600cc sport bikes are a much different story, i cant manuevere those things for "crumb". I have no problem making 5mph u turns on the Ninja. It just takes a lot of clutch control. With good clutch controll you can manuvere any bike in tight spots. Just gotta keep your momentum.

I took the BRC with my CBR600F4i, and did just fine. The key is to get -very- comfortable with the bike and the physics/performance expectations of the bike, and then just TRUST the bike to do what it is designed to do.

I was able to do the figure-8 box easily once I learned how to trust the bike to lean over and still grip the pavement through a low-speed turn. I can now take U-turns at low speed with no problem, just lay the bike down and power through it.

I suppose it's just a matter of how much you're willing to let go and let the bike do what it's designed to do. A lot of it -is- counter-intuituve as heck. Leaning the bike down at those low speeds FEELS wrong the first few times. You'll think, "This bike weighs 370lbs withOUT me, and I'm laying it down to try and turn at 5mph? F--- that!!" Trust me. After you get comfortable with the bike and let her do what she's designed to do, you'll be able to whip her around like nothing.

[einjun]

So I just graduated from college, got a good paying engineering job, and passed the MSF. I want to buy a bike now while it is sunny (I live in seattle), but I wont get my first paycheck until the 15th of July, and even then it will only be for a week. So i wont get a full paycheck until the 29th of July.

I'm looking to spend around $1500 on a bike, maybe more or less depending on what I find. So I want to buy a used one. Is there some way to you can finance a used bike sold by the owner? Is there some way I can get a short term loan from a bank or other institution for around $2000?


Eric

Yeah, signature loan might be the best deal right now for you at your bank. I got approved for $1500 in no time. But my APR is like 17.5% or something. So i'm not using it either.