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So I went to a local kawasaki dealership who also had used bikes to see if they had a used Ninja 250 or 500. I asked the guy there about financing a new bike (Ninja 250) and he said I could probably get a 4.9% APR with zero down spread out over 3 years. I suggested that I could pay it off in 2 or 3 months but he said that if I want to improve my credit (which I do, as I just gradated and really have no credit) that I would need to make payments for at least 6 months. First does anyone know offhand if paying it off in 6 months or over 3 years would have more or less of an effect on my credit rating?

I'm a little new to having a decent consistant income. While in high school or college the idea of buying a new vehicle of any kind was out of the question, so needless to say I'm a little new to the idea. Is there any point in shopping around for a new bike? It seemed like the guy I talked to at this dealership was just giving me the deal on Kawasaki's website. Any chance I could get a better one at another dealership?

First off, once they've got you talked into a bike, the likelyhood you actually qualify for those finance terms is slim. Secondly, you gotta do what feels right to you as far as how soon you pay it off. Your credit report will show the account being opened and then paid in full...that should be good enough. More important than earning "good" credit is avoiding the pitfalls that lead to bad credit. Right now you're on the right track...wanting to avoid debt and paying off what little you have quickly. Don't let anyone ever talk you out of that mindset. I imagine the salesman is priming you for a bigger and more expensive bike. If you're stating that you can knock out a $3,000+ loan in a few months, he's thinkin', "Hey, maybe I can get him to buy a $6,000 bike and make payments on it".

And not to confuse the issue...or contradict anything I just said...but I don't think you're going to want to own a Ninja 250 for three years anyway! if that's your bike of choice, grab up a cheap used one for now. If you do end up financing one, get something you won't grow out of super-quick, like at least a Ninja 500R or a Suzuki SV650. Hell, I picked up my NightHawk 700SC for just $1,900.00 and it had brand new (New Old Stock) bodywork from Britain and looked brand new. I put roughly 8,000 miles on it before I traded it in on my Meanie. Similar bikes can be had for similar prices, and if you can truly knock out a $3,000 loan in a few months then perhaps just saving that money and paying cash for a bike would suit you better.

Food for thought.

Man do you guys just sit around refreshing this forum waiting for something to respond to I made that post 15 min ago ! ! !

I'm not worried about getting suckered into a more expensive bike, not that I couldn't afford one. But I'd had a hard time spending more then $3000 on something that is really just a "toy" to me. Hell I'm having a hard enough time spending that much. I'm more concerned about safety, and for the reason wouldn't consider anything bigger.

I was considering a 500 (used or new), but someone on this forum made a good point in another post by saying that it doesn't make much sense to buy a liter sport bike if you're going to be riding it at %10 of what it can do. I was perfectly happy on the 200 cc dual sport I road in the MSF course. In addtion, I'm not that worried about outgrowing a 250, as they are in such demand reselling it and using the money for another bike wouldn't be hard at all.

I'm all for buying things used, but the issue I'm having now it timing. I just took the MSF course and would prefer not to get a bike months after I took the course and have forgoten everything. Second weather is a big issue to me, as I live in seattle and I want to get in a good amount of time learning to ride in traffic before I learn to ride in traffic and rain.

I just started a job, but wont get my first paycheck until the end of july. So I wont be able to save up enough money to buy a used one until the middle of august, and that's asuming someone is selling one that I want at that time. Anyone have any additional thoughts?

Eric

Awww heck, lets add the two cents:

First of all, paying it off fast is never a bad thing. I've talked to my bank manager about that. He said it will do more for my credit rating if I paid off my $1000 loan in a month then in a year. All that they care about is that you'll pay it off. The faster they get their money back the sooner they can lend it out again and start making more cash.

As to buying a new ninja, shop around, get the best price from one place and go to the next. Ideally you'll be paying cash, so you don't need to depend on the guys selling you the bike. They'll use that fact to prevent you from wheeling and dealing. Paying cash gives you more leverage on the price of the bike. Walk in there and say, I've got $2500 cash and I want that bike there. If they start to hum and haw, say, "Okay I'm going to the next place." Chances are good they'll try and grab you if you do. They set the prices, but you decide if you're going to pay it.

My bike is yellow because I refused to pay the extra $500 the other dealership wanted for the black one. So screw them, yellow goes just as fast. LoL and it's not purple.

If you need to borrow cash, borrow it from the bank, they'll give you the best rates, and the easiest way to pay it back. It will also do more for your credit rating.

aireq wrote: I was considering a 500 (used or new), but someone on this forum made a good point in another post by saying that it doesn't make much sense to buy a liter sport bike if you're going to be riding it at %10 of what it can do.

Yeah...true...but a 500 is only half a liter, and if you're only riding it at 10% of what it can do you probably haven't left first gear.

If a 250 is plenty enough to make you happy then more power to ya! But definitely listen to Sev and shop around. You'll get the best possible deal as you're walking out the door, or sometimes even after you've arrived at home (hint: leave your number with the salesman and tell him not to call you unless he has an offer you can't refuse). Remember, they need you just as much as you need them. You have the power of "no" in your corner. And be mindful of all the last-minute bull-dodo fees that make it onto the contract at the end. Be sure everything is there that you discussed, and nothing has been added. It wouldn't hurt to ask 'em to throw in a helmet, either.

Hey fellow Seattleite!!! I was in the same boat as you a few weeks ago. What dealer you looking at? I am a Junior in college and have a credit card, which i pay off in full everymonth. I qualified for the special financing, the guy told me pretty much anyone can. HOWEVER. I ended up realizing that i hate buying things new, including cars, cause the second you leave the lot you loose money and you run into something lol. So i waited a week and came across a 1997 Ninja 500 for 2500 bucks. bought it immediatly. I can re-sell it for 2500 in a few years. Better then loosing 2000 and paying 600 bucks at least! to the bank!

Just my

To Nick:

Hello to you ! Was the 500 your first bike? I totaly agree with people telling me that i should buy a used one and save my money but the issue I'm having is with the timing of my first couple paychecks and the weather (see my last post). I went to my bank to see if they could give me a loan on a used bike, but they said they wouldn't finance anything older then a 98 (which I guess is ok). But they wouldn't pay for any more then 50% the fair market value. My bank is wells fargo, so maybe I could find a better deal elsewhere? I'm not sure what kind of APR they offered.

To zootech:

I realize that 500cc is 0.5 L the point I was trying to make is that even a 500cc bike is more then most people "need". Seems like a 250 is plenty if you are trying to learn cornering teqniques and how to drive in traffic rather then just going fast in a straight line. Can anyone that had a 250 to start out on tell me how long it took before you "outgrew" it?

My other question was can dealerships give you deals. I've never dealt with a dealership before, so idea of haggeling a price of a new item is foriegn. I mean I wouldn't go to the grocery store and try to get them to give me a deal on a box of cherios. But from some of the responses made to this post is sounds like they do.

To Sevulturus:

I don't really have the option of bringing cash into the dealership. If I did I would be buying a used bike right now. I need to go see what they can actualy offer me, but the guy on the floor said most people qualify for the 4.9% APR. I don't think I would get much better then that at a bank?


So it sounds like the best option if I decide to buy new is to drive around to every dealership in the area and tell them what the other dealership was going to give me until none of them will go any lower?

Maybe seeif you can qualify for a personal line of credit at your local bank. They just give you a checkbook so it's not tied to a single purchase. The rate would probably be 10-12 apr, but it doesn't really matter as you'd be paying it off in a couple months anyway.

Don't take the financing from the store. Go to the bank and take out a loan from them. This is the same thing essentialy as walking in with cash.

You can ALWAYS get the bike or car or truck or van for less then the MSRP. I got $300 off my first bike, and $700 or so off my second. If I hadn't been so anxious to just get a bike I'd have saved a lot more. Patience is the key. Be prpared to walk away if you have to. There are tons of dealerships that are competing for your cash, so they'll do what it takes to get your money.

The dealerships will try to make you think that they're holding all the cards. I mean they have something you want. Just remember that you have something they NEED. Without your business they are going to close up.

aireq wrote:Can anyone that had a 250 to start out on tell me how long it took before you "outgrew" it?

I've never owned a 250, but about a week after acquiring my 500 I was ready for more power...and after one full season on my NightHawk 700SC I was dying for even more. It (the NightHawk) would hold freeway speeds just fine but headwinds required dropping a gear or two and I grew tired of shifting just to hit the powerband. It's nice owning a bike that doesn't require much shifting. I can be running 55mph in 5th gear on my Meanie and just throttle it up to 80mph in a matter of seconds. From what I've read, the Ninja 250 has one helluva redline, but that's because you'll be needing it on hills and windy days. I did have the "pleasure" of riding a 250cc NightHawk once (a co-worker's bike) and it didn't feel like it was up for any freeway cruising at all.